The Bank of Japan is anticipated to reduce its interest rates into a negative territory further at or before the bank's meeting in July. The bank is anticipated to trim its interest rate to minus 0.2% due to low domestic spending and slump in the energy market.
Country
Saudi Arabia regains top oil exporter status to China
Surpassing Russia, the Kingdom of Saudi Arabia (KSA) has regained its lost status as top oil exporter to China in January 2016. However, China's oil imports eased during the month, while Russia suffered major drop in its exports. As a result, Saudi's market share rose to 15.9 percent highest since June 2015.
Fraudulent Oil Fund Sentenced Iranian Billionaire to Death, 2 Others
Iranian tycoon Babak Zanjani and 2 others have been convicted and sentenced to death since they are considered as "corruptor on earth" under Iran's Islamic Penal Code. They have embezzled $2.7 billion and have to pay it back.
Silicon Valley on India: Striking The Iron While It's Hot
There is a saying "Strike while the iron is hot". That is what Silicon Valley is doing - investing big in India where the economy grows faster.
Zimbabwe Government Robbed of Wealth, Takes Control of Diamond Mining Fields
The Zimbabwe government will now take control all of the mining fields in the country as the state is being robbed of its wealth. Billions of dollars have been stolen from the nation's treasure chest because of smuggling and swinding according to President Mugabe.
Latest News
The Institute for Supply Management (ISM) announced on Thursday that service sectors in U.S. is expanding modestly. However, the sectors fared better than manufacturing in February 2016.
Two of India's largest telecom operators Bharti Airtel and Idea Cellular have an increase revenue market share in 2015. However, Morgan Stanley predicted the companies will face substantial challenge in 2016.
Fidelity Investments lead a $175 million investment in Series F funding for Snapchat. However, it does not change Snapchat valuation at $16 billion.
Chinese billionaire Wang Jianlin-controlled AMC Entertainment Holdings Inc has agreed to buy Carmike Cinemas Inc for $1.1 billion deal. After the acquisition, AMC Entertainment will become as the largest move-theater operator in the US.
DuPont and Dow Chemical Co. have agreed for a $130 million merger reflecting ‘merger on equals’. Following the merger, Dow CEO, Andrew Liveris will enjoy the lion share of $52.8 million while Edward Breen, DuPont’s CEO, will get $27.2 million. However, this appears as a true “Golden Parachute’ only for Liveries since Breen has secured job in the proposed merged entity.
Hewlett Packard Enterprises (HPE) has beaten analysts' forecasts for the first quarter earnings. HPE has posted earnings per share (EPS) of 41 cents a share for first quarter as against the 40 cents per share of average forecast made by analysts. Hewlett Packard Enterprises is expected close Tsinghua deal by end of May as soon as it gets Chinese regulatory approval.
Citigroup is reportedly in negotiation to appoint Armando Diaz as the global leader of capital equities trading. These appointments signify the bank's effort to construct a robust stock offering business.
Maserati has unveiled the first SUV, in its century-old history, in the Geneva Motor Show, 2016. The new SUV’s overall shape has more than a few Porsche Cayenne-like proportions while possessing trademark Italian flavor. Wester, the Maserati CEO, has also confirmed that despite having access to the wider Fiat-Chrysler group, the new Levante is a 100% Maserati.
Russian energy company GazProm signed a loan agreement with Bank of China on Thursday. GazProm borrowed €2 billion ($2.17 billion) on a 5-year term
