A black market for dollars has absorbed liquidity from the Egyptian banking system over stressing country’s foreign reserves. Egyptian pound has been weekend ignoring several steps adopted by CBE. Finally, it has started mulling to enact tougher regulations on regulating the foreign exchange market.
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OPIC Sanctions $421 Million Debt Financing To India’s Solar And Internet Projects
OPIC, a US private development finance institution has extended support to India to build a low carbon economy and expand the internet infrastructure. It has sanctioned $421 million for India’s solar and development projects. The OPIC finance will exert its impact upon lives across the developing world while transforming focus from Southeast Asia to India.
Apple Introduces iPhone 5S: The New iPhone SE
Apple has unveiled the new iPhone SE- iPhone 5S on Monday at its Cupertino campus. The new product with 16GB storage will cost $399 and with 64 GB for $499. The slimmer product has been developed following stronger opposition from the Apple customers against upgrading the 4.7 inches and 5.5 inches smart phones.
ICRA foresees 7.7% growth for India in 2016-17
Rating agency ICRA forecasts India's gross domestic product (GDP) growth rate at 7.7 percent for next financial year 2016-17. The rating agency cites reasons for GDP growth rate to the implementation of 7th Pay Commission, OROP recommendations and domestic consumption.
Chinese Central Bank Governor Warns Over Rising Debt Levels
The Chinese central bank governor has warned over rising debt levels. To tackle the abnormal situation, the central bank feels necessity for promulgation of regulation guarding excessive leverage in foreign currencies. Meanwhile, the Chinese government vows to respond according to the call of time.
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London Stock Exchange has been considering for holding a consensus poll on its proposed controversial £21 billion merger deal announced on Wednesday. Deutsche Boerse CEO has warned of possible American investment if the proposed deal fails to take place. However, the information of polling has fueled debates while analysts consider those as irrelevant.
Bethany Mota, the YouTube and Instagram star may be the last hope to help Aeropostale. The retailer can bring millions of Mota's follower in Instagram and YouTube to the store.
German discount retailer Aldi will hire 700 apprentices this year, twice of its recruitment in in 2015. Aldi has set a target of 1,000 stores in the UK by 2022.
Financial analysts David Iben-led Kopernik Fund is passing through a totally reverse situation as its performance is soaring from bottom to the top with rising valuations. The $682-million Kopenik Global All-C fund recorded a 15 percent growth in 2016 so far ahead of 99 percent of its peers.
India is seeking World Trade Organization's (WTO) intervention over increasing visa fees by the US. The visa fee for H-1B has been doubled to $4,000 and it's $4,500 for L-1 visa, as fixed by the US government.
Chinese consumers are spending more on spa visits, travel and entertainment as income levels are on upward movement. The consumer spending is expected rise 10 percent annually for the next decade.
China and U.S. has been competing for a place in the economy and politics of Cuba. China has been doing business with Cuba for several years and the U.S. is just making a start. The edge that Washington sees is the proximity as being Cuba's neighbor.
The US automobile industry will have the automatic emergency braking system in place by 2022. About 20 automobile manufacturers representing over 99 percent of US automobile industry have agreed to implement automatic emergency braking system in their vehicles.
Recently unveiled new Brokaw Act is a Congressional effort to regulate activist funds. The new act aims at regulating activist funds. Democratic Presidential candidate Bernie Sanders and Massachusetts senator Elizabeth Warren have co-sponsored the Brokaw Act.
