radiofree.asia

Category: Business

  • British aircraft maker Rolls-Royce hit hard by pandemic, which lost $5.6 billion in 2020

    Muqeem Ahmad, London,

    Rolls-Royce, the world’s largest supplier of jet engines, lost 5.6 billion in 2020. According to experts, they did not expect such a big loss. Corona virus, lockdown and travel bans leave thousands of planes stranded around the world.

    Rolls-Royce collects from its customers on an hourly basis. Due to which Rolls-Royce company is facing profit reduction and difficulties. However, Rolls-Royce is ready to face the worst situation as it still has enough capital and foundations.

    Rolls-Royce plans to raise $2.8 billion from the sale of its assets in Spain, after the news broke Shares of the company gained 2.7%.Experts say the sale of assets by Rolls-Royce is a viable plan

    This post was originally published on VOSA.

  • TV prices to go up from April as open-cell panels get costlier in global markets

    The cost of open-cell panels has gone up in the global markets by up to 35 per cent in the past one month

    This post was originally published on The Asian Age | Home.

  • Apple starts assembly of iPhone 12 in India

    While the company did not name the supplier partners, sources said Foxconn will be making the iPhone 12 at a facility in TamilNadu

    This post was originally published on The Asian Age | Home.

  • NZ Super Fund dumps Israeli banks for funding settlements in Palestine

    By Roger Fowler in Auckland

    The multi-billion-dollar NZ Super Fund  – New Zealand’s state pension fund – has finally divested from five of Israel’s biggest banks due to their funding of illegal settlement construction in the Occupied Palestinian Territories.

    New Zealand Green Party MP Golriz Ghahraman said the party welcomed the decision, telling The Spinoff:

    “Our nation’s values and legal obligations have been long in breach by investments facilitating what the United Nations has consistently called an illegal occupation, causing the suffering of the Palestinian people, and leading to a number of other breaches of humanitarian law.”

    A Palestine Solidarity Network Aotearoa (PSNA) statement last week said that Palestinian supporters in Aotearoa-New Zealand had frequently complained about these banks to the NZ Super Fund, especially following a 2018 report by Human Rights Watch which identified their active participation in settlement building in breach of international law.

    In 2012, the NZ Super Fund ended its investment with three Israeli companies on ethical grounds. These were companies that were directly building illegal settlements on Palestinian land.

    Palestine Solidarity Network Aotearoa spokesperson Janfrie Wakim said that the NZ Super Fund had, at last, conducted a thorough investigation and reached a firm conclusion that it would be unethical to continue to invest in these banks.

    “There is a wealth of reliable information and law that makes any continuing NZ Super Fund investment with these banks untenable. No New Zealand institution should provide any support to the ongoing dispossession of the Palestinian people in their homeland and the brutal Israeli occupation,” she said.

    “The fund still has investments in other Israeli companies, and the fund says it will be paying close attention to any future reports from the United Nations High Commissioner for Human Rights about the culpability of other Israeli companies in illegal settlement construction.”

    NZ government ‘lagging behind’
    Janfrie Wakim also said that the NZ Super Fund divestment decision – and the evidence it had used – had shown up what she called a “dreadful lagging behind” by the New Zealand government.

    “The NZ Super Fund divested in weapons manufacturer Elbit Systems in its first round of Israeli disinvestment in 2012,” Wakim said.

    “Yet, the New Zealand government has admitted to buying military equipment, ground tested on Palestinians, from Elbit Systems, which is the very same company which the NZ Super Fund dropped from its portfolio in 2012.”

    Roger Fowler is a veteran peace activist and community advocate from Auckland, Aotearoa-New Zealand, and coordinator of Kia Ora Gaza which organises support for international solidarity convoys and the Freedom Flotillas to break Israel’s illegal blockade of Gaza. Fowler is editor of kiaoragaza.net. This article was first published in The Palestine Chronicle and is republished by Asia Pacific Report with permission.

    • The NZ Super Fund document on the Israeli banks is here.

     

    This post was originally published on Asia Pacific Report.

  • MEPs back law to hold firms to account for environment and human rights abuses

    Big majority in EU parliament vote for corporate due diligence along entire supply chains, which will include UK businesses

    The EU took a step closer to holding companies to account for environmental damage and human rights abuses committed by their subsidiaries and suppliers overseas, with a vote in the European parliament on Wednesday.

    MEPs voted by a large majority, 504 to 79 (with 112 abstentions), to push forward with proposed legislation that would require companies to conduct due diligence throughout their supply chain, to root out abuses and environmental harm such as deforestation and pollution.

    Continue reading…

    This post was originally published on Human rights | The Guardian.

  • State Capture: top corporations identified as members of both Liberal and Labor parties

    Political donations, Liberal Party, Labor Party, AEC
    Companies which benefit enormously from government policy are also actual members of both the major political parties. A surprising data investigation by Stephanie Tran shows the likes of Woodside, Wesfarmers, PwC and ASX are Platinum members of the Liberal and Labor parties and membership fees are identical.

