Since her 2013 inauguration, president Park Geun-hye tried to enhance startups company and investing $3 billion. Now country starts to see the payoff of its initiative. One last hurdle is to change the people's mindset on entrepreneurship.
As an investment bank, a problem in investment-banking operation will damage the overall performance. Deutsche Bank suffered its first annual loss since 2008, followed by drastic drop of its shares.
Federal Reserve Bank will issue a much tougher annual stress test this year. The test aims to prevent recurrence of 2008 crisis, analyzing resilience of 33 large U.S. banks against the worse-case hypothetical scenario..
U.S. stocks bounced back after being dragged down on Wednesday by volatility in China. Global market followed to regain, while oil price began to stabilize.
China's tech startup may find 2016 as a tough year as venture capital will face a slowdown this year. Analyst predicted venture capital in China will decline this year, and government try hard to boost the development.
Deutsche Bank AG reported €6.8 billion ($7.2 billion) losses in 2015. As a result, co-CEO John Cryan and Juergen Fitschen announced on Thursday that the management board will not receive bonus.
The summit will provide a platform for foreign investors, African companies, and regulators to meet, discuss relevant issues, and form relationships. East Africa has a strong potential to develop Islamic Finance because of the high demand for its services and products.
The Barack Obama administration announced more restriction lift on Cuba thus helping to improve the country's economy. The restriction lift will allow film shooting, travelling access and also a direct trade with the state run enterprise there.
Unicorn is a term defining a startup company with over $1 billion valuation. Now, there will be other group of tech startups defined as "rabbit" to differentiate them from unicorns-overhype that become unicorpse.
JPMorgan Chase is all set to revolutionize the concept of ATM cash withdrawals. The bank will introduce the new system in the form of e-ATMs which will basically render bank cards redundant. The machines will dispense cash via a simple mobile app, in different denominations like $1, $5, $20, and $100 bills. At the same time, Chase has increased the withdrawal limit by three times, at $3000.
Russian ruble is decreasing and hits all-time record low against dollar last week. Starting this week, the currency started its way to recover and reach 10- day high.
The statement came from Baidu's senior vice president Wang Jing. He believes that Baidu has some advantage over other car makers, especially local knowledge. The company has already invested a lot in the development of AI, that could help the development of autonomous cars.
U.S. stock declined sharply on Monday over concern of economic condition and oil price. The Fed is scheduled to have a meeting this week, and market anxiously wait for the next step U.S. central bank will take.
BlueVine the fintech startup company completed its $40 million in Series C funding last Wednesday. The investment was led by Menlo Ventures and other participants.
A bitcoin startup Digital Asset Holdings has received funding from major banks. It will work closely with investors on research and commercialization of bitcoin technology applications. Digital Asset said that it has raised over $50 million funding from 13 investors. The list of investors includes JPMorgan Chase & Com, Citigroup Inc, BNP Paribas SA, CME Group Inc and Accenture Plc.
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