Next week, Eskom will be paid the remaining balance from the bailout. Eskom CE Brian Molefe expressed frustration to learn that Finance Minister Pravin Gordhan announced that the funds will be withheld. Treasury informed that the fund will be transferred and is already being processed.
Country
Alibaba, Tencent Holdings to Fund Didi Kuaidi $1 Billion
Did Kuaidi, the largest ride-hailing service in China is about to raise $1 billion the same amount that Uber spent last year for its expansion. It is going to be a tough competition for both companies since they are being backed up by other large companies such as Alibaba and Tencent Holdings Inc.
Venezuela’s ‘Gold Dream’ May Get Fettered Over Conclusion of Other ICSID Proceedings
Venezuela has announced on Wednesday reaching a $5 billion venturing deal with Gold Reserves. The government is expecting to enrich its ever decaying foreign currency reserve with the fund under agreement. But analysts assume, the government may hardly use the fund since Gold Reserves and several other plaintiffs’ proceedings with ICSID are going to be concluded shortly.
22 Years After the Apartheid in South Africa: White Squatter Camp
White people were once ruling and oppressive class in South Africa, As government wipe out the apartheid, unskilled white people are ousted and have to live in slums. There are more than 400,000 white people live in poverty.
Fitch Also Degrades Economic Outlook of Azerbaijan After S&P And Moody’s
S&P and Moody’s have downgraded economic outlook of Azerbaijan during the previous month. On Friday, the other US Stock Exchange Commission recognized rating agency, Fitch Ratings, has also downgraded the outlook. Country’s government and central bank adopted measures have apparently gone in vain to tackle the economic turmoil.
Latest News
Gap Inc. has announced its fourth quarter earnings on Thursday. The clothing retailer has represented a comparative feature with its year ago performances. It has also predicted for weaker earnings during the current year.
Republic Airway has sought immunity under bankruptcy followed by pilot shortages and other industrial odds. American Airlines has filed for bankruptcy in 2011 and now, the US regional carrier follows the trait in seeking clemency. However, Republic CEO expects the move will take the carrier to the new heights.
PBOC governor Zhou Xiaochuan is confident to say that China's economy is healthy along with the assurance that yuan will not be devalued again and that the country has enough monetary tools to support the economy.
Anheuser-Busch InBev NV has reported a10 percent drop in profit for fourth quarter of 2015. The brewer is suffering from sluggish market in the US. As a result, revenues for fourth quarter fell to $3.23 billion from $3.33 billion.
Openreach provides broadband internet service to BT and other operators in the UK. Since BT remains as the controlling authority of Openreach, so dependence appears as a major hurdle in rendering equal customer services. Observing the anomalies, Ofcom, the UK telecom regulator has instructed BT ensure universal broadband for all.
Suresh Prabhu, railway minister of India, on Thursday, unveiled the rail budget for 2016-2017 in the Lok Sabha. The minister increased the quota for women and senior citizens in railway coaches.
The London City Airport has now new owners as a group of investors led by Canadian pension plan acquire the facility for £2 billion. Some expressed a concern over the airport’s plan to expand the service, also over the high price that could cause the new owners to increase airport charges.
Vision Capital has announced on Wednesday reaching an agreement for disposing of its consulting business arm to Maru Group. Lower growth rate and profit margin ration are believed to the reason to choose the consulting arm for selling. Through this deal, VC has removed the last hurdle to go for IPO.
Hedge funds are favoring eHi Car Services Ltd (NASDAQ:EHIC) stocks. Many hedge funds are reportedly increasing their collective stake in the China's car rental company.
