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.
Industry
Hedge funds betting on risks in US bluechips debt
The bonds are gaining momentum amid sluggish financial markets and uncertainty about the global economy. Majority of hedge funds are betting on the $4.5 trillion market as the safest for US corporate debt. Some hedge funds forecast the concerns may go beyond energy and junk bonds.
Suspected Pak hackers target Indian revenues website
The suspected Pakistani hackers have allegedly taken down the official website of Indian Revenue Service (IRS). The website of Income-Tax (I-T) Department, a part of IRS, was down on early Saturday (6 February) and the site is still offline.
Volkswagen's trucks division mulls over IPO, expansion
Volkswagen's heavy truck division is exploring several options for enhancing business growth. The trucks division is studying initial public offer (IPO) plan and acquisition route to achieve higher growth rate. Trucks division is keen on expanding in the US and Chinese markets.
Amplats profits dropped by an alarming 86%
Amplats revealed a shocking 86% loss in its 2015 earnings report. The world's largest metal producer is facing a grim situation of reduced capital expenditure, mine closure, employment cutbacks, and shelving of projects.
Latest News
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 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.
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.
The Russian Central Bank revoked license for banking for two banks, the Interkommerzbank and Alta Bank. The license revoke is part of the tougher regulation set by the Russian government to help strengthen the country's economy.
BaFin has imposed an embargo on Sunday shunning all transactions of Maple Bank. The embargo comes followed by investigations by the regulator on the allegation of tax dodging. However, National Bank of Canada, the parent organization of Maple Financial Group pledges for repatriation of the dividends taken from Maple, if proves guilty.
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.
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.
