In the annual Boao Forum for Asia (BFA) last Thursday, Premier Li Keqiang deliver keynote speech. He pledged the government will refrain to intervene in economic and market.
Sectors
GE Sells U.S. Hotel Franchise Portfolio Along With Canadian Hospitality And Restaurant Industries Financier
GE will sell its U.S. hotel franchise for $1.4 billion and its other business that finances Canadian hospitality and restaurant industries, separately. The completion of the transaction is expected to close by the second quarter of this year.
India's EPFO to offer interest on inoperative accounts
Employees in India will earn interest on inoperative accounts from new financial year beginning from April 2016. Employees' Provident Fund Organization (EPFO) has taken a decision to offer benefit of accrual of interest on inoperative accounts.
Spotify Raises $1 Billion Through Financing Deal
Music streaming company Spotify raises $ 1 billion deal through financing in the form of convertible debt. TPG rounded the funds together with Dragoneer along with other institutional investors. The deal placed by Goldman Sachs is expected to close on April 2.
Boeing to Reduce Workforce by June As Part of Cost-Cutting and Reorganization
Boeing will reduce its workforce as part of the company’s cost-cutting and reorganization effort. Although it surpassed order forecast for last year, it was offset by a huge drop in new orders. Clients would not want to wait for several years before their orders get delivered.
Latest News
As China has increased its influence in Southeast Asia, U.S. stepped in. United States plan to match China in rebalancing Asia by increasing partnership with ASEAN.
Rosneft, the Russia-based oil firm, has promised to make investments of roughly EUR 13 billion annually through 2018, which is an increase of 30% for the year 2016.
Wall Street hits the record high in 2016. The market reacted positively after the Fed chairwoman's speech in the Economic Club Of New York on Tuesday.
Firms in United States are looking into Israeli cannabis research and development. Israel, the pioneer in high tech agriculture is now leading the medical marijuana R&D.
New Zealand home buyers have the new option for home loan. On Tuesday Crown Finance Limited launched its Freedom Home Loans.
Arun Jaitley, India's Finance Minister, has voiced for a possible interest rate cut ahead of Reserve Bank of India's (RBI) review meeting next week, while focusing on controlling fiscal deficit. The Centre has already slashed interest rate on small savings making more conducive weather for lending rate cut.
US-based Western Alliance Bank has decided to buy GE Capital assets from General Electric Co. The deal is expected to be completed by end of 2016. General Electric will focus on its core industrial operations.
Yahoo potential buyers only have until April 11 to submit their bid. Along with the proposed amount are details on how the purchase would be financed, conditions or approvals to be met and what important foundation to make by deciding to push through with a deal. Verizon and Time Inc. already shown interest to acquire Yahoo’s core business the past few months.
The £21-billion merger of London Stock Exchange (LSE) with Deutsche Börse is facing an increasing resistance from Germany. Politicians and senior industry leaders are concerned about losing the financial hub status of Frankfurt.
