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.
Industry
Malaysian palm inventories fall to an 11-month low as weather hurts production
Malaysian palm inventories dropped to an 11-month low during February as poor weather spoils crop harvest. Palm production fell 3.5% to 1.09 million tons, the lowest since the period 2011 January.
Salesforce CEO Marc Benioff sees major shift in business software
Salesforce's Chief Executive Officer (CEO) Marc Benioff is witnessing a major shift in global business software segment. He said the enterprise software space is moving towards more smarter and more predictive software.
China aims 7% economic growth in 2016
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.
Old Mutual Reportedly Planning to Split Into Several Units, The Company Stated It's Considering All Options
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.
Latest News
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.
The first case of ransomware malware in Apple’s OS X was reported last week, via an infected BitTorrent client app, Transmission. Both Transmission and Apple has responded to that threat and prevent further infections.
Islamic Finance is catching up among non-Islamic markets also. Economists and finance experts say that Islamic Finance is the need of the hour for the global economy in the wake of sluggish markets and looming uncertainty. Islamic finance assets globally are expected to be $1.8 trillion by 2020.
GasBuddy has been introduced today in Australia where it runs in the US since 2004. GasBuddy users just need to submit their seen petrol prices at gas station and they will have the chance to win $100 voucher worth of free gas in the daily draw. The app is free and is accessible through Android and iOS smartphones.
Egyptian-Chinese industrial zone in Ain Sokhna may attract $5 billion investments. About 100 companies are expected to set up their operations in the zone paving the way for creation of employment opportunities for about 30,000 people.
