Micromax has been the popular smartphone company in India but with the introduction of other cheaper smartphones from other companies, Micromax is now struggling to keep pace with its competitors. It is now seeking partnership for expansion to produce television and tablets outside its home country.
China has decided to implement its stringent anti-pollution efforts despite slowing down of economy. China is propelling up economy growth without compromising on environment protection.
Chicago Transport Authority has planned to replace 2,600 age old rail cars with 846 units of 7000-Series cars. CTA has awarded the $1.3 billion deal, the largest purchase in its history to a unit of CRR Corp. on Wednesday. Chinese companies have been awarded the second major deal following $567 million contract to supply trains for Boston’s subway system.
MMB patented gene modified seeds are capable of secreting anti pest protein. However, the seed giant is accused of charging higher royalty fees exerting undue dominance in the seed market. Upon complaints from respective trade body, the Indian agriculture ministry has imposed ceiling for royalties on gene modified cotton seeds.
Diagio Plc, British liquor major, says it paid $40 million to trouble-ridden Indian businessman Vijay Mallya. This comes close on the heels of an order by Debt Recovery Tribunal (DRT) not to pay Mallya any amount.
China's stocks fell for a second session, but managed to pare early losses on buying support from state-backed institutions. However, the buying support from state-backed funds renewed concerns that inflation is rising.
Citigroup has established a new asset management group to offer varied solutions and services to richest investors across the world. The new global asset management group will function within investment banking business and it'll bring several segments together.
As Japan tried to revive economy in northeastern area after devastating tsunami and earthquake, winery is considered a good solution. Winery is pioneered in Miyagi prefecture to boost economy in disaster zone.
500 Startups is seeing a great potential in Vietnam, where more than half of its population are below the age of 30 and most adults are using smartphones. The Silicon Valley-based accelerator is preparing a $10 million investment fund dedicated for Vietnam startups.
The state backed venture funds of China have raised around ¥1.5 trillion ($231 billion) during 2015. The local fund managers are working to collect another ¥2 trillion which seems to be impossible to handle. Shortage of skilled fund managers and eligible startups has been analyzed as the major hurdles in managing such huge funds.
Asian stock market dropped starting Monday after three weeks rally. Concern over oil prices and economic outlook of China triggered the drop.
It's a race for Toshiba Medical Unit between Canon, Fujifilm Holdings, Konica Minolta and Permira Holdings. Nikkei said Canon has the highest bid amounting to $6.2 billion. Whoever the winner is, will be decided on Wednesday.
U.S. Commerce Department puts export restriction on ZTE for violating export restriction to Iran. Starting Tuesday, ZTE will not be able to acquire U.S. products without export license
Australian economy was picking up pace during the fourth quarter. The commodity-based economy witnessed an annualized growth rate of three percent, fastest in two years, as against the forecast of 2.5 percent.
Brazilian iron ore miner Vale and Australian miner Fortescue, both have reduced their debt burdens significantly through disposing less prospective assets. Under such situations, news for tying up with each other seems to be unusual. But analysts observe the move as highly strategic to cope up with the market situation.
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