    This post was originally published on Michael West.

  • Aged care giants extort government for funding hike, threaten campaign in marginal seats

    aged care royal commission
    Australia’s biggest private and corporatised charities in aged care are threatening the government with a political campaign if they don’t get more money, on top of the $21 billion in government funding they get already. Throwing money at large providers has not worked, write Elizabeth Minter and Dr Sarah Russell, in a call for greater transparency and significant reform for the sector.

    This post was originally published on Michael West.

  • Cars regain speed, clock 24% growth in February

    Maruti Suzuki, India’s biggest car maker by sales, said it sales in February jumped 11.8 per cent to 1,52,983 units from 1,36,849 units

    This post was originally published on The Asian Age | Home.

  • Indian economy in +ve zone, grows 0.4%

    The size of the economy had shrunken in the April-June and July-September quarters, pulling down the country into a technician recession

    This post was originally published on The Asian Age | Home.

  • Union Cabinet nod for PLI scheme for pharmaceuticals, IT hardware

    It proposes production linked incentive to boost domestic manufacturing and attract large investments in the value chain of these products

    This post was originally published on The Asian Age | Home.

  • IT sector continues to see sequential growth in hiring in January: Report

    Bengaluru and Hyderabad are the highest paying cities for IT jobs in India for the salary bracket of Rs 25 lakhs or more

    This post was originally published on The Asian Age | Home.

  • Microsoft CEO Satya Nadella bats for global regulation on privacy

    He says, regulations are in place and initiatives such as General Data Protection Regulations (GDPR) are spreading worldwide

    This post was originally published on The Asian Age | Home.

  • Laughing Stock: Australia’s new media code rivals our climate policy for absurdity

    Google good, Facebook bad. That sums up mainstream media coverage of the Coalition government’s bizarre new media code. Google paid up, Facebook decided it was extortion and called Josh Frydenberg’s bluff, banning Australian news. Kim Wingerei and Michael West report on the corruption of mainstream media.

    This post was originally published on Michael West.

  • Globo Asia Pakistan, Bahrain Chapter hold a Real estate and property exhibition in Manama.

    Zaka Mohsin, Manama,

    Globo Asia Pakistan, Bahrain Chapter will hold a Real estate and property exhibition in Manama, Bahrain on February 25 and 26. A meeting of Pakistani and Bahraini businessmen was held in Bahrain for this important exhibition which aims to promote investment opportunities in real estate in Pakistan.

    On finalizing of the arrangements for the exhibition, the organizer of the exhibition Imran Khattak said that a property exhibition is being organized to promote foreign investment in Pakistan.

    In addition to investing in real estate for Pakistani businessmen abroad, the aim is to educate foreign investors about real estate in various sectors of Pakistan and to draw their attention to it.

    This post was originally published on VOSA.

  • $614 million loss force Airbus to halt production of A380 Super Jumbo.

    Muqeem Ahmad, London,

    Year 2020 was the most difficult for Airbus and it lost becomes 510 million Euros or 614 million dollars, according to European aircraft maker Airbus.

    Global travel restrictions, lockdowns and the closure of business and tourism activities forced Airbus to halt production of A380 Super Jumbo, and many such projects had to close with heavy losses. While Airbus has not received any major orders for jets in 2021, it has stopped distributing profits to shareholders this year in a row.

    On the other hand, Airbus’s customer airline is also facing severe difficulties. Air France’s, KLM and other international airlines have been affected by the pandemic and the sale of new aircraft is almost non-existent.

    The Airbus factories still have 100 jets ready and have no buyers. The global aviation industry has high hopes for an end to the Corona virus pandemic, which will be able lead to resumption of travel and tourism.

    This post was originally published on VOSA.

  • Job prospects look up for freshers: Survey

    Information technology, telecommunications, e-commerce and technology start-ups seem to be the leaders in terms of hiring intent

    This post was originally published on The Asian Age | Home.

  • Tata Electronics to set up component-making plant in TN

    These industrial parks will create employment opportunities for more than one lakh people, the government said

    This post was originally published on The Asian Age | Home.

  • Govt to bring amendments to two Acts to enable privatisation of PSU banks

    Finance Minister announced privatisation of Public Sector Banks (PSBs) as part of disinvestment drive to garner Rs 1.75 lakh crore

    This post was originally published on The Asian Age | Home.

  • Pay The Bully?Townsville paper hits peak nasty as Rupert Murdoch demands bail-out

    Townsville Bulletin AC
    Hiding behind a pay wall and in hoc to its advertisers, The Townsville Bulletin is a law unto itself in Queensland as its owners demand subsidies from the Government. Should we pay? asks Kim Wingerie?

    This post was originally published on Michael West.

  • FASTag mandatory from Monday midnight; vehicles sans tag to pay double toll fee

    All lanes in the fee plazas on National Highways shall be declared as ‘FASTag lane of the fee plaza’ from midnight of 15th/16th Feb 2021

    This post was originally published on The Asian Age | Home.

