South Africa's unemployment rate drops to 24.5% in the fourth quarter due to increased employment in the finance industry which offsets job losses in agriculture and construction sector. But with the major sectors laying off jobs, and the cost cutting of the government will sure make the unemployment rate will rise again.
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Microsoft Acquires Xarmin, Changed Leadership Focuses on Cross Platform Mobile Approach
Microsoft has announced on Wednesday acquiring Xarmin, a cross-platform software programming tools project. Though details on the deal haven’t been disclosed from either party, the deal has been rumored to be made for $400 million to $500 million. The acquisition is expected to boost up Microsoft’s Universal Windows Platform (UWP) technology ideals.
Singapore's GDP increases 1.8% in Q4, 2015 growth at 2%
Singapore's GDP has increased 1.8 % in the fourth quater in 2015. For the full year of 2015, it has increased 2%.
Zoopla sets new record as 58mln homebuyers visits in January 2016
British property website Zoopla has set a new record in attracting more number of visitors to its webpage. About 58 million visits to Zoopla website and app by homebuyers was recorded in January 2016. Zoopla has announced better than forecast results for 2015.
UK's Finance Minister pushes G20 against Brexit
UK's Finance Minister George Osborne may take leverage of Group of 20 to support Britain to stay with the European Union (EU). G20 meeting is being held on 26-27 February in Shanghai. Brexit may be a major outcome at the G20 finance ministers meeting.
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New South Wales Minister of Trade Stuart Ayres concerns on more needs of venture capital to raise start up business. He also said that venture capital is important, giving example on how US succeeded in using venture capital.
OJK Issued a new regulation with regards to Venture Capital Companies. The new provision changes the licensing and organization of venture capital companies, and includes sharia law and sharia-based legal entities.
HP Inc. has disclosed its earnings report on Wednesday for the first quarter ended on January 31. The Californian PC manufacturer has posted 16% decrease in earnings, in which strong Dollar is believed to contribute a huge. Keeping the currency value in place, earnings have been slashed by only 5%.
Rimac is going to display its first production model of electric vehicle, naming Concept_One. Workers in Rimac have preferred to spend more on development and design rather than on branding. However, the Concept_One will be valued like an exclusive sports car, placed above regular super cars.
State regulator rejected a $4.85 billion dollar acquisition of utility power company Cleco to Macquarie Group on Wednesday. The regulator said that the acquisition did not serve the best interest of the customers.
Oklahoma-based Chesapeake Energy has posted losses over $14 billion for 2015 and a net loss of $2.23 billion or $3.36 a share for the fourth quarter. The major reason for deep loss was writing down value of oil and gas fields in the wake of prolonged lower oil prices. However, the loss was better than the market forecast.
US dollar against Yen is rising as renewed buying support is propelling Japan's Nikkei index upwards. The priority shift among some investors from traditional safety net of Japanese currency to equities was the major reason on Nikkei's rise. The market players are eagerly waiting for the outcome of G-20 meeting this weekend in Shanghai.
President Jacob Zuma is at the center of criticism over lack of infrastructure facilities to attract foreign capital and global companies. All quarters of the society are calling for government's commitment to restore business confidence on South Africa.
Visikol Inc is a biotech company with focused on tissue visualization. On Tuesday, the company has secured a commitment from Foundation Venture Capital Group
