Business

Kenyans rush to swap banknotes as cash ban looms

There is a rush in Kenya to offload old banknotes that within days would be worthless as the deadline looms before the Central Bank of Kenya bans all old edition…

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Ports across England given £10 million to prepare for Brexit

Sixteen ports across England will receive a share of a multimillion-pound funding pot to help their preparations for Brexit on 31 October, Transport Secretary Grant Shapps announced. The Department for…

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European economy faces growing risks from Brexit

Economic growth in the European Union is slowing down as the bloc faces increasing risks from global trade tensions and the unclear outcome of Brexit, the EU’s top economic commissioner…

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Loan agreement between Greece and the European Investment Bank

Greek Finance Minister Christos Staikouras (2-R) Minister of Infrastructure and Transportation Kostas Karamanlis (R), Vice President of EIB Andrew Macdowell (2-L) and Athens regional governor Giorgos Patoulis (L) shake hands…

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McDonald’s enlists Alexa and Google to help job seekers

McDonald’s Corp will let job seekers start an application by using voice commands with Amazon’s Alexa or Google’s Assistant. If users say, “Alexa, help me get a job at McDonald’s,”…

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Dutch bank ABN Amro subject to money laundering investigation

Dutch bank ABN Amro has been placed under investigation by Dutch prosecutors relating over suspected money laundering, it said today. Prosecutors said they believe that ABN Amro reported suspicious transactions…

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UK to repatriate 16,000 people on fourth day of Thomas Cook collapse

Britain’s Civil Aviation Authority (CAA) said over 70 flights are scheduled for Thursday to bring back 16,000 people to the country following the collapse of Thomas Cook. The authority also…

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New Zealand announces plans to regulate conduct of banks, insurers

New Zealand announced that it plans to regulate the conduct of financial institutions with new measures including a ban on target-based sales incentives, following a review by regulators. The government…

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‘Moral imperative’ to stop threat to media freedom

Lord Ahmad of Wimbledon, UK Minister for Human Rights, has said that the current crackdown on journalists across the world is a deep-rooted problem, and a rebuke to the rule…

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EU court rules Google doesn’t have to forget you

The US search engine Google has won a European Union court battle against plans to impose a global “right to be forgotten” law, which has tipped the balance in favour…

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3.9 billion tonnes of seaborne goods handled by EU

In 2017, the total gross weight of goods handled in European Union ports (inward and outward) was estimated to be almost 4.0 billion tonnes. Compared to 2016, this represents an…

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Boeing settles first lawsuit with 737 Max crash families

Boeing reached settlements with 11 families of victims from the deadly October 2018 crash of a Lion Air 737 Max aircraft in Indonesia, the company's law firm announced. The settlement…

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Ex- Danske Bank head caught up in fraud probe found dead

The former head of Danske Bank's arm in Estonia has been found dead days after he went missing. Police had been searching for Aivar Rehe since he left his home…

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Thomas Cook’s Polish arm Neckermann ‘insolvent’ after group collapse

Thomas Cook's Polish division, Neckermann Polska, has been declared insolvent, intensifying the crisis over the group's collapse. The news was announced by officials in Poland, little more than 48 hours…

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Thomas Cook collapse leaves huge negative impact on hotels across the Mediterranean

Hotel owners across the world are millions worth of losses after the collapse of Thomas Cook, which went into liquidation in the early hours of Monday. The firm offered trips…

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Microsoft’s Xbox To Be First Carbon Neutral Game Console With Test Program

Following this week’s UN Climate Action Summit, Microsoft has announced that through its Xbox, it has joined the newly-formed which consists of 21 leading video game companies who have pledged to…

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German airline Condor gets financial help

The immediate future of Condor, the German airline and subsidiary of the now insolvent Thomas Cook travel agency, was secured on Tuesday night following the German state's assurances of a…

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Slovenian flag carrier Adria Airways suspended all its flights over liquidity problems

Slovenian flag-carrier Adria Airways has ‘temporarily’ suspended flight operations, the airline announced on late Monday evening. Talks regarding an investment to save Adria Airways’ operations had failed. The airline’s request for…

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Leading automotive representatives warn of catastrophic consequences of a ‘no deal’ Brexit

