China is planning to put more budget in infrastructure. The country's planning agency expects to boost spending and increase investment to maintain 7% annual economic growth as last year.
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Ratan Tata Invests In A New Tech Start-Up Business, Snapbizz
Ratan Tata has invested in a new tech start-up business, Snapbizz. This is Tata's eighth e-commerce business this year after DogSpot.in, Tracxn, CashKaro, FirstCry, Teabox, Moglix and Invictus Technology.
Anglo American loss widens on write-downs
Anglo American Plc suffered a pre-tax loss of $5.5 billion (£3.8bln) for 2015 year. The 2015 loss was more than twice the loss incurred in 2014. As part of its future strategy, Anglo American is planning to shift its focus to copper, platinum and diamonds.
Line Shutters MixRadio, Opts For Rendering Regional Services Through Line Music App
Line Corporation, owning entity of MixRadio has studied that 65% of its app users are from Far Eastern Countries. To uphold the company priorities for going regional, Line has decided to shutter MixRadio. Meanwhile, its Music streaming app will be restricted for the users of Japan and Thailand only.
Saudi Arabia, Russia Agreed to Halt Oil Production After Qatar Talk, Boosting Oil Prices
Saudi Arabia and Russia, the world's largest oil producers, have come to an agreement to reduce oil production into the January level. This is the first time for the two countries working together in efforts to fix the oil industry, which has been dropping for years.
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Gulfstream has introduced larger cabin containing personal jets, the G650 family which is capable of flying with 92% speed of sound. The aircraft, valuing $65 million is witnessing a huge demand. The aircraft manufacture is going to offer a probable delivery schedule of 2018 in the upcoming Singapore Autoshow.
Freeport-McMoRan has signed a definitive deal with Sumitomo in order to sell its 13% interest in Morenci for $1 billion cash. The company intends to utilize the transaction proceeds to repay its bank loans.
Shareholders of the Italian tyre maker Pirelli has nodded in favor of the proposed merger with Marco Polo Industrial Holding. Marco Polo’s parent concern ChemChina has acquired Pirelli for $8.25 billion last year. The merging is scheduled to be completed by mid 2016.
One of the world's biggest mining company Anglo American Plc announced to sell its share in Kumba Iron Ore on Tuesday. The South African multinational company has suffered loss in its full-year performance.
There are similarities between the India's startup world with China's startup. It can be seen from the kinds of startups that are developing right now, and also the fund size raised from the investors.
Hong Kong Disneyland reported its first loss since 2012. Fewer tourists had come to visit the resort and theme park, with the biggest decline from Chinese tourists. China’s economic slowdown, along with political instability and the emergence of Shanghai Disneyland is believed to have affected the Chinese tourists.
Along with reporting its fourth quarter performance, France telecommunication company Orange SA also report the acquisition plan. The company needs more weeks to have approval from antitrust authorities.
The Japanese telecom giant, SoftBank, has announced buyback of shares amounting to $4.4 billion, its biggest repurchase ever. This move is a desperate attempt by the company to regain its footing after its shares plunged to an all-time low following the company's overseas investment in US mobile operator, Sprint.
BoK has decided to keep hold benchmark interest rates in place on Tuesday. To tackle the ongoing sluggish economic growth, South Korean government has unveiled a stimulus package on February 3. BoK is predicted to analyze the impact of the stimulus package and hence opts for keeping rates unchanged.
