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.
Industry
Bank of Japan reportedly anticipates to reduce growth outlook
The Bank of Japan is reportedly anticipated to reduce its price and economic outlooks for the next fiscal years at a quarterly appraisal that is scheduled in April. The bank is trimming its growth outlook citing the failure of its previous stimulus pack.
Snapchat Projects For At Least Three Fold Revenue In 2016 Compared To Previous Year
Snapchat business is new, still evolving and advertiser interest is also experimental. But the app service provider has recorded revenue of $100 million during October last year. The company has set goal for up to $350 million revenue during the current year.
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.
Latest News
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 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.
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.
