The Indian currency Rupee against the US dollar rose to highest since November 2015 on increasing outflows from Indian stocks and bonds. The Chinese markets were witnessing selloff and this also resulted in further withdrawal by foreign investors in Indian markets. The net outflow from Indian markets in January so far was at $686.2 million putting more pressure on currency reserves.
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Motorola Hits Market With Moto G3, The Most Budget Conscious Smart Phone
Motorola has unveiled its Moto G3 smart phone in July 2015 and now released in the market. The concept for making budget conscious smart phones has been attracted by other mobile giants including its mother concern, Lenovo. Lenovo expects to grab the budget phone market shortly with its self developed similar products.
Canada to cut key rate to zero this year
Lower oil price, sluggish global financial markets and weaker Loonie are impacting Canadian economy and forcing central bank to lower interest rate to zero level. Canada may move to negative interest rate in the near future, forecasts Barclays Plc. Bank of Canada is forecast to cut key interest rate by 25 basis points to 0.25 percent this week.
Amazon introduces Dash Replenishment Program on devices
Amazon introduced the Dash Replenishment service on selected devices. The devices powered by Amazon Dash Replenishment program could enable customers to order everyday fundamentals automatically from Amazon.
Microsoft To Offer Voluntary Replacement of AC Power Cable For Surface Pro Tablets
The AC power cables linked to Microsoft’s Surface Pro tablets of selective three generations pose fire risks due to overheating. Though a limited number of overheating issues have been reported, Microsoft is taking no risks and going to recall for a global voluntary replacement. Details on replacement procedure will be furnished in the Microsoft website sometimes later this week, possibly on Friday.
Latest News
U.S. Department of Transportation will be allocating $4 billion for the next 10 years in self-driving car technology. Government will boost the effort in developing autonomous vehicle to increase safety innovation.
Audi and Mercedes Benz, world famous German automakers have joined to express their interest for hydrogen fuel powered cell cars. Remaining one step ahead of Mercedes, Audi has already introduced its H-tron Quattro at the North American International Auto show, held at Detroit. Industry insiders assume, Mercedes, the lavish German carmaker will introduce its first hydrogen fuel cell car at the 2017 Frankfurt Auto Show.
Indian Prime Minister Narendra Modi reveals the details of his much talked-about project, Startup India. Some key highlights are revised IP registration policies, faster exit and entry, income tax exemptions, and benefits for a woman entrepreneur. Modi hopes with this plan in action, India will soon become the hub for global startups.
Indian Prime Minister Narendra Modi recently revealed his ambitious project, Startup India. The Rs10,000-crore plan is meant to encourage a thriving startup culture by reducing government regulations and hurdles from the way. This government aid should prevent the young entrepreneurs from fleeing to another country with better bureaucratic policies.
India-based Tata Steel is reducing manpower by 1,050 in the UK operations. Tata Steel is among other steel producers suffering from falling steel prices and cheaper imports from China. The UK steel industry is urging European Commission to take necessary action against unfair trade imports.
China, as part of a wider drive into progressive industries to boost its GDP growth, plans to combine over 40 entities to work on the giant $22 billion plane-engine project. Under the plan, the government of China along with companies like Aviation Industry Corp. would invest 35 billion yuan.
Amazon is currently working on its Prime Air drones, which will revolutionize the concept of online shopping completely. These drones have an in-built sense-and-avoid technology that allows them to reach their destinations unharmed, and deliver online orders within an unbelievable 30 minutes.
The child labor reported is taking place in the Democratic Republic of the Congo in cobalt mines. The estimation says that about 40,000 children are working for the mines. Companies listed in the report gave various responses following the accusations.
Chevron said that its subsidiaries in Australia have entered into a non-binding Heads of Agreement with ENN LNG Trading Co. Ltd to sell liquefied natural gas to China. The delivery of LNG will be commenced in the first six-month of 2019, according to the company.
