DHL to operate Honor’s smart device distribution hub for Middle East and Africa
DHL Global Forwarding is one of the leading international providers of air, ocean, and road freight services. They announced that it will operate the smart devices distribution hub in Dubai. This hub will distribute Honor’s products to more than 30 countries across the Middle East and Africa. Ralf Schreiber at DHL Global Forwarding said that […]
Foxconn bullish on electric vehicle prospects
Taiwan’s Foxconn unveiled its first three electric vehicle prototypes, underscoring ambitious plans to diversify away from its role of building consumer electronics for Apple and tech firms. The vehicles such as an SUV, a sedan and a bus were made by Foxtron. This is a venture between Foxconn and Taiwanese car maker Yulon Motor Co […]
Asian shares advance on earnings optimism
Asian shares advanced and U.S. long-dated bond yields edged up to a five-month high. This is on rising optimism about the global economy and corporate earnings. Japan’s Nikkei rose 0.8% while MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.3%. Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities said that earlier […]
UBS’s Weber center stage as Santander-Orcel court battle resumes
UBS Chairman Axel Weber is expected to take centre stage in a court battle that erupted after Spain’s Santander withdrew a multimillion-euro offer to the Swiss lender’s former top investment banker to be its CEO. Italian banker Andrea Orcel is suing Spain’s largest lender. This is after it dropped the job offer almost three years ago in […]
$475 MLN to resolve Mozambican scandal by Credit Suisse
Credit Suisse Group AG will pay about $475 million to American and British authorities for resolving the bribery and fraud charges relating to a $2 billion Mozambican corruption scandal. Its subsidiary pleaded guilty to a conspiracy charge in New York, U.S. and UK agencies. The settlement with the U.S. Securities and Exchange Commission (SEC), the […]
US treasury will hold IMF chief
The second-ranking U.S. Treasury official told senators that the agency would hold International Monetary Fund Managing Director Kristalina Georgieva accountable for changes needed to safeguard IMF integrity in the wake of a World Bank data-rigging scandal. Deputy U.S. Treasury Secretary Wally Adeyemo told a U.S. Senate Banking Committee hearing that they did not find that it was appropriate […]