Latest International Business News
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Dalian Wand Group to enhance UK presence with luxury hotel and yacht unit
LONDON - China's largest premier commercial property and entertainment conglomerate, Dalian Wanda Group Wednesday entered into 320million pounds definite acquisition deal with leading British yacht company, Sunseeker International Ltd, under which Wanda will acquire a majority shareholding of 91.81% in pre-eminent luxury motor yacht manufacturer. Under the agreement, the remaining 8.19% ...
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EU antitrust regulator fines Lundbeck and several generic drug firms
BRUSSELS - European Union in its first case over pay-for-delay deals that held back sales of cheaper generic drugs Wednesday fined Danish pharmaceutical company Lundbeck 93.8 million euros and imposed fines totaling 52.2 million euros on several other producers of generic medicines. The European Commission, the EU's antitrust regulator, said the companies had reached agreements that may ...
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Chrysler to recall 2.7 mn Jeeps but says vehicles not defective
NEW YORK - Chrysler avoided a showdown with the US government by agreeing to recall 2.7 million Jeeps with fuel tanks that could rupture and cause fires in rear-end collisions. Chrysler said it recognised the matter had raised concerns for customers The US company said it had resolved its differences with the National Highway Traffic Safety Administration (NHTSA). The recall affects ...
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Four US mortgage servicers faulted for lapses by settlement monitor
WASHINGTON - Four of the largest U.S. mortgage servicers, including Citigroup Inc (C). and Bank of America Corp., have failed to adequately upgrade their treatment of customers in danger of foreclosure, according to a court-appointed monitor. Bank of America, Citigroup, JPMorgan Chase and Wells Fargo have failed to adhere to some of the new standards set out in a landmark settlement meant to ...
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Spain making progress but requires urgent action to generate growth says IMF
MADRID - Spain risks high joblessness and sluggish growth for years unless its government together with Europe takes "urgent action' to generate growth and jobs, the International Monetary Fund stated Wednesday. "While there are signs the economic contraction may end soon, the outlook remains difficult," IMF said in its annual assessment of the Spanish economy. "But unemployment remains ...
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Finance Ministry says rupee is not in shambles
Chief Economic Advisor Raghuram Rajan on Thursday emphasized that the rupee is not in 'shambles', and said that the Finance Ministry, RBI and SEBI are watching the developments closely and would take appropriate steps. "The Finance Ministry, the RBI (Reserve Bank of India) and SEBI (Securities Exchange Board of India) are watching developments closely and would take action, as appropriate. We ...
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UNESCO adds 6 Syrian sites in List of World Heritage in Danger
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Microsoft offering hackers $1mln for finding bugs in Windows
Software giant Microsoft has decided to reward security researchers to report bugs and find novel methods for exploiting the security built into the latest version of Windows. According to the Sydney Morning Herald, Microsoft has announced that it will pay up to one million dollars for finding bugs with Windows 8 and those who can demonstrate a way to block the new attack method can earn 50,000 ...
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Microsoft alters key components of Xbox One sharing policies
Software giant Microsoft has reportedly altered some of its sharing policies for its latest gaming and entertainment console Xbox One after addressing to feedbacks from the 'Xbox community'. Microsoft has dropped the 24-hour Internet connection requirement for playing all disc-based games, and has made games using and sharing unlimited, CNN reports. According to the report, president of the ...
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Growth in human population could wipe out many species within 40 yrs
The global growth in the human population has the potential to threaten hundreds of species with extinction within 40 years, a new research has shown. The Ohio State University scientists determined that the average growing nation should expect at least 3.3 percent more threatened species in next decade and an increase of 10.8 percent species threatened with extinction by 2050. The research ...
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Award winning healthcare economist Dr. Hariawala to give talk on business implications on Indian healthcare system
Mumbai, June 20 (ANI-Business Wire India): Noted healthcare economist and award Winning Indian American Surgeon Dr. Mukesh Hariawala will deliver an important keynote address at the fourth Annual India Leadership Conclave and Indian Affairs Business Leadership Awards 2013. The event is being organised by Asia's most analytical news media Indian Affairs in association with the Ministry of ...
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Chinas manufacturing activity at nine-month low HSBC
China's manufacturing activities fell to a nine-month low this month, according to a preliminary survey from HSBC. The HSBC Flash Manufacturing Purchasing Managers' Index (PMI) for June fell to 48.3, the lowest level since October and down from 49.2 in May, according to figures released by HSBC Thursday. An index reading above 50 indicates expansion, while a reading below 50 means ...
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Drought slows New Zealand economic growth
New Zealand's economy grew by 0.3 percent in the March quarter, with the nationwide summer drought offsetting the effects of the reconstruction of the earthquake-battered Canterbury region, the government statistics agency reported Thursday. The "modest growth" in GDP followed a rise of 1.5 percent in the December 2012 quarter, said a statement from Statistics New Zealand. "The Canterbury ...
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Airbus Boeing compete for mega deals at Paris Air Show
Two world aviation industry giants, Airbus and Boeing, are engaged in fierce commercial battles for winning big orders for their long-haul airplanes at the 2013 International Paris Air Show. As the leading European aircraft manufacturer, Airbus Wednesday announced that Air France-KLM has ordered 25 Airbus A350 planes at list prices of $7.2 billion with an option for 25 additional aircraft, ...
