Oil prices rebounded on news that there may be production cut by OPEC. US Brent futures recouped losses by 6.8 percent and US crude pared 9.3 percent losses during the week. In overall, oil prices rebounded by over 25 percent after hitting 12-month low in January. Oil price hit $27.10 on 20 January 2016.
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Diamond market rebound propels Alrosa's Q4 sales 45% up
Alrosa PJSC has recorded 45 percent growth in sales for the fourth quarter of 2015. The rebound in the global diamonds market helped Alrosa post encouraging performance. The diamonds prices in the global market fell over 18 percent in 2015.
India elbowed out Thailand to take the position of world’s largest rice exporter
India is now the world's largest exporter of rice, with 10.23 million tons of rice exported in 2015. The country outranked the former leader, Thailand whose export numbers have fallen to 9.8 million tons this year, which also recorded the lowest rice prices in the last ten years. It seems the falling prices are also tied to the global oil crisis that has hit the rice importers, thereby affecting their purchasing power.
Mexico Trade 1990 Levi’s 501 Jeans in Exchange For Heroin
Levi's 5012 jeans were very famous and highly demanded globally in 1990s. They were so popular and expensive that they could be traded for heroin in Mexico at that time. These apparels were also a sign of wealth and success.
Ford Q4 earnings beat analyst forecast
Ford Motor said its fourth-quarter earnings beat Wall Street analysts' expectations and reiterated 2016 pre-tax profit forecast to be identical to or greater than the previous year.
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India's Transport Minister Nitin Gadkari said that the country needs $10billion funds to give a push to the economy growth. The Indian government is targeting $14.7 billion investments for infrastructure projects in next three years. The Finance Ministry has also increased budget allocations by 50 percent for infrastructure projects.
Russia says there's proposal from OPEC on production cuts and it's open to have a word on oil production cuts. Russia is a non-OPEC oil producing nation. Russian oil minister said that the proposal envisages five percent cut in the oil production to support falling oil price. However, there's no clarity over the proposal whether it was from OPEC or non-OPEC members.
Zika has appeared as a nightmare to many Latin American countries. The number of Zika infected has reached 4 million landmarks since reporting of the first case just eight months earlier. Absence of proper vaccine has made the situation much more terrible. Recently, scientists have escalated the fears revealing climate change may also contribute to the spread of Zika and other mosquito borne diseases.
Apple has been used to acquire smaller technology enterprises occasionally and is reluctant to discussing its policy or plan. This has been referred as the Apple’s usual nod for purchasing any company by the analysts. Thus the analysts confirm Apple’s Flyby Media acquisition and predict developing of iPhone headsets capable of tracking subject’s motion.
Facebook users will soon be prohibited from coordinating private firearm sales using its platform and also through Instagram. The step evokes strict policies on regulating promotional posts on unlicensed gun businesses . The new rule is only applicable for person-to-person firearm sales, licensed gun dealers will be permitted to use the social network.
Security researchers have been paid $200,000 by Google to investigate Android's bugs. Google has started the security program for all of its products since last 2010. The company has spent approximately $6 million since then.
Facebook's growth is just unstoppable. The number of the active users keeps increasing, as well as the revenue it gains. Most of the revenue is said to come from the Facebook Lite, which is usually used by users with less sophisticated mobiles. Besides that, video ad also gives many contributions as well.
The social network giant posted a strong profit. On Wednesday, Facebook reported a $1.56 billion quarterly net income in fourth quarter of 2015.
South African Reserve Bank (SARB) has announced increasing key interest rates by fifty basis points to 6.75% on Thursday. It has also slashed down growth forecast to 0.9%. SARB has increased the interest rates for the second time with an interval of weeks. However, the rate hike will influence the Banks’ expenses and banking industry may witness job cutting as cost minimization effort.
