China is working on a new financial super-regulator mechanism to take care of banking, securities and insurance segments under one umbrella. Recent turmoil in the financial markets are driving the Chinese government to revamp financial monitoring mechanism.
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NASA, Lockheed Martin Collaborate For Quieter 'X-Plane' Project Worth $20 Million
NASA is to built quieter supersonic jet planes that will one day replace passenger jet planes. The $20 million contract was given to Lockheed Martin which will collaborate with NASA for reviving supersonic aviation feasibility studies.
Propery Investors To Face Tough Economic Condition in South Africa
Property investors would face tough economic condition in South Africa due to the economic resession the country is facing. Finance Minister Pravin Gordhan is attempting to overcome this by increasing tax, that could slow down property sales in the country.
Starbucks To Open Its First Milan Chain
Starbucks announced its partnership with Percassi to open its first store in Milan, Italy. Famous coffee chain company Starbucks announced on the 29th of February a partnership to open its first store in Milan, Italy.
India's defense budget down to 1.65% of GDP
India's budget allocation for the defense sector fell for the first time in the latest Union Budget-2016. India had been increasing military budget since its war with China 1962. It was notably down to 1.65 percent from 1.74 percent in previous budget.
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India is about to fund $3.56 billion of capital to govrnment-run lenders because of bad and restricted loans. Banks felt relief as the government is ready to help them when they need the capital.
FBI chief, James B. Comey, has been reported to personally challenge Tim Cook stance. Tim Cook has been considering the battle as fight to secure privacy. Americans are historically sensitive towards government’s intervention over individual privacy. But the cause cherished by the common Americans is believed to prevail in the long run.
GE have been trying attract tech workers since last year. In its new Oscars ad, GE mock the startups and proclaim itself as a tech company and an industrial company.
The technology start-ups in India are looking for investments from Chinese companies like Cheetah Mobile. The booming Indian technology sector is attracting many tech companies in China to invest in these Indian techs start-up firms.
Bikes maker Palo Alto Bicycles, which Silicon Valley startups have often contacted to purchase high-end custom bikes for their employees, have confirmed a decline in sales. The declining sales are likely to be an indicator that startups are being more careful in spending money as investors got tighter in demanding profitability.
Merkel government has taken a bold step supporting the fleeing refugees. Recently, the German Chancellor has requested the other European countries to reopen their borders to ease the refugee pressure on Greece. Greece has requested for emergency financial assistance from other European countries.
Year 2015 was dubbed as year of fintech. As financial technology startup companies flourish and gain huge fund. Global regulators are closely monitoring the fintech startups and will propose rules to regulate them.
Telstra is backing up external venture capital funds to seek investments in Asia. The company is focusing more on technology investment in Asia as it experiences a drop in the viability of internet services and phone calls.
European Central Bank (ECB) is expected to launch monetary stimulus next month to help banking system in euro zone. Norwegian's biggest bank DNB ASA supported the effort as stated by its chief of asset management.
