Import of palm oil by India bounced after its first drop in a year. The growing demand coupled with harvest failure boosted the purchase of palm oil from overseas suppliers.
Sectors
Whole Foods to trim costs, shifting biz focus
Whole Foods Market Inc is in the process of cost reduction. To promote sales volume, it's offering discounts and building relations stronger with suppliers. Whole Foods is expecting a savings of $300 million annually.
Google Announced to Hire Manufacturing and Engineering Jobs for Autonomous Car Division
Alphabet Inc., the parent company of Google will expand its Google X Car project. The company announced to hire more expert in manufacturing and engineering to bring its self-driving car into the market.
Oil price drop to $30 per barrel as Iran begin delivery to Europe
The price of the oil dropped once again to $30 per barrel after Iran delivered its first shipment to Europe. This fall is seen as a boon for some nations while it is considered as a disaster for others.
HSBC Board Opts For Headquarters In London
London is the core economic hub of Europe. Leaving out from the European Union will force the businesses to be pulled out from the UK, argue some analysts. However, HSBC Board’s decision to retain headquarters in London appears to be the best answer to the believers.
Latest News
BP enters into an agreement with Oman government to widen the license area of Block 61. The company strengthens its commitment in Oman with a view to broadening its business in the country.
The center of life-saving drug price hike controversy, Martin Shkreli tried to made himself in the news again. He claimed that he was scammed for $15 million for the new album of Kanye West "Life of Pablo."
In a plan to boost sales, Tesla increased the price of its after sales service. The company also prevent Tesla owners to transfer their extended warranty when reselling their cars.
AirAsia India’s head Mittu Chandilya is confirmed to soon leave the airline. The decision emerged after he previously expressed disfavour on the micro-management practiced by the airline’s parent company in Malaysia. His successor is yet to be decided, but it’s likely to be an executive from the parent airline.
U.S. sold Pakistan eight F-16 fighter jets that deeply disappoints India. It was told that Pakistan will use these jets to counter terrorism and defend their country but India doesn't believe so and thinks that it will be used against them instead.
The possible entry of a fourth mobile operator in Singapore due to the country's decision to auction radio frequency has caused much disquiet among the existing telecom operators. Among them, Singtel CEO has been most vocal about this decision, stating her concern about the market getting too focused on price leading to profit reductions and dividend cuts, leaving no scope for innovation.
Boeing has been reported to wait for approval pending with the US government regarding purchase of F/A-18 jets by the Navy and Kuwait. Delay in approving funds has become a growing concern. Further delay in rendering approval may compel in Boeing authority to decide hundreds of millions dollar fund to keep its Saint Louis plant operative.
Anthony Foxx is expected to sign a deal in Havana on Tuesday. The deal will allow resumption of commercial flights between the two countries. All the major airlines are expected to take part in the bidding of commercial flights towards different destinations of Cuba.
Apple is replacing the Macbook USB charging cables, especially on a number of devices that were released before June 2005. These old charging cables are said to have design issues that make the laptop unable to charge appropriately.
