The new budget for South Africa may witness a major focus on government spending, sluggish global economy and inflation. The debt component is also increasing to about 50 percent of GDP. Global rating agencies have downgraded South Africa's sovereign credit rating.
Industry
UberMOTO Now Services Bangkok, Rivals GrabTaxi's GrabBike
UberMOTO is now made available in Bangkok competing GrabTaxi's GrabBike. Due to the staggering loss it incurred in China, Uber finds Bangkok as a fit location to pilot its motorcycle service program that will give two free rides to first-time riders until March 15 as its celebratory offer.
Battery Ventures XI Closes Pair of Funds Raising $950 Million
Battery Ventures X has been closed in February 2013 with a fund of $900 million. Now, the Battery Ventures XI is going to be closed at $950 million, surpassing the predecessor funds. A large number of venture firms are expecting to receive funds in 2016, which may be good or bad news for some institutional investors.
China's Economic Slowdown Is Deliberate and Healthy, According to the IMF
The newly-elected managing director of the IMF, Christine Lagarde, spoke at the Global Women’s Forum 2016 regarding the global economy, especially in the wake of the China economic slowdown. Despite the prolonged slowdown, the IMF foresee that China’s lower growth was deliberate and healthy.
A350 Increased Sales Boost Airbus Earnings to 1.6%, Equalled A380
Due to the increased sale of Airbus superjumbo A380, the company's earnings rose to 1.6% last year. The aircraft maker is hoping another boost in its earnings this year because of the overwhelming order bookings from different countries.
Latest News
Takata airbag issues face many discrimination aside from fines and lawsuit resulting to sales decline along with other automakers who recalled their vehicles. The automakers formed an independent coalition and hired Utah-based Orbital ATK to conduct the investigation who discovered three factors that cause airbag rupture.
Deutsche Borse confirmed that it is in talks with London Stock Exchange regarding a potential merger. The parties remain hopeful that a possible merger transaction will take place.
Elon Musk has shared a brainchild for travelling from one city to another with extraordinary speed through a hyperloop in 2013. The plan is now getting implemented at Quay Valley in California. If the project becomes commercially viable, people will get an opportunity to travel at 800 MPH subject to getting approval from the government authorities.
Bank of England has many choices to boost Britain's economy. The bank may slack its financial policy on fears that the country may exit the European Union.
Electric Vehicle (EV) purchasers enjoy different sorts of benefits from the federal and state governments. Irked with the subsidies, the Koch Brothers have dedicated a fund for lobbying in pulling back the subsidies for EVs. Tesla Motors CEO, Elon Musk has however, protested the news ignoring the fact that his comparison may be treated as ‘Apple to Apple’ or ‘Apple to Orange’.
Williams Cos has decided to offload its Canadian operations for $1 billion. It is hoping to put it on the block in next week. In fact, it has already appointed two investment banks to oversee the sale process.
China has unveiled a series of new initiatives to push its economy growth rate. The government is keen on meeting the increasing demand in small and medium-sized homes. Another set of new rules for accelerating reforms at state-owned enterprises will be announced soon.
Reserve Bank of India (RBI) is seeking an approval from Union Finance Ministry for easing capital restrictions on Asset Reconstruction Companies (ARCs). RBI has recommended Union Finance Ministry to raise the cap on sponsor's holding in asset reconstruction companies.
Etsy's shares jumped nearly 10% after the announcement that the online e-commerce site narrowed its net loss in the fourth quarter of 2015. The company expects GMS growth rate to be in the range of 13% to 17% for the three-year period from 2016 - 2018.
