Hyperloop Technologies Inc. has been implementing an innovative idea of Tesla CEO Elon Musk through developing a new concept of transportation platform. The Los Angeles tech giant considers for spending $121 million to develop the full track at Apex Industrial Park. To allure the investment, Nevada state officials have waved $9.2 million sales tax applicable on the capital expenditure.
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Nexus Venture Partners Recognizes KG Subramanian’s Contribution While Promoting As MD
KG Subramanian has been promoted as the Managing Director for the Finance and Operations unit of Nexus Venture Partners. The chartered accountant has been serving NVP for the last fourteen years. The promotion appears to be recognition of his contribution which has been echoed from Naren Gupta, co-founder and managing director of Nexus Venture Partners.
Asia-based apps boost online shopping sector
Online shopping is made easy with the advent of smartphones, creating a new era for online sellers. Online marketing sector has gained from many e-commerce apps over the recent period.
Philippine Business Group Ayala Intends To Manufacture Local Car Brand With Spare Parts
Ayala Corporation, the largest business group by assets in the Philippines has already acquired certain stake in the automotive industry through IMI. Now, the conglomerate eyes to expand its dominance over the industry in line with a comprehensive program naming CARS. With support from the program, Ayala will go for manufacturing local car brand along with spare parts production facility.
Elon Musk Learned Hard Lesson in Energy Storage
Tesla launched Powerwall last year as a residential backup power supply. However, as the market is not enthusiastic, the company quietly remove one of its product.
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French tech startups managed to secure almost 1 billion euros in funding last year, establishing the country’s place in the European tech landscape. Most investments were still made by domestic investors, although there are prominent foreign investors involved in big fundings.
The growing Chinese demand is boosting Australia’s food, health, tourism and education sectors. The economy transitions in dragon country from infrastructure investment to consumption-led growth is showing up all over Australia.
US labour market is gaining grounds helped by robust consumer spending, despite poor profits among corporate giants. The country added more than 200,000 jobs per month, with an average recruitment totalling to 213,000 new jobs a month in the past four years.
Last week, the Bank of Egypt has increased its benchmark rates following a devaluation of local currency by 10%. The moves are believed to be parts of measures taken by the government to address the shortage in foreign currency reserves. Now, the Egyptian government has announced on Sunday a new special program to secure foreign aid and investments.
Seven day lingering summit of the ‘India-China Business & Investment Forum’ has been kicked off on Sunday while highlighting the ‘Make In India’ campaign. More than 20 Indian firms have participated in the summit. Meanwhile, four CEOs from Chinese companies already invested in India, have urged the Chinese investors to avail of the Indian government offered investment opportunities.
Retired U.S. Army General David Petraeus intervened on Brexit issue. He compelled voters to choose to stay in European Union for the sake of security and war on terror.
Chinese production sector has been witnessed to go through the weakest growth due to reduction in demands and historic low iron ore and crude oil prices. Following the stimulus measures adopted by the Chinese premier, the industrial profits have been revamped to record the highest growth during January and February since July 2014.
Indian Rupee sovereign bonds are favorite among some global funds. India's high performing debt fund managers are predicting further gains from sovereign bonds as benchmark notes heading towards their best March returns in 13 years.
Japanese economy has been witnessed to go through sluggish growth rate. To boost up the economic growth, Prime Minister Shinzo Abe has been planning for announcing a stimulus package of new spending measures. Meanwhile, a Nikkei Inc./ TV Tokyo conducted poll shows that support for Abe’s economic reforms has been witnessed to rise by 8% to 55%.
