WOW Air has wowed the masses with its expansion into United States' South West at an unbelievable cost of $199. This carrier will fly passengers from California to Europe at this no-frills cost. A #WowinCali contest on social media has added to the hype, where the contest winners can win free tickets on this new route.
Country
Canada soon to commemorate its women: Finance Minister supports petition to print faces of legendary women on banknotes
Canadian Finance Minister has clearly stated that he strongly supports the central bank's recommendation of featuring Canada's iconic woman or women on paper currency. The petition for recognition of women, led by by hhistorian Merna Foster since 2013, seems to be slowly moving towards a positive decision.
Inflation in Argentina at historic high 21%; government targets 5% by 2019
Argentina is struggling from soaring inflation, which is hovering at 21 percent. The inflation rate is expected to reach 25 percent in 2016. The government is targeting to bring it down to five percent by 2019. The soaring prices are forcing consumers to pay everything in installments.
China’s Iron Ore import to Increase as Price Hammered in December
Chinese iron ore imports rose to a record-high in December, suggesting that demand from the world’s largest consumer remains robust. The enormous increase coincided with signs of continued inventory restocking at chinese ports.
3 American banks earn $6 bln from overdraft fee, ATM
JPMorgan Chase, Bank of America (BoA) and Wells Fargo earned over $6 billion from ATM service and overdraft fees. For the first time, US government in 2015 allowed banks to disclose details from ATM and overdraft fee revenues. The US banking consumers pay in the range of $4 to $5 to withdraw money from an out-of-network ATM.
Latest News
Japan’s Mitsubishi UFJ Financial Group is said to have agreed to buy a 20 percent stock in Philippines' lender Security Bank Corp for $773 million (36.9 billion pesos), as an effort to strengthen its growth in Southeast Asia.
Technology startups in Africa may get $10 million funding in early 2016 as Silvertree Capital sees the rosy picture. Silvertree Internet Holdings is keen on scaling technology and commerce companies and has already invested $5 million in business building operations and acquisitions. South Africa, Nigeria and Kenya are favored the most among African countries.
The Kenyan government is hoping to control inflation rate with the support from lower oil prices. Lower oil prices are supporting the Kenya's economy as the growth rate is expected to be six percent in 2016 from 4.5 percent in 2015. Inflation rate breached the government's target band of 2.5 percent to 7.5 percent as it reached to eight percent.
American Energy Partners and Argentina state-run energy company YPF have signed a partnership deal on developing the shale resources in the South American country. Argentina government is providing subsidies to attract investments in the energy sector and to enhance business climate in the country.
Amazon is planning to enter into ocean freight shipping industry as the company has been awarded with a clearance from the Federal Maritime Commission. The license will entitle Amazon to act as Ocean Transportation Intermediary.
Italian Medicine Agency has formulated an advanced strategies in drug spending. The agency has developed an innovative deal with pharmaceutical companies to institute a refund for ineffective medicinal treatment.
Hong Kong dollar dropped to four-year low against US dollar and continue to dive. Its continuous plunge lead to the biggest weekly loss for more than a decade.
As a celebration for surprising Golden Globe win for "Mozart in the Jungle," Amazon prepares a special offer. Beside streaming the series for free this weekend, the company is also discounting subscription for Amazon Prime.
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The Fed may hold its next interest rate hike, following a current plunge in oil market that affectsthe stock market. This will give market a breather.
