AXA SA has partnered with Africa Internet Group to become the sole supplier of insurance products in Africa. The transaction will promote AXA's business strategy and help the French insurer to serve the African society.
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Amplats profits dropped by an alarming 86%
Amplats revealed a shocking 86% loss in its 2015 earnings report. The world's largest metal producer is facing a grim situation of reduced capital expenditure, mine closure, employment cutbacks, and shelving of projects.
Facebook India: Facebook’s Free Limited Internet Access Program Stays Banned, Following the TRAI Decision
India’s internet regulator, the TRAI, had officially banned Facebook’s Free Basics program. The program has been banned for a few months now, but TRAI has been willing to reevaluate the terms until it came up with the decision that the program would not be allowed in the country. The Free Basics program was banned due to concerns over internet neutrality.
Advisory Services of Barclays, Credit Suisse and Evercore Fail To Protect Apollo Education From Acquisition
Barclays, Credit Suisse and Evercore have acted as financial advisers to Apollo Education. Despite their advisory efforts, the institution has incurred a loss of $60.8 million during the last concluded fiscal quarter. Finally, Apollo Education has been compelled to go through acquisition for $1.1 billion.
CEO Reggie Aggarwal narrates success journey of Cvent
The era of start-ups has been started in India with the recent years witnessing the conversion of ideas into firms propelled by the easily available funding. CEO of Cvent Inc, Reggie Aggarwal, says that he has a 'realistic view' regarding this race in the start-up arena.
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The company announced that it had broken even in India and six other foreign countries, making the Indian e-commerce the first to achieve that milestone. Zomato, valued at over $1 billion, is going to start another funding round before becoming profitable by mid-2016.
The Russian Central Bank revoked license for banking for two banks, the Interkommerzbank and Alta Bank. The license revoke is part of the tougher regulation set by the Russian government to help strengthen the country's economy.
BaFin has imposed an embargo on Sunday shunning all transactions of Maple Bank. The embargo comes followed by investigations by the regulator on the allegation of tax dodging. However, National Bank of Canada, the parent organization of Maple Financial Group pledges for repatriation of the dividends taken from Maple, if proves guilty.
The Norwegian government is reeling under pressure owing to oil price drop. The lower oil price is eroding revenues for the government. The Norwegian government is counting on state's dividends from Statoil ASA.
As part of reducing costs, the Japanese government is seeking lower drug prices by moving towards more generics. The ageing population and rising debt are taking a toll on the Shinzo Abe's government. The Japanese government is aiming to reduce prices of branded drugs.
Chobani, founded by billionaire Hamdi Ulukaya, turned down an offer made by Pepsico this Friday. The beverage giant wanted to buy out the majority stake in the Greek yogurt maker, but Chobani was only interested to sell the minority stake, resulting in the deal fallout.
iRobot is selling its military division of its company for up to $45 million. The sale was because of pressure from shareholders.
Qube Holdings have come up with a more tempting offer than its competition, Brookfield, in acquiring Asciano. A greater cash component thrown into the deal has tipped the scales in their favor, which Brookfield has only five days to match.
GitHub is experiencing a huge inner havoc as many executives flee from the company. Chris Wanstrath has been overhauling the firm's culture backed by its board.
