Members of the BRICS trade bloc Russia, India, and China have decided to connect their financial messaging systems to bypass the SWIFT international money transfer network.
Russia’s financial messaging system SPFS will be linked with the Chinese cross-border interbank payment...
Plunging Amazon stock has cost its founder Jeff Bezos a fortune in a single day and stripped him of the title of the world’s wealthiest person, giving Microsoft co-founder Bill Gates the top spot.
Shares of the world’s biggest online...
Heads of African countries have flocked to Russia for a first-of-its-kind summit, where Moscow will be offering business ties and security arrangements alternative to 'colonial-style' relations with the West.
Over the past decade, the African...
Deals Flying Around
The final quarter of 2019 is shaping up as a quarter of deals. A "phase-1" trade deal between the US and China is in the making, the US just agreed with...
Facebook’s plan to introduce its own cryptocurrency, Libra, next year has faced another serious setback, after Visa, Mastercard, eBay and Stripe became the latest companies to pull out from the project.
In statements following their decision, the companies said that...
The World Trade Organization gave President Donald Trump the go-ahead to impose tariffs on as much as $7.5 billion worth of European exports annually in retaliation for illegal government aid to Airbus SE.
The award is the largest in WTO...
The representatives of the BMW Group and the mayor of the city of Debrecen signed the purchase agreement of an industrial area on Tuesday, which will open the way to the construction of the BMW car factory,...
A European Court has struck out the copycat claims made by Italian motor giant Piaggio against a Chinese manufacturer that produces scooters remarkably reminiscent of Italy’s iconic Vespa.
The EU’s Intellectual Property Office (EUIPO) ruled this week that Chinese motorcycle...
For years, European banks were leery of passing on the ECB's negative deposit rate to their clients for fears of deposit flight and other unintended consequences, in the process being forced to "eat" the difference and impacting...
Moscow has continued to sell off US Treasury securities, cutting its stockpile by $2.35 billion in July, according to the latest US Department of the Treasury data released on Tuesday.
Russia’s holdings of US state debt amounted to $8.5 billion...
