INDIAN CABINET CLEARS INDIA-QATAR ACCOUNTING DEAL

HIGHLIGHTS

• The Union Cabinet has cleared India – Qatar deal on accounting profession.
• The new deal is expected to enhance cooperation between ICAI and QFCA with regards to strengthening the accounting profession and the entrepreneurship base in ...

HYUNDAI MOTOR’S NET PROFIT FOR Q1 ROSE TO $1.36 BILLION

Highlights –

• Hyundai Motor’s net profit for Q1 rose to $1.36 billion.
• The result is said to have exceeded the median forecast of 1.32 trillion won.
• Hyundai plans to focus on promoting the IONIQ 5 all-electric model.
• I...

SAMSUNG ELECTRONICS EMBROILED IN LEGAL BATTLE AGAINST PROSECUTORS

• Samsung Electronics is facing rough weather as never seen before, finding itself in the midst of another legal battle against prosecutors as its heir apparent Lee Jae-yong on Tuesday was impeached for his alleged role in a 2015 merger and fraudulent accounting.
• Legal representa...

Trade war, Hong Kong protests predicted to hit global retail sales growth in 2020

A report issued on Wednesday reported that global retail sales growth will be slow by 2020 as the industry grapples with the ongoing ramifications of the US-China trade war and intensified online competition.

The Economist Intelligence Unit said revenue growth will slow to 2,2% next yea...

General Electric to Pay USD 1.5 Billion Penalty on Mortgage Accounting Violations

General Electric Co. (NYSE: GE) has agreed to pay the Department of Justice a USD 1.5 Billion penalty due to accounting misrepresentations derived from its mortgage business WMC.   Analysts have expected the settlement in size as the company has already set aside the cash in reserve in 2018. The ...