The Norwegian government is reeling under pressure owing to oil price drop. The lower oil price is eroding revenues for the government. The Norwegian government is counting on state's dividends from Statoil ASA.
Industry
China Startup: Venture Firm Qiming Received $648 Million in Venture Capital Fund from Princeton University and Duke University
One of China’s biggest venture capital firm, Qiming, secured its fifth US dollar venture capital fund in total of $648 million. The fund will help expand the firm’s investments in Chinese top startups in various sectors such as internet, consumer, technology, healthcare, as well as cleantech.
Eyeriss: MIT Introduced Chip Capable of Deep Learning Using AI Technology
An MIT research team has introduced a new computer chip, Eyeriss, that will allow IoT devices to go through deep learning process. Data collected by the devices, is currently uploaded to the internet for processing by power servers. Eyeriss chip processes the collected data locally using the neural technology and thus ensures data security and reduces power consumption.
AXA SA purchases 8% stock in Africa Internet Group
AXA SA has partnered with Africa Internet Group to become the sole supplier of insurance products in Africa. The transaction will promote AXA's business strategy and help the French insurer to serve the African society.
India Startup: Zomato Becomes India's First E-Commerce to Break Even
The company announced that it had broken even in India and six other foreign countries, making the Indian e-commerce the first to achieve that milestone. Zomato, valued at over $1 billion, is going to start another funding round before becoming profitable by mid-2016.
Latest News
As part of reducing costs, the Japanese government is seeking lower drug prices by moving towards more generics. The ageing population and rising debt are taking a toll on the Shinzo Abe's government. The Japanese government is aiming to reduce prices of branded drugs.
GitHub is experiencing a huge inner havoc as many executives flee from the company. Chris Wanstrath has been overhauling the firm's culture backed by its board.
Sony has kept its words through releasing Xperia Z5 and Z5 Compact smart phones in committed date. But the US oriented version of the Z5 genre hasn’t inherited the biometric authentication system. This lacking will affect the consumers using Android 6.0 and thus shave Sony’s profit margin to some extents.
Morgan Stanley intends to hire additional bankers in 2016 in order to contend with its rival Nomura. The company failed to present the exact number of staffs being hired.
All the tech giants are investing heavily in the research and development of virtual and augmented reality products. Google has been reportedly planning a successor to the cardboard VR viewer. The smart phone based headset incorporating improved sensors and lenses will be housed in a solid plastic casing instead of a cardboard.
Contrary to earlier bullish predictions for 2016, several Wall Street strategists have started lowering their forecasts on S&P 500 stocks. The Chinese economy slowdown, volatile oil prices and interest rates are the major reasons for drop in forecast. The gap between highest and lowest forecast has been widening.
Android users can experience the new system update since 2015. Some remarkable new features include security improvement, performance management, user interface, storage improvement, and support to new innovations including the Type-C USB.
Foreign Franchise: IKEA Lost Its Trademark in Indonesia After a Dispute With Local Furniture Company
The case was brought to Central Jakarta District Court in 2014, and the decision was ruled by the court last year. The plaintiff made the case by presenting the Indonesian trademark law which stated that a trademark could be deleted if the company had not used the name for commercial purposes in three years after registration or after the last use.
Messaging app Wiper has raised a total of $4.5 million seed funding from its investor Michael Choupak adding $2 million dollars. The service launced $4.99 monthly subscription fee to preview and watch thousands of original short and long, inexpensive indie films that can be compared to expensive Hollywood movies.
