World Business

World Business

Despite Challenges, Uber to Further Expand in Canada

CANADA - Despite facing a long list of challenges in Cabada, taxi-hailing corporation Uber is not giving up on Canada, despite its current row...

Oil Price Forecast To Hit New Lows in 2015

Prices of oil in the world market could hit new lows this year due to increased production and peak seasonal refinery maintenance in October,...

Co-CEOs of Deutsche Bank Offered To Resign

Two weeks after Deutsche Bank gave one of its co-chief executives more power, the two Co-CEO have reportedly offered to resign, Reuters has reported....

US Unemployment Hits Seven-Year Low in April

WASHINGTON - Unemployment rate in the United States dropped to 5.4 percent in April, the lowest rate since May 2008, after 223,000 jobs were...

A.M. Best Affirms Ratings of First Insurance Company

LONDON - A.M. Best has affirmed the financial strength rating of B++ (Good) and the issuer credit rating of "bbb" of First Insurance Company...

Bank of Tanzania Gets Award for Governance Risk and Compliance Project in Africa

TANZANIA - The Bank of Tanzania, the central bank of the United Republic of Tanzania, was awarded the title of "Best Governance Risk and...

US Economy Contracts As India Surges In First Quarter

The US government has reported that the country's economy contracted by 0.7 percent annually in the first quarter of this year, lower than the...

Michael Jordan Joins Forbes Rich List; Bill Gates Still Richest Man

Former National Basketball Association (NBA) superstar Michael Jordan has joined Forbes magazine's annual list of the world's richest people for the first time with...

Trek Bicycle To Recall About One Million Bikes in US, Canada

CALIFORNIA - Trek Bicycle Corporation, a major bicycle product manufacturer and distributor, has ordered a recall of about one million bicycles following the injuries...

Botswana Life Insurance Takes ‘Pride’ in New Corporate Identity

Botswana Life Insurance Limited (BLIL), the country's oldest and only home-grown life insurer, has unveiled a new corporate identity during its 40th anniversary celebration. BLIL,...

Avon Reports 18 Percent Revenue Fall in First Quarter

USA - Avon Products, the 129-year-old cosmetics empire that directly sells beauty products, seemed to have lost its appeal a little bit in the...

Mandarin Oriental Confirms Credit Card Breach in Some US, Europe Hotels

Mandarin Oriental confirms that the credit card systems in a limited number of its hotels in the US and Europe have been accessed without...

Teleperformance Wins Contact Center Service Provider of the Year Award

Teleperformance, one of the world’s top providers of outsourced customer experience management services, received its fourth consecutive Frost & Sullivan Asia Pacific Contact Center...

New York Life Names Edward Shirley to Board of Directors

Former Bacardi Ltd President and CEO Edward Shirley has been elected to the Board of Directors of New York Life Insurance Company effective 01...

Analyst Upgrade Fails to Lift Pfizer (NYSE:PFE)’s Stock

Pharmaceutical blue chip Pfizer Inc (NYSE:PFE)'s stock receive analyst upgrades on Tuesday but the news was not well-received by investors as PFE's shares were...

Pakistan To Ink USD50-Billion Deals With China

ISLAMABAD, PAKISTAN - China, the world's second-largest economy, is set to sign deals worth USD50 billion with Pakistan under the China-Pakistan Economic Corridor (CPEC),...

Commercial International Bank (Egypt) Concludes Sale of Insurance Stakes to AXA

CAIRO, Egypt – The Commercial International Bank (Egypt) has informed the Egyptian Exchange that it has finalized the procedures of selling the bank stake...

Cox Employee Relief Fund Surpasses USD4m in Employee Grants

ATLANTA - More than 1,700 employees have received direct assistance from the Cox Employee Relief Fund (CERF) since it was established a decade ago. CERF...

Abbott Laboratories (NYSE:ABT) Upgraded to Buy from Hold

Abbott Laboratories (NYSE:ABT) received an upgrade by equity research analysts at Jefferies & Co Monday morning from Hold to Buy. Jefferies & Co also set...

Barclays Upgrades PBF Energy (NYSE:PBF) To Equal Weight

Petroleum refiner PBF Energy Inc (NYSE:PBF) was upgraded by Barclays to Equal Weight from Underweight and raised the price target from $32.00 to $38.00...