It was confirmed on Monday that Israeli company Ravello was acquired by Oracle for $500 million. Ravello joins Oracle's cloud business with high hopes to take on giant tech companies like IBM, Google, Microsoft, and Amazon.
Sectors
It's 'too early' for HSBC to deepen cuts, says CEO
HSBC Holdings Plc is not thinking it's time to deepen cuts at its securities unit. The bank's investment unit is suffering from drop in trading revenues amid sluggish financial markets. HSBC Holdings is aiming to reduce costs by $5 billion by 2017.
Airbus Needs Double Time Production as Airline Demand Increases
Airbus just can't get enough of its overflowing orders. The aircraft maker needs to have a double time production to meet its deadline for delivery and to cater other orders from other countries. Spring Air, one of the clients, ordered 60 Airbus A320neos and wants more. It asked Airbus to make more aircraft as China needs them.
Investment in oil, gas projects shrinking
Investment inflows into oil and gas projects are dropping significantly. The investments in oil projects in 2016 is forecast to fall below £1 billion from the five-year annual average of £8 billion.
Copper prices climb as China's steel industry looks promising
The renewed signs of prospects in China's steel industry propelled the copper prices move up on Monday to the highest in two weeks. Investors also reacted positively to the China's securities regulator head's resignation. Copper prices rose in four of five weeks.
Latest News
Asian stocks rebounded on Monday ahead of G20 Finance Ministers meeting, which is scheduled on this weekend. Investors are positively looking to reassurances about global economy growth.
Samsung has revealed the price of Samsung Galaxy S7 and S7 Edge in Australia as A$1,149 and A$1,249 respectively. Both phones will be available on March 11 and offers pre-sale order on February 26.
On Saturday, London Mayor, Boris Johnson sent an email to Prime Minister David Cameron, announcing his support for United Kingdom to withdraw from European Union.
5G has become the highly anticipated high speed data transfer to support Internet of Things. On Sunday, Nokia CEO said that some part of the fifth generation network could be available sooner.
Latin America experienced a phenomenal growth in the last decade. However, according to World Bank, the economic growth has not reached some people.Meanwhile the region's economy is slowing down in the last three years.
AT&T team up with Intel to test drone technology and adds 4G LTE on drones connectivity. The companies will showcase their work in Barcelona, Spain at the Mobile World Congress trade show.
Indian businessman Ajay Piramal has entered into venture capital (VC) space by establishing a new VC funding entity 'Montane Ventures.' The new VC fund focuses on early-stage funding requirements. Piramal has infused $50 million into Montane Ventures will mobiles $150 million additionally from external resources.
Russia's leading oil producer, Rosneft has proposed investing another $500 million in Venezuela's state-owned Petroleos de Venezuela SA, to increase their stake from the original 16.7%. The proposition has come at a time when the country has declared an economic emergency after oil prices dropped to an alarming $24 a barrel.
A gamut of factors are affecting the South African economy as dwindling inflows of money, weaker currency, rising unemployment rate and severe drought conditions are at their worst in 25 years. South Africa's GDP growth rate is projected to slowdown further in 2016.
