In the face of declining home prices, as evident from the last quarter, the chairman of Hang Lung Group, Hong Kong's leading developer, expressed that the city property market is now more robust than it has ever been in the last 25 years.
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China's search engine Baidu is to be punished for pornography and commercialization
The company is accused of commercialization in the form of selling its forum's management and altering search results to show paying-websites. Last year, Baidu also faced punishment over pornography and violations of publishing regulations.
Ivory Trade: Hong Kong will work towards banning the sales
Hong Kong has been one of the main traders of elephant ivory. The government is about to change that, a move praised by activists and environmentalists.
Obama Administration to Invest $4 bln on Self-Driving Cars
Self-driving cars could eliminate fatal crashes that involve some type of human error. Autonomous technology could help reduce greengas emissions and transform mobility. Though driveless technology has grown increasingly popular, autonomous vehicle are not perfect yet
Nevada Governor to Face Impact Over Release of New Fee Solar Homes
Nevada governor Brian Sandoval get pressured after a group of 18 venture capital investors reverse new fees on solar homes that state utility regulator made effective on Jan 1. The regulation will give direct impact to development of solar energy and threaten future investment, the investor, and also the job cuts in the state.
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Intense fog in Delhi, India, caused great disruptions in train schedules. Nearly 60 trains were cancelled while around 10 were delayed due to poor visibility. The air pollution problems in Delhi is quite acute and the government should should work towards a resolution.
China will release its economic growth data on Tuesday, and most financial institutions are expecting the slowest expansion rate since 1990.
Mayor Bill de Blasio’s administration along with the horse carriage industry of New York came to an agreement to shrink horse numbers in the city from 220 horses to only 95 horses by 2018.
Fluor Corp.’s NuScale unit will build small modular nuclear plants in the UK, which ambitions to have these facilities by 2025. The firm plans to submit a 50-megawatt reactor design to the U.S. nuclear authorities by the end of 2016.
Chairman of China Securities Regulatory Commission (CSRC) was reported to offer his resignation. Xiao Gang handed his resignation last week following a failure in executing circuit breaker system in China stock markets.
Both Wells Fargo and Citigroup have been badly hit with the historic low oil price. The Walls Street banks have heavy investment in energy portfolio and the industry is passing through a nightmare since 2008. Both the banks have been forced to keep provision against the default power investments. But real estate portfolio has helped Stagecoach to leave behind the umbrella with its greater contributions predicted earlier.
South African retail bank said the country's house price will decline in this year. Fitch Ratings also remarked South African residential property and mortgage markets outlook to weaken further facing microeconomic challenge.
Microsoft has started to display HoloLens, its first AR product at its flagship stores in New York. Unlike similar products developed by other competitors, the WiFi device has a very poor battery life. The tech giant is working to transform the device devoid of such shortcomings and expects to make it available in the first quarter of the current year.
The supermarket giant, Woolworths has finally announced its decision to wrap up its home improvement project, Masters. After incurring heavy losses for almost four years, chairman Gordon Cairns has decided on selling or shutting down the operations. For this, the company his approached its joint venture partner, Lowe's, to buy out its 33.3% stake in Masters., but it may take several months to sort out the exit options.
