Dennis Mutua

German Regulators Initiate Probe Into Allianz After Disappearance of U.S Investment Funds

German financial regulators have initiated a probe into the country’s leading financial service provider Allianz SE (ETR: ALV) following the disappearance of United States investments funds from the company, this unfortunate incidence is said to have taken place during last year. In recent times, Allianz has been slapped with various lawsuits related to its structured […]

Texas City Offering Samsung Extensive Property Tax Breaks to Build $17 Billion Chip Facility

Texas City is considering to offer South Korea based consumer electronics manufacturer Samsung Electronics Co Ltd. (KRX: 005930) large property tax breaks if the tech giant chooses a location in the state to set up a $17 billion chip plant. Samsung is considering one of the two locations in Texas to build the plant, Austin, […]

Qualcomm Will be Supplying Chips for New Renault Electric Vehicle

Semiconductor manufacturer Qualcomm Technology Inc. (QCOM) announced that it will be supplying a key computing chip for the new electric vehicle of France based auto manufacturer Renault SA (EPA: RNO). The chip will be a computing chip for the digital dashboard, Qualcomm has been expanding its operations in vehicle chips which can power dashboard and […]

Amazon to Start Removing Inappropriate Content Violating Rules From Cloud Service

Giant e-commerce company which also engages on cloud-computing, artificial intelligence and digital streaming Amazon Inc. (AMZN) says that it will be taking more proactive measures to determine what type of content violates its cloud service policies. The United States based multinational company says it will be removing content which goes against its measures such like […]

China Expecting to Have Sold 1.7 Million NEVs For the First Eight Months of 2021

China is looking forward to have sold 1.7 million new energy vehicles (NEVs) for the first eight months of the year. This value represents almost a three times fold considering the country only sold 600,000 NEVs for the same period last year. This was announced by China’s vice minister of Industry and Information Technology, Xin […]

Apple Slapped With an Antitrust Lawsuit in India Over its In-App Purchase System

U.S based technology company dealing in online services, consumer electronics and computer software Apple Inc. (AAPL) has been slapped with an antitrust case in India over allegedly abusing its dominance in the apps market by forcing developers to use its proprietary in-app purchase system. These allegations are similar to ones made by the European Union […]

Chinese Regulators Summon Ride-Hailing Firms Over Concerns in the Sector

Chinese regulators are raising concerns over with ride-hailing companies in the country concerning the sector, the regulators summoned firms like Meituan (HK: 3690), Didi Global Inc. (DIDI) and Caocao to discuss arising concerns in the ride-hailing sector. According to the regulators, ride-hailing companies have been hiring unqualified drivers and using promotions which disrupt fair market […]

Thailand to Start Collecting VAT From Multinational Tech Companies

Thailand announced that it will start collecting value added tax (VAT) from foreign technology companies which are operating in the country. The authorities expect this move will fetch them additional minimum revenue of $154.70 million annually. According to senior finance ministry official, Ekniti Nitithanpraphas, after adoption of the new directive, foreign companies providing electronic services […]

French Billionaire Bernard Arnault Sells His Stake in Supermarket Group Carrefour

French billionaire Bernard Arnault has sold his entire stake in France based retail distribution and supermarket group Carrefour SA (PA: CARR). Arnault pumped in his first investment in the retailer 14 years ago. Through his investment vehicle, Financiere Agache Holding, Arnault held 5.7% stake in Carrefour. Sale of the entire stake in an accelerated book […]

China Shuts Down American Chamber of Commerce in Chengdu

Chinese administration has issued a directive ordering an American Chamber of Commerce located in the southwest city of Chengdu to cease operations with immediate effect. This was announced by the American chamber of commerce. The chambers send a notification to its members that in accordance with Chinese laws and regulations it had to stop operations […]

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