A month before Britain is due to quit the European Union, the bloc’s car-makers have joined forces to warn of billions of euros in losses in the event of a…

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Saudi Arabia to restore full oil output by next week

Saudi Arabia has restored around 75 per cent of crude output lost after attacks on its facilities and return to full volumes by early next week, a source briefed on…

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The world’s reached a turning point on data and privacy, says Microsoft President Brad Smith

The world is at a turning point as people demand more control over the technology they use and their data, the President of Microsoft has said at an event in…

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UK tanker Stena Impero release imminent

Stena Impero, the British-flagged tanker detained by Iran on July 19, will be released soon, an Iranian maritime official. The Stena Impero was detained by Iran’s Revolutionary Guards in the…

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Greek economy shows signs of recovery

Greece's creditors are returning to Athens on for a fourth post-bailout evaluation to review whether Prime Minister Kyriakos Mitsotakis' planned tax cuts will affect Greece's economic results. A key factor…

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British Government and UK CAA launches largest repatriation in peacetime history after collapse of Thomas Cook

Following the collapse of Thomas Cook and the cancellation of all its flights, British Transport Secretary Grant Shapps has announced that the government and UK Civil Aviation Authority (CAA) has…

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British Foreign Office Advisory for British tourists in Malta following the collapse of Thomas Cook

The British Foreign Office has issued the following advisory for British citizens in Malta following the announcement that Thomas Cook has ceased trading. If you’re travelling and have been…

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Roughly 600,000 travellers stranded around the world after British tour operator Thomas Cook declares bankruptcy (Updated)

British tour operator Thomas Cook has ceased trading and all its hundreds of thousands of bookings canceled after the firm failed to secure rescue funding. The Civil Aviation Authority announced…

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Planes put on standby to rescue travellers as talks continue for last-minute bailout of Thomas Cook

An emergency fleet of airlines is on standby to rescue 150,000 UK holidaymakers as talks continue between Thomas Cook and the government over a last-minute bailout. Sources described the negotiations…

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SkyTeam failed to deliver on promises and value to customers and airlines – Delta Airlines CEO

Delta CEO Ed Bastian told Bloomberg that the SkyTeam, of which Delta is a part, hasn’t “brought a lot of great value to customers..[or] to member airlines” and so they’re…

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MISCO announced the publication of The MISCO Salaries and Benefits Report 2019-20

MISCO announced the publication of The MISCO Salaries and Benefits Report 2019-20. This report, which has been published annually for the last 34 years, is the most sought after tool…

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FAA waiting for more software details before 737 MAX can return to service

Boeing Co still has a series of steps to complete before the 737 MAX can return to service, including submitting a pre-production version of a software update, Federal Aviation Administration…

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Thomas Cook on the brink of collapse

Shares in Thomas Cook plummeted 20% on Friday after it issued a statement confirming it needed to find an extra £200m to plug a financial hole. Thomas Cook could fall…

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New Apple products go on sale at Apple Store in Frankfurt Main

Customers queue outside an Apple store during the start of sales of the iPhone 11, iPhone 11 Pro, and Apple Watch Series 5 at the Apple Store in Frankfurt Main,…

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Microsoft Flagship School opens doors in Gdynia in Poland

One of the most innovative and technologically developed educational institutions in the world was inaugurated recently in Gdynia. School Complex No. 8, included in the Microsoft Flagship School program, has…

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Another Swiss bank enters into cryptoassets

Arab Bank Switzerland has teamed up with blockchain technology firm Taurus to offer its wealthy clients access to bitcoin and ethereum. The bank joins a growing list of established players…

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UK banks sign up to U.N.-backed responsible banking code

Britain’s banks will implement U.N.-backed “responsible banking” principles being launched next week that will influence lending and company behaviour, British banking trade body UK Finance said. The principles seek to…

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Misco holds summer graduation ceremony

Thirty-five students received their qualification certificates at the Misco summer graduation ceremony. The graduates successfully completed Level 5 Awards in one of the five study programmes accredited by the National…

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Photo Story: Highlights of the exhibition ‘Mythos Alfa Romeo’ in Germany

A series of photos from the Exhibition Mythos Alfa Romeo at Technology Museum in Sinsheim, Germany. The special exhibition Mythos Alfa Romeo at the Museum of Technology begins on 19…

