China’s COSCO Shipping offers $6.3 billion for Orient Overseas Ltd

COSCO Shipping Holdings Co Ltd has offered to buy Orient Overseas International Ltd (OOIL) for HK$49.23 billion ($6.30 billion), in a deal that will see the mainland China group become the world’s third largest container liner. The proposed deal is the latest in wave of mergers and acquisitions in global container shipping that has left […]

Rwanda GDP grows by 1.7 percent in Q1 2017- Stats bureau

Rwanda’s statistics bureau said the country’s gross domestic product (GDP) grew by 1.7 percent in the first quarter of 2017 compared with the same period in 2016 according to Reuters. The services sector accounted for 46 percent of GDP, agriculture for another 32 percent and the industrial sector another 15 percent, the National Institute of […]

India launches massive tax reform as businesses brace up for tough time

Prime Minister Narendra Modi launched India’s biggest tax reform in its 70-year history, as businesses and citizens across the country steeled themselves for the economic turmoil that’s expected to follow, Bloomberg reports. The new goods and services tax was formally ushered in at a late-night session of parliament, reminiscent of the midnight meeting presided over by […]