Chinese stocks rose on Monday over the belief that lenient inflation data would promote policymakers to elevate the economic condition by additional financial easing. The benchmark Shanghai composite Index in China ended the trading session at 30333.96.
Archives
Puerto Rico Central Bank Governor Restricts Withdrawal To Avert Default in $423M Debt Repayment
Alejandro Garcia Padilla, governor of the Puerto Rica’s central bank, Government Central Bank, has announced an executive order on Saturday. The order restricts withdrawal of funds except for the emergency services in a bid to avoid default in $423 debt repayment scheduled on May 1. Analysts have already warned that failure in debt repayment will definitely attract a default status for GDB.
StanChart To Dispose Assets Worth $4.4 Billion in Asia Including $1.4 Billion in India
StanChart has reportedly been considering for disposing of risk weighted assets worth $4.4 billion in India, China, Indonesia and Malaysia. To be liquidated assets in India will worth around $1.4 billion following an internal classification of businesses with risk for default. The move is going to take place since the lender pares its balance sheet after booking record impairments.
Accel Announced New $500 Million Fund Targeting European and Israeli Startups
Palo Alto-based venture firm Accel has raised a new fund. The fund is targeting the next generation of entrepreneurs in Europe and Israel.
Charter Communication CEO Met FCC Regarding Acquisition of Time Warner Cable
Tom Rutledge has met FCC chairman Tom Wheeler last week to talk the acquisition. As the merger has already been past its late March informal deadline for approval.
Latest News
The market share of Nippon Ceramic's 92 cents sensor increased amid the growing interest in the autonomous driving sector. Automakers like Ford Motor and Toyota Motor along with technology companies like Google, Alphabet, and Baidu intend to unveil robot cars within the next five years.
The Taiwanese company unveiled its new smartphone prior to launching. The smartphone is available in three colors.
China's oil giant reported a 67% drop in profit. PetroChina reported its worst profit in 15 years which brought liability to $162 billion.
Stoxx Europe 600 Index continued last week's gain. The index sets a new course for the first back-to-back advance in two weeks.
Japanese yen surged against dollar on Monday. Speculation from non-Japanese short-term currency players pushed the currency to the highest point against dollar.
Mexico will ship up to 500,000 metric tons of sugar to U.S. without any modification on the agreement being signed by the two nations on December 14. U.S. consumers prefer sweeteners from sugarcane over sweeteners manufactured from genetically modified beets.
Google Fiber is now phasing out its free internet option in Kansas City. For existing customers, they may continue usign the service. For subscribers to take advantage of the free internet option, they have to pay an installation fee of $300.
In a battle with German's budget stores, Aldi and Lidl, Iceland introduces its food warehouse concept. The concept is an advancement of its old style format with cash-and-carry style.
Investments in Chinese tech companies had a 50% surge in the first quarter of 2016. Nevertheless, many of the investments were spent in the big startups.