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Trump attacks Federal Reserve Chair after rate cut was less generous than he expected

President Donald Trump blasted the Federal Reserve Chair Jerome Powell as a “terrible communicator,” after the U.S. central bank’s rate cut was less generous than what Trump wanted. The Federal…

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Germany passes comprehensive blockchain strategy, vows to fight any efforts to issue parallel currencies

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Microsoft to donate all the money it makes from tickets to this year’s X019 event to charity

Microsoft will donate all the money it makes from selling tickets to this year’s X019 event in the UK to gaming charity SpecialEffect. Tickets to attend the highly-anticipated Xbox show,…

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Island Insurance Brokers Celebrates 30th Anniversary with collective art exhibition

Island Insurance Brokers Ltd was this year celebrating the 30th anniversary since the start of its operations in 1989. These celebrations reach their climax later this month with the inauguration…

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Oil price recedes on Saudi supply reassurance

Oil prices cooled on Wednesday as Saudi Arabia said the kingdom had fully restored its oil supply following attacks on its crude facilities although caution ahead of an expected U.S.…

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Apple takes fight against 13-billion-euro EU tax order to court

Apple will launch a legal challenge on Tuesday to a European Commission order to pay 13 billion euros ($14.4 billion) in Irish back taxes in a landmark case in the…

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Paris wants to give €500 subsidies for e-bikes

The Île-de-France transport authority plans to offer citizens €500 to buy an e-bike in 2020. A growing number of local and national governments are following this model to make green…

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Around 12 million children may never see a classroom, UNESCO data reveals

New data published by the United Nations cultural agency, reveals that without taking urgent measures, around 12 million young children will never set foot inside a school, with girls facing…

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Disney CEO resigns from Apple board

Apple Inc announced that Walt Disney Co Chief Executive Officer Bob Iger had resigned from the company’s board of directors on Sept. 10 as the two companies prepare to compete…

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KLM to cut one daily flight from Brussels to Amsterdam

The Dutch airline, KLM, will cancel one of its daily flights between Brussels and Amsterdam Schiphol in March 2020, the company announced. Instead of the flight, passengers will be encouraged…

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France and Germany agree to block Facebook’s Libra

France and Germany have agreed to block Facebook’s Libra cryptocurrency, the French finance ministry said on Friday. In a joint statement, the two governments affirmed that “no private entity can…

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German government insists economy not heading for pronounced recession

Europe’s largest economy is not facing a bigger downturn or a pronounced recession after contracting slightly in the second quarter but there are no signs of a turnaround yet either,…

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Attempt to disrupt Heathrow air traffic with drones thwarted

Climate change protesters trying to fly drones to disrupt Heathrow Airport claim they have been blocked by "signal jamming" as two people were arrested on Friday. Heathrow Pause - a…

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Additional round of layoffs at Uber

Uber announced an additional round of layoffs Tuesday, this time from its product and engineering teams. A total of 435 people are to be laid off, or around 8 percent…

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Paris braces for Friday’s massive public transport strike

Public transport in Paris will be extremely disrupted on Friday due to a strike called by transport unions. Transport unions have called for a major walk-out in protest against pension…

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France fines Google nearly €1 billion

The French government and Google have reached a €945 billion settlement over tax fraud allegations, concluding investigations by authorities that have been ongoing for years. A Paris court approved the penalty on Thursday of €500…

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Netanyahu’s Facebook page suspended

Facebook has sanctioned Benjamin Netanyahu’s official page, after a post called on voters to oppose a government composed of “Arabs who want to destroy us all – women, children and men.” Facebook said the…

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Photo Story: Highlights from the Frankfurt International Motor Show

Photographic highlights of some of the vehicles on display during the International Motor Show (IAA) in Frankfurt, Germany. The 2019 International Motor Show Germany IAA 2019, which this year promotes…

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Boris Johnson pledges to bring shipbuilding back to the UK

Thousands of jobs in the British shipping industry will be created over the next decade, the Prime Minister Boris Johnson will announce on Thursday, as he pledges to bring shipbuilding…

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Warning of higher risk of recession in Germany

There is an almost 60% chance that the German economy could fall into recession, according to a monthly index gauging the health of Europe’s largest economy published on Thursday by…

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