In an effort to enhance its market share in the global oil market and challenge the likes of Saudi Arabia and Iraq, OPEC member Iran has offered to increase the discount on freight for oil sale to India against a pledge from New Delhi of increased imports.   Iran is hoping that the appeal of...

A lot of money is being expended for mining of bitcoins in South Korea.   Recent data released by lighting and furniture firm Elite Fixtures shows that $26,170 is the cost that is incurred in the process of mining just one bitcoin in South Korea. It is the largest market in the world for the...

American billionaire investor Warren Buffett invested $ 360 million in the purchase of shares in the Israeli pharmaceutical company Teva, which caused a revival in the stock market. Teva’s shares jumped in price by 11%, raising the quotes of other pharmaceutical companies. Last night, Warren...

The Japanese industrial conglomerate Toshiba predicts the first profit for four years. As a result of the current fiscal year (to be completed in late March), the company expects a net profit of 520 billion yen ($ 4.86 billion), while previously losses were predicted at 110 billion yen. Analysts...

Swiss bank Credit Suisse recorded an annual loss for the third consecutive year and reported write-offs in the fourth quarter of 2017 in connection with the tax reform in the US, CNBC reported. The net loss of the bank in 2017 was 983 million Swiss francs ($ 1.05 billion). Credit Suisse reported...

Sales of the BMW Group increased in January by 3.8%, which was facilitated by the appearance of new and updated old car models. Bavarian automaker Bayerische Motoren Werke said that sales in January rose to 169538 vehicles, as the brand's sales rose 3.4% to 148400 vehicles. The increase in sales...

Given the forecast that there would be a very significant growth in the shipping industry in India, DP World, a port operator based in Dubai is anticipating to play a large part and is seeking ways and means to get involved in the shoring up of the logistics and transport infrastructure there....

Last December, Amazon announced purchase of Blink company. It specializes in the development of wireless surveillance cameras and smart doorbells, through which home owners can see in real time who is at their door using their smartphones. The financial terms of the deal were not disclosed, but...

The already tarnished image of the big banks of Australia may take another hit just before an inquiry into their businesses because they are set to cut jobs and other costs as they react to a revenue crunch.   Cost curtailment has been go-to method for the so-called Australia’s Big Four...