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Chinese company ZTE, which produces telecommunications equipment, reported that by the end of 2018 recorded a net loss in the amount slightly above $1 billion. The company became unprofitable last year as a result of paying a fine to the US authorities in the amount of $1 billion 400 million for violating the sanctions regime imposed on Iran and North Korea. The decision of the US ministry to ban the purchase of ZTE products by US technology companies could lead to the complete cessation of its business. Therefore, after negotiations with the US government, the Chinese company agreed to large-scale changes in its leadership, appointing, among other things, a new chief executive officer. Last year, ZTE revenues fell by 21% to 85 billion 510 million yuan.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
Japan’s first-quarter business spending came smaller than what was initially estimated, revised data showed on Monday. This underscored a sharper damage that the novel coronavirus pandemic had inflicted on the world’s third-biggest ...
Bloomberg News reported on Thursday that Elon Musk’s Space Exploration Technologies Corp. (SpaceX) is in talks to raise new funds at a valuation of $44 billion. The aerospace company said that it is in discussions with a number of investors ...
KYC Policy