China is targeting seven percent gross domestic product (GDP) growth rate for 2016. The Chinese government is keen on real growth prospects over restructuring exercise this year, while avoiding inflating debt or asset bubbles.
Industry
Gree Acquires Yinlong, Expands Home Appliance Business To Electric Car Manufacturing
Gree, the largest Chinese air conditioner maker has been witnessing sluggish growth in its home appliance business. The home appliance manufacturer has announced on Monday acquiring electric vehicle manufacturing company Yinlong New Energy Co. Through this acquisition, another giant steps into the emerging electric car market.
Visium Asset Management facing US regulatory probe
New York-based hedge fund Visium Asset Management is facing probe by the US Securities Exchange Commission (SEC) and Justice Department over its trading and valuation issues. Visium's exposure to healthcare sector is under scanner.
Royal Bank of Canada Eyes Bolder Appearance In The US Investment Banking Market
All the major European banks are either shrinking their businesses or just pulling out from the US market. Ignoring the market odd, RBC has strengthened its operations in the less competitive market and capable of getting enlisted among the ten largest US banks. Getting inspired, RBC plans for further strengthening its US investment arm.
Australia adjusting from mining-led economy
Australian economy was picking up pace during the fourth quarter. The commodity-based economy witnessed an annualized growth rate of three percent, fastest in two years, as against the forecast of 2.5 percent.
Latest News
Giant South Africa-based international banking group Old Mutual has stated that they are considering all options as a result of a strategic review. Many believe that the group is planning to split itself into several business units.
PSE has been seeking comments and suggestions on its proposed law for transactions of DDS. The procured comments and suggestions will be evaluated while drafting the rule, aiming to reflect market demands. Comments and suggestions may be sent up to March 22.
Rob Mundy, a former stock research expert, has launched Research Tree, an online investment research platform designed for private investors. With this new achievement, Rob Mundy aims to create a better source of information for online investors.
Thomas Piquemal, chief financial officer of the French utility EDF has been rumored to resign over disagreement with company CEO. Due to decade low wholesale prices of electricity, the business has been forced to borrow billions of Euros for payment of dividends. Under such financial hardships, Piquemal has suggested to wait at least three years in finalizing the project plan.
Nigerian investment flow in the previous three years has declined as a result of economic slowdown in the country. Investors lost their confidence in Nigerian economy citing global oil slump.
Israeli fintech hub initiative is receiving $2 million investments from Chinese venture capital firm Pando Group. The partnership is expected to build the bridge between Israel companies and the Asian markets.
Ending a sanction on Iranian oil export, The Monte Toledo, an oil tanker appears as the first to deliver crude oil in Europe since mid-2012. Iran’s oil export during February falls short from its earlier announcement for adding 500,000 barrels per day to the global oil market. However, industry insiders presume for Iranian oil exports in larger volume to Europe and Asia during the current month.
HTC announced to bundle its virtual reality (VR) headset with painting application from Google on Monday last week. HTC have also open pre-order and will start shipment in early April.
A new Disney animation film Zootopia sets its debut in American and Canadian theater this weekend. Its debut exceeded Frozen and sets a new record, booking $73.7 million.
