Source link Auchan could face a heavy fine following an on-site inspection, the outlet has said Russian tax authorities could hit French supermarket chain Auchan with a fine of nearly $2 million over suspected fraud, RBK reported on Tuesday, citing the company’s financial data. The Russian Federal Tax Service (FTS) conducted an on-site inspection of […]
Source link The new route will link the Power of Siberia and Sakhalin-Khabarovsk-Vladivostok gas circuits Russian energy giant Gazprom has begun work aimed at linking the country’s gas pipelines into a nationwide gas transportation system, the company announced on its official Telegram channel on Thursday. According to the announcement, the company launched construction of the […]
Source link Gender inequality is a major cause of hunger and poverty in Nigeria, according to the head of a local foundation An initiative to promote the role of women in local Nigerian businesses will receive a grant of 600 million naira ($376,000) that will benefit 1,000 female entrepreneurs, a foundation run by major mobile […]
Source link The West African nation’s authorities are investigating Binance and others for alleged terrorism financing and money laundering Major global cryptocurrency exchange Binance has announced that it will halt all transactions and trading in Nigeria’s local currency, the naira (NGN), after Friday. The firm did not provide a reason for the decision, but it […]
Source link The conglomerate led by billionaire Mukesh Ambani will be the majority shareholder in the merged entity, worth $8.5bn Indian mega-conglomerate Reliance has struck a deal with the Walt Disney Company to merge their TV and video streaming businesses into a new entity valued at $8.5 billion. With over 750 million viewers across 120 […]
Source link Mercedes-Benz has regained the top position, with its brand value reaching almost $60 billion, according to a consultancy German carmaker Mercedes-Benz has overtaken the US rival Tesla to regain its position as the world’s most valuable auto brand, according to a new report by consultancy Brand Finance. It had surrendered the top position […]
Source link Moscow has placed the shares of Danone’s local business controlled by its foreign parent under temporary state control French dairy producer Danone is looking to sell its operations in Russia to local dairy group Vamin Tatarstan, the Financial Times reported on Wednesday, citing relevant documents and people familiar with the situation. Under a […]
Source link Net profits at Rosneft, Russia’s largest oil producer, jumped by 47.2% last year, hitting 1.3 trillion rubles ($14 billion) despite sweeping Western sanctions on Russian oil, the company announced on Monday. Crude oil and gas condensate production reached 193.6 million tons in 2023, Rosneft said, adding that it was working to build up […]
Source link Maersk suspended vessel transits via the key trade route in January due to attacks by Houthi rebels Danish shipping major AP Moller-Maersk is advising customers to prepare for a prolonged Red Sea crisis that could stretch well into the second half of this year, CNBC reported this week. The second-largest global ocean carrier […]
Source link Disruptions in the Red Sea could last for up to a year, according to Japan’s Mitsui OSK Lines The disruptions to global supply chains caused by the ongoing tensions in the Red Sea could last for a year, Japanese shipping giant Mitsui OSK Lines (MOL) has warned. Major players in the shipping industry, […]
Source link Citigroup has reportedly received complaints about employees overindulging at client events US banking giant Citigroup has warned employees to drink less alcohol at client events following complaints of disorderly behavior, Bloomberg reported this week, citing sources in the company. According to the report, analysts and managing directors in the bank’s investment division have […]
Source link The survival of the startup that drove financial inclusion in the country and boosted the nation’s economy is now at stake In baseball, it’s three strikes and you’re out. Vijay Shekhar Sharma, founder of Indian digital payments company Paytm, and arguably the country’s largest startups poster boy, faces a possible third strike. Like […]
Source link Carlsberg Group had previously announced having de-consolidated Baltika Breweries, its Russian business The financial loss sustained by Danish brewing multinational Carlsberg Group due to its exit from Russia amounted to 40.8 billion Danish krone ($5.9 billion), according to the company’s full-year 2023 earnings report released on Wednesday. Last year, the Russian authorities took […]
Source link The German authorities are discussing nationalizing the local subsidiary of Russian state-controlled energy major Rosneft, which has been under a trusteeship since 2022, the company said on Thursday. The newspaper Handelsblatt reported, citing government sources, that a hearing that began on Monday marks the first step towards a formal expropriation procedure the government […]
Source link The Indian government may initiate a formal probe into the operations of one of India’s largest digital payment firms, Paytm, The Economic Times reported on Wednesday. The development comes a week after the regulator, the Reserve Bank of India (RBI), ordered Paytm to stop offering its core services from February 29, citing possible […]