Economists and analysts have repeatedly been suggesting for devaluation of local currency in a bid to ease pressure on foreign currency reserves. But the Egyptian central bank has refrained from doing so considering surge in inflation. The inflation has been recorded as the lowest in February during the last six months and the bank has devalued the currency on Monday.

Commercial banks in northern Europe criticized ECB for its four-year cheap loan policy and stimulus program. The policy was aimed to stimulate growth for banks that struggle in southern part of Europe.

With an objective of not giving any such scope for price escalation as Martin Shkreli did for Daraprim generic drug, US Food and Drug Administration (US FDA) has turned very cautious on approvals to generic drugs. US FDA is now reviewing new applications for generic drugs, while ensuring no such lapses of price escalation.

The US dollar recorded a multi-year bull run and has still enough steam to gain 10 percent further this year. All eyes are on the two-day policy meeting of US Federal Reserve beginning from Tuesday as it will set the tone for US currency.

The turbulent situation Japan's banking sector is likely to impact global markets. A leading hedge fund manager says that collapse in the Japan's banking industry blindsides the market, while shrugging off any possibility of banking crisis in the world's third largest economy.

New York-based Avon Products Inc is shifting its headquarters to the UK. It's also in the process of reducing headcount by about 2,500 and investing in technology and innovation to enhance sales volume.

Sports apparel Under Armour have surpassed Nike in athlete's endorsement. Many top athletes from NBA, NFL, tennis pro, professional golfers and others are now under contract with Under Armour.

Through a surprise move, Bank of Japan has adopted negative interest rate aiming to force the banks in investment. Meanwhile, the negative economic outlook has compelled the commercial banks to squeeze their investment portfolios while diminishing the BOJ move. Analysts have forecast for unchanged monetary policy in Tuesday’s meeting while predicting for a major change in April.

George Osborne has over-shoot the borrowing forecast due to weak economic outlook and poor tax receipts. In order to achieve his self imposed goal, he has been left with only two options for his 2016 budget- cut public expenses or increase taxes. However, the UK chancellor has hinted opting for reducing public expenses while addressing the BBC’s Marr Show.

South Korean venture capital firms are eyeing overseas biotech industry to accelerate investment goals. At the sametime, tech startups in Korea also began to flourish.