Tag: Economy

Top India court halt’s tycoon Mukesh Ambani’s retail deal: | Incredible Solutions Tech

The verdict is a win for Amazon which says Future Group’s sale to Ambani’s Reliance Industries violates its contract. India’s Supreme Court has barred a final ruling by a tribunal reviewing Future Group’s $3.4bn sale of retail assets until the top court hears objections from aggrieved partner Amazon.com Inc,...

South Korea agrees to partial release of blocked Iranian money | Incredible Solutions Tech

South Korea’s move comes after the US reversed two Trump-era moves against Iran. Tehran, Iran – South Korea has agreed to release “a part” of billions of dollars of Iranian money it had blocked in its banks for years because of United States sanctions. In a statement, the Central...

China’s ‘No 1 document’: Beijing steps up focus on food | Incredible Solutions Tech

China points to ‘instability of the external situation’ in latest rural policy blueprint, urges boost in domestic seed supplies. China will put greater pressure on its regions to boost grain yields and step up support for its domestic seed industry as it strengthens its focus on food security after...

UAE unveils $1.36bn in arms deals at Abu Dhabi weapons show | | Incredible Solutions Tech

Major arms makers are attending a weapons show in Abu Dhabi, capital of the United Arab Emirates, hoping to seal deals with militaries across the Middle East. At the opening, the UAE revealed that it had signed $1.36bn in local and foreign arms deals to supply its forces with...

Australia pulls health ads from Facebook after news blackout | | Incredible Solutions Tech

Facebook is playing hardball over a government plan to force technology giants to pay for the news on their platforms. Australia’s health department will no longer advertise on Facebook, it has announced, the latest escalation of the government’s feud with the social media giant over a new law that...

US to probe certain Boeing 777s as Japan grounds some of the | Incredible Solutions Tech

US orders extra scrutiny of Boeing 777s with same type of engine that failed on United Airlines flight forcing return to Denver airport on Saturday. United States aviation regulators announced extra inspections of Boeing Co’s 777 jets using the same type of engine that shed debris over Denver on...

HSBC to move top executives from UK back to Hong Kong: Report | Incredible Solutions Tech

HSBC Holdings Plc is considering the return of some global leaders to the bank’s original hometown, reinforcing Asia’s role as its center of gravity. A cadre of senior executives is set to relocate in coming months to Hong Kong from HSBC’s Canary Wharf headquarters, say people familiar with the...

Sudan devalues currency in effort to access debt relief | | Incredible Solutions Tech

The move meets key demand by international financial institutions to help Sudan’s transitional authorities overhaul its battered economy. The Central Bank of Sudan has sharply devalued the currency, announcing a new regime to “unify” official and black-market exchange rates in an effort to overcome a crippling economic crisis and...

US sanctions inflicted $1 trillion damage on Iran’s economy: | Incredible Solutions Tech

Tehran, Iran – Unilateral sanctions imposed by the United States inflicted $1 trillion worth of damage on Iran’s economy and Tehran expects compensation, its foreign minister said. Mohammad Javad Zarif said on Sunday after the US takes action to restore Iran’s 2015 nuclear deal with world powers through lifting...

Fed pledges continued support for US economy amid pandemic | Incredible Solutions Tech

Monetary policy will continue to provide ‘powerful support’ to the economy, the United States’ central bank told Congress on Friday. Federal Reserve actions will continue to bolster the U.S. economy as it battles the Covid-19 pandemic, the central bank said Friday in its twice-yearly update to Congress. “Monetary policy...

G7 leaders boost COVAX support, focus on COVID recovery | | Incredible Solutions Tech

Group of Seven leaders, who control a little under half of the world’s economy, have pledged billions of dollars to COVAX, a United Nations coronavirus vaccination programme for poorer countries. US President Joe Biden and Italian Prime Minister Mario Draghi debuted at the G7 virtual leaders’ meeting on Friday...

Despite COVID jab roll-out in South Africa, frustrations | Incredible Solutions Tech

Johannesburg, South Africa – When the South African government launched its much-anticipated coronavirus vaccination campaign on Wednesday, Johanna Monama did not pay much attention. Instead of following live televised coverage of healthcare workers and President Cyril Ramaphosa rolling up their sleeves, Monama, 34, was tending to other problems: hunger,...

US bipartisan bill could empower news outlets to take on Big | Incredible Solutions Tech

An antitrust bill would allow smaller news outlets to negotiate collectively with Facebook and Google, Reuters reports. Members of the United States Congress from both parties plan to introduce a bill in coming weeks to make it easier for smaller news organisations to negotiate with Big Tech platforms, Representative...

Soaring high: Bitcoin hits record $53,750, $1 trillion market | Incredible Solutions Tech

The world’s top cryptocurrency has surged 60 percent this month alone, fuelled in part by mainstream investors like Tesla. Bitcoin hit yet another record high on Friday, achieving a market capitalisation of $1 trillion and blithely shrugging off analysts’ warnings that it is an “economic sideshow” and a poor...

Mars landing, Kitty goes to Washington and auctioning digital | Incredible Solutions Tech

It’s been a week of wild weather for regions across the globe — from snow in Jerusalem to a deep freeze in Texas. After you dry your socks off and shake the snow out of your hair, pour yourself a cup of hot chocolate and dig into the biggest...