  • Global trade recovers in December quarter

    India keeps trade share in pharma, loses in apparels

    This post was originally published on The Asian Age | Home.

  • PTI USA delegation meets Consul General Ayesha Ali

    New York:

    Pakistan Tehreek-e-Insaaf (PTI) USA delegation headed by president Amjad Nawaz visited Pakistan Consulate Office New York. Ms. Ayesha Ali Consul General, welcomed the delegation and discussed important community related matters including government’s new economic and business initiatives.

    PTI USA delegation were consist on finance secretary Imran Qazi, senior advisor Zaman Afridi and senior hint secretary of membership Umer Farooq.

    Meanwhile, Vice Consul General Nawab Adil khan were also present in meeting.

    “PTI USA will work closely woth government to creat awareness and encourage business investment”, Amjad nawaz assured to Consul General Ayesha Ali.

    It has been jointly agreed in meeting to conduct seminar and webinar for speedy awareness regarding trade, investment and also highlight government’s new policies related to create opportunities of safe investment for overseas Pakistani.

    This post was originally published on VOSA.

  • Amazon moves Supreme Court in Future-Reliance deal dispute

    Justice Midha had directed FRL and other parties to maintain status quo till pronouncement of the reserved order

    This post was originally published on The Asian Age | Home.

  • Petrol, diesel prices at fresh highs as rates up for 2nd straight day

    The increase took petrol price to an all-time high of Rs 87.60 a litre in Delhi and to Rs 94.12 in Mumbai

    This post was originally published on The Asian Age | Home.

  • ‘Not suitable’: where to now for James Packer and Crown’s other casinos?

    Crown Casino Sydney
    The Packer directors are gone. Guy Jalland and Michael Johnston have left the Crown Resorts board in the wake of dramatic findings of the Bergin Report. Chair Helen Coonan and others will remain under pressure. After all, they are responsible, they are the directors, and Justice Bergin found Crown was not suitable to run a casino. So, what’s next, asks Charles Livingstone?

    This post was originally published on Michael West.

  • HSBC urged to unfreeze accounts of Hong Kong activist

    International politicians say the bank, already under fire for backing China’s security law, could ‘gravely tarnish’ its reputation

    An international group of senior politicians have written to the chairman of HSBC, Mark Tucker, urging him unfreeze bank accounts linked to a high-profile pro-democracy activist from Hong Kong.

    More than 50 members of the Inter-Parliamentary Alliance on China – including representatives from the UK, Canada, Australia, France, Germany and Switzerland – are calling for the immediate release of funds belonging to Ted Hui and his family, and a formal explanation of HSBC’s decision to freeze their accounts.

    Continue reading…

    This post was originally published on Human rights | The Guardian.

  • Seeing positive signs, but Indian aviation sector still in eye of storm: Airbus India

    Indian airlines are now carrying 60 per cent of the total pre-COVID domestic passengers and this is better than most countries in the world

    This post was originally published on The Asian Age | Home.

  • Drinks giant Kirin urged to cut ties with Myanmar joint venture linked to military

    Japanese beer company effectively ‘empowers’ junta through its joint ventures, rights group says

    Human rights groups have urged Japanese brewing giant Kirin, the multinational behind beer brands XXXX, Tooheys, Kirin, and Little Creatures, to cut ties with its Myanmar business operations, alleging its continued part-ownership of two military-linked breweries there makes it effectively complicit in war crimes committed by the military in Myanmar.

    The company owns just over half of of both Myanmar Brewery and Mandalay Brewery in partnership with Myanmar Economic Holdings Ltd (MEHL), a company controlled by the country’s military that a UN investigation has found is overseen by the commander-in-chief Senior General Min Aung Hlaing.

    Related: Myanmar coup: civil disobedience campaign begins amid calls for Aung San Suu Kyi’s release

    Related: Australia faces calls to cut military ties with Myanmar after coup

    Related: Myanmar coup: who are the military figures running the country?

    Continue reading…

    This post was originally published on Human rights | The Guardian.

  • Major decline in British exports after a Month from Brexit

    Muqeem Ahmad,UK,

    After Brexit from European Union (EU), major decline noticed in British exports, while spending’s on imported goods and paperwork increased so does loss of time and resources custom agents added.

    According to a customs agent, overnight establishment of a full-fledged operational port suggests that UK has imposed economic sanctions on itself.UK separated from EU on December 31 after 47 years.

    According to trading companies, trade between UK and EU, companies are facing red tape and smaller companies are suffering the most.

    Customs agent John Swallow said his company had been sending 10,000 trucks to EU each year, with the same number of trucks coming to UK. But exports are almost non-existent in January and the cost of bringing goods to the UK has risen.

    British Prime Minister Boris Johnson has said that small companies will have to adapt these changes

    This post was originally published on VOSA.

  • Jeff Bezos, Amazon’s founder, will step down as CEO

    Bezos, who is the company’s biggest shareholder, will still have broad influence over Amazon

    This post was originally published on The Asian Age | Home.