The strengthening of Yen is eroding the value of Japan's exports to the US. Its overall exports volume was flat, while the value declined over four percent owing to rising Yen.
Tags: China
ArcelorMittal to sell 3 of its US steel operations
Billionaire Lakshmi Mittal-controlled ArcelorMittal is selling three of its US steel operations to Black Diamond Capital Management. As part of the sale deal, ArcelorMittal will offload three units at LaPlace in Louisiana, Harriman in Tennessee and El Paso in Texas. Both companies denied to provide terms of the deal.
The World is Facing Sugar Shortage Until at Least 2017, Caused by El Niño
El Niño is hitting on cane productions especially in Asia, leading to a global shortage and the rise in prices. This would be the first year of sugar shortage after years of surplus. The shortage is projected to be prolonged to at least next year.
Iron Ore Climbs as China Property Market Recover
Price of iron ore rallies as China's property market showed further sign of recovery. Surge in the price of iron ore also correlated with increase in steel futures.
China's Anbang to Acquire Starwood Hotel Group At More Than $13 Billion Bid
Starwood is about to dump Marriott's offer in favor of Anbang's more than $13 billion bid for the acquisition. If the deal pushes through, Starwood will pay Marriott a breakup fee of $400 million. Marriott has been given five days to counterbid.
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China will try to draw up rules to regulate ride hailing service as the market has grown very big. Meanwhile Indonesia transportation minister plan to ban Uber and GrabTaxi.
A two-day policy meeting of US Federal Reserve will conclude on Wednesday. US Fed Chair Janet Yellen is expected to keep short-term interest rate unchanged for now and may go for a hike in June.
China’s property market keeps on growing even amid the country’s economic slowdown and weak exports. The surge in the real estate sector is contributing positively to the country’s economy as a new economic driver.
Israeli fintech hub initiative is receiving $2 million investments from Chinese venture capital firm Pando Group. The partnership is expected to build the bridge between Israel companies and the Asian markets.
There is a saying "Strike while the iron is hot". That is what Silicon Valley is doing - investing big in India where the economy grows faster.
The Zimbabwe government will now take control all of the mining fields in the country as the state is being robbed of its wealth. Billions of dollars have been stolen from the nation's treasure chest because of smuggling and swinding according to President Mugabe.
An official filing revealed that Uber is facing huge loss in its international operation, as the company spent big on global expansion. The main factors of the loss are regulatory obstacles and local rivalry.
China will lower threshold for foreign investment and advance the revision on relevant regulation. China targets to attract more foreign investment in the country.
The world's second largest economy will lower threshold for foreign investments in 2016. The Commerce Ministry of China has confirmed that the government is in the process of lowering the limit on foreign investment for 2016 year. China recorded 6.4 percent growth in foreign direct investment during 2015.
