India’s economic growth is at its slowest pace for three years in the April-to-June quarter and growth has declined for six quarters in a row. Economic analyst Vivek Kaul explains why one of the world’s fastest growing economies is sputtering to a halt. On Monday, Prime Minister Narendra Modi revived India’s economic council, a body […]
Ikea buys odd jobs firm TaskRabbit
Tired of having to build your Ikea Billy bookshelves yourself? The Swedish furniture giant’s latest purchase of TaskRabbit means it will be easier to get someone else to do it for you, as long as you are willing to pay. The firm is buying US start-up firm TaskRabbit, which allows users to hire people to […]
Anger as German ex-chancellor Schroeder heads up Rosneft board
Former German Chancellor Gerhard Schroeder is facing a backlash after being elected chairman of the Russian state-controlled oil giant Rosneft. The appointment deepens his controversial links with Moscow. He has long been friends with Russian President Vladimir Putin. The West imposed sanctions on Rosneft after Russia annexed Crimea in 2014. The chair of the German […]
UK chip designer Imagination bought by Chinese firm
UK chip designer Imagination, which designs graphics chips for smartphones, is being bought for £550m by a Chinese-backed investment firm. Imagination put itself up for sale in June after Apple, its largest customer, said it would stop using its products. The boss of Imagination, Andrew Heath, said the takeover by China-backed Canyon Bridge was a “very good outcome” […]
Storms complicate Puerto Rico’s debt problems
Puerto Rico’s more than $70bn in debt is casting a shadow over recovery efforts on the Caribbean island, which was badly destroyed by Hurricane Maria. Puerto Rican Governor Ricardo Rosello, who is seeking federal funds, warned of a “massive exodus” without aid. US President Donald Trump wrote on Twitter on Monday night that the island […]
Cyber Attack: Deloitte hit by data breach
Corporate finance giant Deloitte suffered a cyber-attack that compromised confidential data, including the private emails of some of its clients, the company has confirmed. Its system had been accessed via an email platform and “very few” clients had been affected, Deloitte said. The Guardian reported the attack had been discovered in March but could have happened […]
Brent oil price ease back
The Oil Prices has fallen back on Tuesday after earlier hitting a two-year high. Rising demand and geopolitical worries had fueled the increase, along with indications that production cuts by OPEC members are starting to bite. Brent rose about 4% to just short of $60, its highest since July 2015, point, before dropping back to $58.59. […]
St. Kitts and Nevis Signs Visa Waiver Agreement with Russian Federation
St. Kitts Nevis took a significant and historic step forward on 21 September 2017 when Foreign Minister Mark Brantley signed a VISA waiver agreement with the Russian Federation’s Foreign Minister H.E. Serguey Lavrov during the annual UN General Assembly in New York, USA. This VISA waiver agreement now allows citizens of St. Kitts and Nevis and Russian citizens […]
Trump signs new order to widen North Korea sanctions
The US treasury has been authorized to target firms and financial institutions conducting business with North Korea. The president also said China’s Central Bank had instructed other Chinese banks to stop doing business with Pyongyang. It comes less than two weeks after the UN approved new sanctions against the country over its latest nuclear test. […]
Saudi Arabia Builds Sand Cities in a bid to Move beyond Oil
The Kingdom is turning to the desert for new revenue streams by creating sand cities as big as some countries. After relying on oil to fuel its economy for more than half a century, Saudi Arabia is turning to its other abundant natural resource to take it beyond the oil age – desert. The kingdom […]