Turkish government officials acknowledged that the influx of Syrian refugees to the country has contributed in boosting the economy. Turkey’s economic growth has seen an unexpected growth in the third quarter, even as some economic aspects suffered and strained from the flow of migrants.
Industry
Venture Capital Investment in Space Startups Surged in 2015
Based on a report from defense and aerospace consulting firm there was a huge increase for investment in space travel during 2015. Space startup investment in last year were accounted two-third of the 15 years in total.
Fenox Venture Capital Firm pays backwages, defends Internship Program as source to recruit fresh talents
Fenox Venture Capital has been ordered by the Department of Labour to pay over $300,000 as back wages for workers, wrongfully named as interns. The company promised to avoid such practices in the future.
Asian Shares Reversed Its Gain After Oil Prices Retreat, Other Markets Also Under Pressure
Asian shares fell back from a seven-week high on Tuesday as oil prices fell more than 2 percent. The sudden drop happened after the Asia-Pacific indices rose to its highest level since the beginning of the year, after seeing the rise in oil prices before reversing back.
Mark Zuckerberg Supports Apple, Strongly Opposes Creating Backdoors For Law Enforcers
The US government has appeared in a row with Apple centering unlocking of encrypted data of an iPhone allegedly used by a terrorist. Apple opposes the demand citing creation of backdoors for the law enforcers, may lead to a potential abuse. Supporting Apple stand, Mark Zuckerberg has pledged playing due rolls in its fight while addressing in the Mobile World Congress on Monday.
Latest News
McDonald's partners with Chobani, a Greek yoghurt-maker company and tests how the yoghurt will come along being incorporated to some of its menu. The fast food chain is adapting to the change to make itself a 'modern and progressive company' as it adapts to the changing tastes of its customers.
The EFG International announced its intention to purchase the BSI Ltd in a deal worth about $1.34 billion. The deal will make EFG a leader in the private banking industry.
Ford announced that the company will devote more resources to develop semi-autonomous driving technologies, as they aim to invest triple the amount of investment in the technologies. Some of Ford's cars already have some semi-autonomous technology in them, as with the updated version of Ford Kuga unveiled along with the announcement.
It was agreed that Monster Beverages will take over on American Fruits and Flavors, its leading supplier of fruit concentrares, flavors and mixes. The beverage company paid $690 million for the acquisition. Since 1990's the two companies have been working together.
The latest quarterly survey of Fenwick & West LLP found most Silicon Valley companies that raised venture funding in the fourth quarter of 2015 softened.
Northern Mindanao is a region in the Philippines and has five provinces. The Department of Public Works and Highways (DPWH) completed more than 717 infrastructure projects early this year at an investment of PHP 18.7 billion.
Led by new President Mauricio Macri, economy recovery in Argentina is anticipated during 2016. Argentina registered $3 billion trade deficit for 2015. Exports too fell over 50 percent during 2015.
Flustered customers complain about the change in the Starbucks Rewards Program. Starting April, points or stars can be earned based on the purchase and not on the visits that customers make. The coffee restaurant said that the change came from the No. 1 request among the loyalty program members.
Businesses in the US are in a common practice to to classify workers as interns in order to pay them well below minimum wage or nothing at all. Detection of such practice from a venture fund provider appears to be the first of its kind since US Department of Labor accuses Fenox with the malpractice. The regulator has instructed Fenox to pay back-wages to 56 so-called interns.
