The slump in the Chinese economy slowly is bottoming out. Although China’s central bank has slashed the country’s forecast of exports the second consecutive time in a year, it has said it still expects the economy to grow at 6.8%…. Read More ›
Economy & Finance
Non-oil Revenue Surge and Salary Clamp Down Planned by Saudi Reform Plan
While describing the reforms designed to reduce Saudi Arabian economy’s dependence on oil and build a sustainable future, ministers of the kingdom said that the country plans to more than triple the government’s non-oil revenues and clamp down on public-sector… Read More ›
Polls Show Momentum for Brexit Resulting in Fall of Pound and Volatility Jump
Reviving concern the June 23 referendum will throw global markets into turmoil and undermine confidence in the 28-nation trading bloc, polls showed more Britons favored quitting the European Union and the pound dropped to a three-week low. Three surveys on Monday… Read More ›
Possible Bidders Circling Avianca Include United Continental and Delta
As airlines around the world seek combinations to help them withstand fierce competition and bulk up internationally, the United Continental Holdings Inc. and Delta Air Lines Inc. are among suitors considering bids for Avianca Holdings SA, reported the Wall Street… Read More ›
India Pitched Before Silicon Valley by the Country’s Market Regulator
With the intention of encourage more investment in his country’s thriving technology startups and to promote rule changes in his country protecting minority shareholders, the head of India’s financial markets regulator visited Silicon Valley this week. Investors in India’s over-4,000… Read More ›
Brexit looms large over Fed’s June interest rates hike
The U.S. Federal Reserve will most likely take a call on hiking interest rates after Britain’s historic vote on EU. So as to factor in the economic fallout of Britain leaving the European Union, the U.S Federal Reserve may be… Read More ›
Price Target on Apple Inc cut by Goldman Sachs
Reflecting an indication of a potentially lower growth rate from the smartphone industry, investment bank Goldman Sachs cut its price target on Apple on Thursday. Earlier, the bank had also reduced its forecast for the global smartphone unit growth. Goldman Sachs… Read More ›
With $2.8 Billion Demandware Buy, Salesforce Takes Aim at E-Commerce
Demandware Inc, whose software is used by businesses to run e-commerce websites, would be bought over by cloud-based software maker Salesforce.com Inc. the latter company said on Wednesday. The deal is expected to be worth about $2.8 billion. As Salesforce… Read More ›
With its new round of funding, Uber gains further traction in the Middle East
Saudi Arabia’s Public Investment Fund has valued the company at $62.5 billion. In this latest round of funding, Uber mopped up $3.5 billion at a time when funding for tech startups are contracting. Uber has gained further traction in the… Read More ›
Singaporean wealth funds invest $1 billion in Alibaba
The U.S. SEC is investigating Alibaba’s sales data of its annual Single’s Day event. Softbank has since reduced its exposure but has maintained its dominant profile in Alibaba. With Softbank selling some of its shares, Singaporean wealth funds have now… Read More ›
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