China's tech startup may find 2016 as a tough year as venture capital will face a slowdown this year. Analyst predicted venture capital in China will decline this year, and government try hard to boost the development.
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Anglo Kumba Unit cuts off 3,900 jobs: iron ore demand drops
South African largest iron ore producer Kumba cuts as many as 3900 miners after prices plunged. Kumba decided to restructure the Sishen mines to become a low cost pit configuration and as a result, about 2,633 employees of Kumba and 1,300 contractors will be affected.
Philippine Q4 GDP rise by 6.3%
Philippine's fourth quarter gross domestic product increased by 6.3% driven mainly by higher private consumption, government expenditure as well as an increase in economic activity.
Iowa Fast Foods Workers’ Strike On The Day of Republican Debate Possibly To Embarrass President Hopefuls
The Republican Debate is going to be held in Iowa State on Thursday. The fast food workers under the banner of ‘$15 per hour minimum wage movement’ have called strike on the very day apparently due to gain media attraction. The strike has been called demanding immediate implementation of the said minimum wage rate across the country and union rights. However, the demands have already been supported by many Democratic candidates and furnished in their election manifesto.
Pound gains as UK economy grows in Q4
The British Pound strengthened against major global currencies after a report on UK's GDP growth. The report said that UK's economy speeded up during the fourth quarter of 2015. The rise in consumer demand helped the economy expansion. The British Pound recovered from the two-week low of 1.4338 against the US dollar to at $1.4314.
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A number of Air Force drones crashed in major accidents, even involving the Reaper, the Air Force newest and most advanced drone. Pentagon is keeping quiet on the cause behind the drone crashes.
Researchers at the University of California, Los Angeles developed a non-invasive electric patch to treat the symptoms of Post-Traumatic Stress Disorder (PTSD). The electric patch uses trigeminal nerve stimulation (TNS) technique to stimulate the nucleus tractus solitaries to produce pain killer compounds in the brain.
The app has been widely used in Spain and just launched in Paris and London. The services focus on blue collar workers and small business who often need a more simple and time-saving recruitment process. The app works similarly to dating app Tinder, where one party can swipe to decide whether the profile on screen fit what they are looking for.
Air France and KLM are planning to reinstate direct flights to Iran, now that the international sanctions regarding the country's nuclear ambitions are lifted. Iran also planned to request direct flight to the U.S, for the first time since the two countries broke their diplomatic relationship 36 years ago. Air France and KLM are expected to start flying to Iran within the next three months.
South Korea is famous for its skin care and cosmetic products that use unusual traditional ingredients, including snail slime. This ingredient is said to be very helpful in the skin collagen formation as well as to be used as moisturizer. More and more Korean beauty products enter the U.S. as the demand is also increasing.
Childhood obesity has increased drastically worldwide and WHO seeks political involvement in handling the issue. About 48% of obese and overweight children aged 5 and below reportedly belong to Asia and Africa.
Argentinean farmers are reportedly facing the worst kind of locust plague ever in the last 60 years. The plague if not contained could lead to severe crop infestation, resulting in starvation and famine.
The summit will provide a platform for foreign investors, African companies, and regulators to meet, discuss relevant issues, and form relationships. East Africa has a strong potential to develop Islamic Finance because of the high demand for its services and products.
Wendy's, the famous fast-food chain is the latest victim of credit card data breach. The company's banking sources detected unusual patterns on customer credit cards right after they were used at a Wendy's outlet, and informed the company right-away. It immediately hired a cybersecurity firm to investigate the fraudulent activities that seem to have been tracked to Midwest and, lately, the East Coast. The investigation is currently ongoing and Wendy's did not provide any clear information on the findings.