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PCB considering performance based pay for Pak players after disastrous CT campaign
The Pakistan Cricket Board (PCB) is reportedly mulling over introducing a performance based pay package for players in the wake of the national team's disastrous performance in the ongoing ICC Champions Trophy in England. Although PCB has since last year twice given pay raises to the players in their central contracts and match fees, this has not reflected in their performances, with Pakistan ...
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Flydubai launches business class service
Dubai-based Flydubai airline Wednesday announced launch of business class services, based on its passengers' feedback from across its network of 60 destinations. "The introduction of Business Class will provide greater choice for our passengers, who will have access to faster check-in services, comfortable and spacious seating and can enjoy a variety of internationally -inspired menus during ...
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Russell Crowe to direct his first feature film
Actor Russell Crowe is set to director his first feature film. The project is set in the aftermath of World War I. The 49-year-old's directorial project is titled "The Water Diviner". It is set in 1919, reports contactmusic.com. The movie tells the story of an Australian man who travels to Turkey looking for his two sons who went missing during the Battle of Gallipoli. Crowe, who recently ...
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Independent Publishing Houses in Mexico Promote Democratization of Books at Annual Fair
MEXICO CITY, MEXICO Gustavo Barr?n, 22, glances at the books on display at the Feria del Libro Independiente, a book fair featuring independent publishing houses in Mexico City, Mexicos capital. While perusing the selection, Barr?n, a university student studying history, holds a book about guerrilla groups in Mexico in the 1970s and the transition to democracy. The publisher is Ce-Acatl, a ...
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UAEs efforts to preserve environment exemplary says daily
Environment related authorities in the United Arab Emirates (UAE) have not been resting on their laurels since receiving an acknowledgment from the World Wildlife Fund in 2010, a UAE daily has reported. The UAE authorities in charge of tacking environmental issues were recognised as number one in the world in terms of having the biggest ecological footprint. "Proactivity has been their ...
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UN iLanceti journal to hold meeting on AIDS response and global health
19 June 2013 150 Heads of State, policymakers, scientists, advocates and private sector leaders will come together for the first time this month to explore how the AIDS response can be used to shape the future of global health in a United Nations-led meeting in Lilongwe, Malawi. Organized in conjunction with the Lancet medical journal, the UNAIDS and Lancet Commission: from AIDS to ...
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British Court Ruling Threatens Iran Sanctions
LONDON Western government sanctions against Iran suffered a big setback on Wednesday when Britain's top court ruled that the government was wrong to have imposed sanctions on the biggest Iranian private bank over alleged links to Tehran's nuclear program. The Bank Mellat case and 50 more like it pending at the European Union's General Court have cast a cloud over the future of EU ...
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American Medical Association Obesity is a Disease
The largest U.S. doctors' group said obesity is a disease. The decision, announced this week by the American Medical Association at its annual meeting, could lead to increased funding for obesity research and help people obtain insurance coverage for treatment for obesity. The AMA said obesity requires a range of medical interventions for treatment and prevention. Most insurance companies ...
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Ukhand CM Bahuguna thanks PM Sonia says immediate priority is rescue and evacuation
Uttarakhand Chief Minister Vijay Bahuguna on Wednesday thanked Prime Minister Dr. Manmohan Singh for announcing 1,000 crore rupees relief and rehabilitation package for the flood-affected state, and said that the priority at the moment is to rescue those who are stranded and evacuate those who have to go out. "Today we met the Prime Minister and we expressed our gratitude to both the Congress ...
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Facebook looking to partner with Samsung to boost mobile advertising sales
With the growing mobility of internet, Facebook CEO Mark Zuckerberg discussed potential partnership with Samsung company's president Shin Jong Kyun during Mark Zuckerberg's Asia tour. According to Bloomberg report, the partnership would reportedly focus on advancing mobile-advertising sales. Facebook has been strongly encouraging advertising on mobile. In April, Facebook Home had been ...
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UN officials voice outrage at deadly attack on world bodys compound in Somali capital
19 June 2013 150 Top United Nations officials have voiced their outrage at today's deadly attack on the world body's compound in the Somali capital, Mogadishu, while reiterating that it will not deter the Organization from helping the country as it proceeds on the path to stability and development. According to the UN Assistance Mission in Somalia (UNSOM), a pickup truck rigged with ...
Latin America Focus
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Latin American unity plagued by tensions
Division and suspicion seem the order of the day in Latin America at present, negating any optimism that the countries of the region may one day move toward a regional integration model based on that of the EU.
Latin America has seen itself become heavily divided over the issue of whether to readmit Honduras to the Organization of American States (OAS) after the 2009 coup, with all the Central American states accepting the new government while big regional players like Brazil and Mexico insist that more must be done before they’ll recognize it. Meanwhile, President Alan Garcia of Peru has told Latin America news providers that there is a quiet arms race occurring in the region. In all, it seems that regional integration along the same lines as the EU remains a long way off at present. Read more
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