News Obiaks News

Saudi crown prince attends investment forum amid 'crisis'

Oct 23, 2018 1301

Saudi Arabia's powerful crown prince on Tuesday attended a glitzy investment forum boycotted by a host of global business leaders, as the petro-state admitted it is facing a "crisis" after the murder of journalist Jamal Khashoggi.Crown Prince... Read More

One million cars recalled by BMW over exhaust system fire risk

Oct 23, 2018 1093

German high-end carmaker BMW said on Tuesday it would recall more than one million additional diesel cars, citing a problem with the exhaust system that "in extreme cases can cause a fire"."In some diesel vehicles, glycol cooling fluid can leak"... Read More

Brazil to inject $1.1b into Nigeria’s agriculture sector

Oct 19, 2018 1687

The Brazilian Ambassador to Nigeria, Ricardo Guerra de Araujo, says  Brazil will soon inject 1.1 billion dollars into Nigeria’s agriculture.The envoy said on Thursday night in an interview with News Agency of Nigeria in Abuja  that an... Read More

CBN's Emefiele and MTN meet with banks over $8.1 billion repatriation row

Oct 09, 2018 1564

Nigeria’s central bank governor is to meet representatives of telecommunications company MTN and banks on Tuesday to discuss a dispute over the repatriation of $8.1 billion, two sources with direct knowledge of the matter said.The dispute is... Read More

Trudeau dismisses Trump's NAFTA attack, says Canadians are tough

Sep 27, 2018 1731

Canada’s Prime Minister Justin Trudeau on Thursday dismissed U.S. President Donald Trump’s criticism of the slow pace of talks to modernize the North American Free Trade Agreement, saying Canadians were tough negotiators.Trudeau spoke a day... Read More

China not afraid of extreme measures in trade dispute with the US

Sep 19, 2018 1592

China is not afraid of “extreme-measures” the United States is taking in their trade war and will use it as an opportunity to replace imports, promote localisation and development of high-tech-products.The State media said on Wednesday in a... Read More

China retaliates against Trump by slapping $60billion tariffs on US goods

Sep 18, 2018 2044

China has dramatically escalated its trade war with Donald Trump by slapping $60billion of tariffs on US-made goods. The world’s second largest economy unveiled the new levies Tuesday, and say they will come into force on September 24. They were... Read More

China vows retaliation if new tariffs are imposed by the US

Sep 17, 2018 1437

China has promised to retaliate if US President Donald Trump goes ahead and slaps tariffs on 200 billion dollars’ worth of Chinese imports.Beijing “will have to take necessary counter-measures,” a Chinese Foreign Ministry spokesman said on... Read More

Time Magazine sold for $190m

Sep 17, 2018 1553

US media giant,  Meredith Corporation,  has agreed to sell Time Magazine for $190 million, according to a report in The Wall Street Journal.Marc Benioff, co-founder of the cloud computing company Salesforce.com, and his wife Lynn Benioff... Read More

Production of Volkswagen's iconic 'Beetle' cars to end in 2019

Sep 14, 2018 1806

Volkswagen announced on Thursday it would end production of its iconic "Beetle" cars in 2019 after adding a pair of final editions of the bug-shaped vehicles.The curvy-topped sedans, which shook off Nazi origins to become a global auto... Read More

Ryanair pilots, cabin crew in Germany stage strike

Sep 12, 2018 1490

Pilots and cabin crew at Ryanair in Germany staged a full-day walkout on Wednesday and threatened further strikes to put pressure on management in labor talks with Europe’s biggest low-cost carrier.Ryanair had said on Tuesday it would cancel 150... Read More

Alibaba's co-founder Jack Ma set to quit e-commerce firm

Sep 10, 2018 1376

Jack Ma, the co-founder of China’s largest e-commerce firm Alibaba Group Holding Ltd, will step down as chairman in exactly one year on Sept. 10, 2019, he said in an open letter to the company.In the letter with a title of “Happy Teachers’... Read More

Coca-Cola buys coffee chain Costa for £3.9 bn

Aug 31, 2018 2032

Coca-Cola on Friday said it had agreed to buy global coffee chain Costa from its UK owner Whitbread for £3.9 billion ($5.1 billion)."Hot beverages is one of the few remaining segments of the total beverage landscape where Coca-Cola does not have... Read More

Panasonic to move European HQ from UK on Brexit fears

Aug 30, 2018 2050

Panasonic will move its European headquarters from the UK to Amsterdam in October as Brexit approaches.The aim is to avoid potential tax issues linked to the UK's decision to leave the EU, said Panasonic Europe's chief executive Laurent Abadie.In... Read More

Iran to open lawsuit against US sanctions at ICJ

Aug 27, 2018 1922

Iran will argue Monday against renewed sanctions imposed by the United States, as a bitter legal battle between Tehran and Washington opens before the UN's top court.US President Donald Trump reimposed a wave of tough unilateral sanctions on Iran... Read More

British Airways, Air France to suspend flights to and from Tehran

Aug 23, 2018 3961

Commercial airlines, British Airways and Air France on Thursday announced that flights to and from Tehran will be suspended from next month.On its part, British Airways the decision was not made in view of the reintroduction of sanction on Iran... Read More

US-China trade war hits $100 billion in goods as tariffs comes into effect

Aug 23, 2018 2985

From Harley-Davidson motorcycles and American bourbon to Chinese parts and machinery, the world's two largest economies have exchanged punitive tariffs that slice through a wide swath of products.As of Thursday, the United States is charging... Read More

Turkey to boycott US electronic goods - Erdogan

Aug 14, 2018 1370

President Recep Tayyip Erdogan on Tuesday said Turkey would boycott US electronic goods like the iPhone in retaliation for punitive sanctions from Washington, as the Turkish lira finally clawed back some ground after going into a tailspin over the... Read More