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Market Capitalization of 100 Global Companies Rises To $20 Trillion

29Jun By Gauri SinghNo Comments

News

Market Capitalization of 100 Global Companies Rises To $20 Trillion

The total market capitalization of the top 100 global companies has risen up by 15 percent since last year to $20 trillion. The US stood at the leading position with 54 companies on the list. In terms of the absolute rise in market capitalization, the best and the strongest performer was Amazon gaining $278 billion or 66 percent in the value compared to the previous year. The companies that come after the e-commerce giant are the two Chinese companies - Tencent, up by $224 billion or 82 percent, and Alibaba, up by $ 201 billion or 75 percent. The next three highest performers in absolute terms are all from the US including Microsoft, Alphabet and Apple. According to the reports, the total capitalization of the top 100 global companies has grown on an annualized basis, since the gl...

Trump threatens China of additional $200 bn Tariffs on Goods

19Jun By Lavina TolaniNo Comments

USA

Trump threatens China of additional $200 bn Tariffs on Goods

While the US-China Trade battle is heating over every day, President Donald Trump on Monday has threatened to impose tariffs on an additional $200 bn of Chinese goods amidst growing conflicts. The White House has said that if China is found going against its promise to retaliate against US tariffs announced last week, US will impose additional tariffs of worth 200 bn dollars on Chinese goods. In a statement that released Monday morning, Trump said, Further action must be taken to encourage China to change its unfair practices, open its market to United States goods, and accept a more balanced trade relationship with the United States. He also said that China has no intention of altering its unfair trade practices and is now threatening US companies workers and farmers who have done...

9Jun By Gauri SinghNo Comments

CHINA

What is SCO Summit? How It Will Help Countries Like India, China & Russia

The Shanghai Cooperation Organisation (SCO) is an organization of countries which was introduced on 15th June 2001 in Shanghai, China. The organization was inaugurated by the leaders of China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, and Uzbekistan. It came into force on 19th September 2003. Currently, an SCO summit is organized in Qingdao, China which is ought to be attended by representatives of all the member countries along with our country’s Prime Minister Narendra Modi. Modi on Saturday morning departed for China to attend the two-day long 18th Shanghai Cooperation Organisation (SCO). WHAT IS SCO? The Shanghai Cooperation Organisation (SCO) is an international alliance that consists of 8 member states and 3 observers from Eurasia. SCO was born for collaboration between...

Meet The World’s Fastest Supercomputer Launched By IBM

9Jun By Gauri SinghNo Comments

Tech

Meet The World’s Fastest Supercomputer Launched By IBM

The International Business Machines Corporation (IBM) along with the U.S. Department of Energy’s Oak Ridge National Laboratory (ORNL) announced the launch of its latest and world’s fastest supercomputer named ‘Summit’. Summit was revealed at Friday at Oak Ridge National Laboratory in Tennessee. The supercomputer highlights a peak performance of tremendous 200,000 trillion calculations per second. That as fast as each of the planet's 7.6 billion people doing 26 million calculations per second on a hand calculator. IBM has declared that ‘Summit’, at present, is the most powerful and intelligent scientific computer in the world. The production and working on the supercomputer has been carried for decades and it seems their efforts have well succeeded. The features of the computer are th...

8Jun By Gauri SinghNo Comments

CHINA

China Plans to Import American Goods Worth $70 Billion

China has reportedly offered to buy agricultural and energy products worth $70 billion approximately from the United States as long as the Trump administration is not moving forward to impose tariffs against the country. This offer popped up during a meeting in Beijing held this weekend between Commerce Secretary Wilbur Ross and the Chinese economic adviser Liu He. The offer revolved all around a package that included that the Chinese companies would buy more of US farm and energy products such as soybeans, corn, natural gas, crude oil, coal and manufactured goods. The estimated value of the package, in this matter, was around $70 billion in the first year as stated previously. China's state-backed newspaper Xinhua said that China is willing to increase imports from other countries, ...

6Jun By Lavina TolaniNo Comments

CHINA

China’s ZTE Signs US Agreement to put itself Back in Business

ZTE Corp, China's leading telecommunication equipment maker has signed an agreement in principle that would lift a US Commerce Department ban on buying from US suppliers, as informed from the sources. ZTE had to cease its major operations post a seven-year ban imposed on the company in April when it breached the 2017 agreement and was caught shipping goods illegally to North Korea and Iran. The U.S. action which was first reported earlier in March had turn devastating for ZTE as China’s second-biggest telecom equipment maker relied heavily on U.S companies such as Qualcomm and Intel for up to a third of its components. While ZTE has refrained itself from commenting on the matter, a commerce department spokesperson has said that "no definitive agreement has been signed by both part...

