The east African nation Ethiopia is poised to grow at 8.1 percent in 2016 from 8.7 percent growth in 2015. This makes Ethiopia a fastest growing nation in the world. The government spending on infrastructure projects is mainly driving the economy growth.
Sectors
Weatherford International Plc Lays-Off 6,000 Workers Due To Plunging Oil Prices
Weatherford International Plc lays-off 6,000 workers due to plunging oil prices. The company believes diminishing supply would influence the oil prices for good.
Lions Gate Entertainment To Merge With Premium Cable Network Starz After Three Years Delay
Lions Gate Entertainment Corp. continues the discussion with Starz regarding the possibilities of the two companies to merge. The talk had been started three years ago, and now it is looking for a further agreement.
Samsung Debuts 4K Blu-Ray Player, UBD-K8500/ZA For $399 With Limited Availability
Samsung has released 4K Blu-ray player, UBD-K8500/ZA at selective stores of Santa Monica. The product has been expected to get released sometime in March. The new video player for $399 is believed to offer a superb content viewing experience.
Twitter Removed More Than 125,000 Accounts In Fight Against Radical Islamic Millitants
The social media site, Twitter has disclosed for the first time removal of more than 125,000 accounts on allegation of aiding terrorism. ISIS has been using Twitter and other social media sites as platforms for spreading their ideologies and recruiting new members. Facebook is also adopting special measures in this regard due to growing concerns over poor policing by the sites against terrorism.
Latest News
VTech Holdings said that it has entered into an agreement to acquire electronic toymaker LeapFrog in an all cash offer. The electronic learning toy maker will fund the acquisition with the internal resources.
Just Eat said that it has agreed to purchase Rocket Internet's businesses in Italy and Spain as well as Mexican and Brazilian arms from Foodpanda. The company believe that the acquired assets will help it to broaden its vision.
New York's first micro-units apartment building will be launched in March. Smaller apartments are getting more popular as a living alternative because of the lower cost. New York City ranked second in a list of cities with the highest rents.
The program is an extension of the Reuse and Recycle iPhone program that originally didn't include broken iPhones in its trade-in program. The broken iPhones would be credited for $50-$250 that could be used to get a brand new iPhone. The extended program will be available in the U.S shortly within a week.
The loss is combined from its corporate service unit and its three refineries. The total annual loss was consistent with the company's continuing monthly loss over the past year. Nigeria, as Africa's biggest economy and largest oil producer, has been greatly suffered the oil prices fall.
The leading steel company, ArcelorMittal, has no option but to raise money to pay off its huge debts. The company has resorted to issuing shares and selling off its minority stake in Gestamp, the Spanish auto-parts manufacturing company. The decision should fetch Lakshmi Mittal almost $4 billion - $3 billion from share issue and $1 billion from Gestamp - and reduce the debt burden to some extent.
Continental Automotive Systems has decided to recall almost 5 million vehicles worldwide after they detected flaws in air-bag deployment units. The supplier has already alerted its potentially affected customers and rolled out the recalling phase through automakers like Honda, Fiat Chrysler, and Mercedes-Benz.
Vivo, the trade name of Telefonica Brasil prepared a strategy in the worsening economy. The strategy is expected to increase sales and efficiency.
BEHL is going to purchase the leading German waste to energy recycler EEW for €1.44 Billion. The deal appears to be the largest ever Chinese direct investment in Germany. Following legal obligation, the transaction will be cleared under the German Foreign Trade and Payments Ordinance.
