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China's currency displacing the dollar in global oil trade? Don't count on it. On March 26, China launched crude oil futures contracts priced in renminbi (RMB) on the Shanghai International Energy Exchange. These contracts are the first RMB-denominated futures that foreigners can directly buy and sell. China is also taking steps to begin paying for some crude oil in RMB rather ...
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Philip Morris International Struggles Despite Lower Taxes, Currency Strength Yet even though the company said that lower taxes would help boost its bottom line throughout the year, and despite reports of long-awaited positive currency impacts, ongoing declines in sales volume stressed Philip Morris' long-term challenges. This showed shareholders that Philip Morris still has a ...
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Cash crunch: Income tax officials raid currency hoarders in Karnataka, Andhra Pradesh; target ... Amid the ongoing cash crunch in the country, tax authorities have reportedly conducted close to 35 raids in Karnataka and in parts of Andhra Pradesh in a bid to corner currency hoarders. Andhra Pradesh and Telangana are reporting acute cash shortages and authorities are examining the role of large ...
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