1Jun By Lavina TolaniNo Comments

CHINA

China to Cut Import Tariffs on Consumer Goods By July 1

The Finance Ministry of China has announced to slash import tariffs on nearly 1,500 consumer products ranging from cosmetics to home appliances from July 1, a move that would boost imports as a part of efforts to open up the economy. This move will be in line with Beijing's pledge to its trade partners-including US that China will push efforts to increase imports offering a boon to global brands looking to extend their reach in China. A detailed list of products that will be affected by the new tax rates has been published by the finance ministry. Import tariffs on footwear, apparel, kitchen supplies will be halved to an average of 7.2 percent from 15.9 percent while refrigerators and washing machines tariffs will be reduced to 8 percent, from 20.5 percent. Skincare and cosmetic p...

29May By Lavina TolaniNo Comments

INDIA

India Might Stop Export Promotion Schemes If Found Prohibited by WTO

India's Export Promotion Programmes have now come under the global scanner and might face a complete suspension if found prohibited by World Trade Organisation (WTO) The WTO on Monday based on US’ request referred Washington’s complaint on India’s export promotion schemes to the Dispute Settlement Body by establishing a panel to look expeditiously in the matter. US had filed a complaint with WTO on account of failing to find a mutually agreed solution within stipulated 30 days to India’s export promotion programmes. An official concerned with the matter told ET, A panel has been established in the DSB today under accelerated timelines of the agreement on subsidies and countervailing measures (SCM) on our export-related measures. With the SCM report filed, the panel will have to ...

Walmart Planning to Launch Flipkart’s IPO in Next 4 years

13May By AnkitaNo Comments

News

Walmart Planning to Launch Flipkart’s IPO in Next 4 years

US retail giant Walmart Inc mentioned in its report to US security exchange that they may come up with an initial public offer (IPO) of Flipkart as early as four years. Walmart in its report said IPO will be at "a valuation no less than that paid by Walmart under the share issuance agreement, subject to the satisfaction of certain other conditions regarding such offering (the IPO)". Which means Walmart can issue the shares of Flipkart at the valuation of $16 billion that it paid to other investors of Flipkart to acquire the 77% shares of Flipkart. Also, the report added, "Shareholders agreement would expire upon the consummation of the IPO, whether initiated by the board or the minority stockholders". "Pursuant to a Registration Rights Agreement to be entered into concurrently wi...

21Apr By Lavina TolaniNo Comments

CHINA

China hits out at US after ZTE Ban

China on Friday hit out at the US for its perfectionist policies by imposing restrictions on its tech firms such as ZTE in the name of national security and said Washington was thinking and acting as a "bully". Hua Chunying, Foreign Minister said in her media interaction, We have noticed that the US has been making relevant moves "one by one" accusing China of technology theft and also exclaiming how Chinese products threaten its national security. Talking about the restrictions in high tech field Hua said that he believes that in the name of national security they are favoring protectionism.She further added, In China, a lot of people have iPhone. Do we think it poses a threat? But in the US, if some American consumers buy Huawei cellphone it is regarded as a national security threa...

14Apr By Lavina TolaniNo Comments

INDIA

India’s Export Fall For the First Time in 5 Months

India's merchandise export has witnessed a plunge in March for the first time ever in five months widening the trade deficit over global trade and the U.S moves to review a programme allowing duty-free imports of goods. The US Trade Representative also said earlier on Thursday, that it has launched reviews over concerns that India and Indonesia were not complying with Generalized System of Preferences (GSP) programme on market access. India's merchandise export has fallen 0.7 percent in March to $29.1 billion, widening the trade gap to $13.7 billion due to an upsurge in imports, as indicated by government data on Friday. Import has risen to $42.8 billion (7.2 percent) in March. Coming to year fiscal close, goods exports has risen 9.8 percent to $302.8 billion while imports have ri...

Trump Proposes Tariffs on $50 Billion Chinese Imports

4Apr By Lavina TolaniNo Comments

USA

Trump Proposes Tariffs on $50 Billion Chinese Imports

US Administration has escalated a stringent move on trade by announcing a 25 percent tariffs on Chinese imports amounting to USD 50 billion. This has come in as a response to the protest against Beijing policies requiring foreign companies to hand over their technology. The proposed list of products subjected to additional 25 percent tariffs are based on an extensive interagency economic analysis and would target products that are benefitted from Chinese plans while minimizing the impact on the American economy. The sectors targeted in the list include products from aerospace, communication and information technology, robotics and machinery. About 1300 different tariff lines in the proposed list will undergo a review in a public notice followed by a hearing post which a final list of...