UK pushing to include Bitcoin under money-laundering rules LONDON (Pakistan Press Club) – Britain wants to increase regulation of Bitcoin and other digital currencies by expanding the reach of European Union anti-money-laundering rules that force traders to disclose their identities and report suspicious activity. With demand for Bitcoin surging, fuelling a 1,000 percent rally in…
Shareholders sue Australia’s Crown Resorts over China marketing SYDNEY (Pakistan Press Club) – Australian casino operator Crown Resorts Ltd (CWN.AX) was slapped with a class action lawsuit on Monday for allegedly failing to inform shareholders of a marketing campaign in China that resulted in staff arrests and a slump in the share price. The company…
Saudi Arabian exchange enlists Nasdaq to turbocharge technology DUBAI (Pakistan Press Club) – Saudi Arabia’s Stock Exchange said on Monday it has hired U.S. group Nasdaq (NDAQ.O) to replace its 16-year-old registry, depository and settlement infrastructure as it tackles challenges including the forthcoming listing of Saudi Aramco. The kingdom is rapidly developing its stock market,…
Global air passenger traffic demand up 7.2 percent in October: IATA Pakistan Press Club – Geneva Global demand for air travel climbed 7.2 percent in October, rebounding after September was disrupted by hurricanes, the International Air Transport Association (IATA) said on Monday. “As expected, the recent severe weather in the Americas region had…
Exxon eyes Egypt’s offshore oil and gas – resources LONDON/VIENNA (Pakistan Press Club) – Exxon Mobil (XOM.N) is considering a foray into Egypt offshore oil and gas, seeking to replicate rivals’ success in the country and boost its reserves, officials and industry sources said. Officials from the world’s largest listed oil producer recently held…
Three Uber security managers resign after CEO criticizes practices SAN FRANCISCO (Pakistan Press Club) – Three senior managers in Uber Technologies Inc’s security unit resigned on Friday, an Uber spokesperson said, days after the company’s new chief executive officer disclosed a massive data breach and criticized past security practices. Uber’s CEO, Dara Khosrowshahi, who was…
Tech firms tell patent court to ignore Allergan deal with tribe (Pakistan Press Club – New York) – Over 30 technology companies including Alphabet Inc (GOOGL.O), Amazon.com Inc (AMZN.O) and Facebook Inc. (FB.O) on Friday urged a U.S. patent court to disregard drugmaker Allergan Plc’s (AGN.N) contention that its transfer of some of its patents…
Latin America’s Renewable Energy Revolution (Pakistan Press Club – New York) For centuries Latin America’s natural resources have helped move the world economy. From the silver galleons that financed the Spanish Empire to the iron and copper exports that are rebuilding China, Latin America’s natural resources have long been sold around the globe. But now…
Italy financial police visit Gucci’s offices in tax probe MILAN (Pakistan Press Club) – Italian tax police have visited the offices of fashion company Gucci for fiscal checks as part of an investigation by Milan prosecutors into suspected tax evasion, a senior source with direct knowledge of the matter said on Saturday. “Gucci confirms that…
Greece, lenders reach deal on reforms under bailout review BRUSSELS (Pakistan Press Club) – Greece and its euro zone creditors reached a preliminary deal on Saturday on reforms Athens needs to roll out under its bailout program, a move that could pave the way for the country to leave the aid plan in August. The…
