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.
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Oscar dela Hoya teams up with FilmOn TV to launch Golden Boy Channel, The Ring
The 10-time world champion Oscar De La Hoya teamed up with FilmOn TV Networks to two boxing channels called The Ring and Golden Boy Channel. This is a treat for the Golden Boy’s fans who are looking to relive his glory days on their TV screens.
Carl’s Jr. and Hardee’s Join Other Fast Food Chains to Offer $4 Meal in "Price War"
The “Real Deal” value offer is launched as a response to the so-called price war joined by other fast food restaurants, including McDonald’s, Wendy’s, Burger King, and others. Carl’s Jr. and Hardee’s Real Deal differs in menu set items as the parent company aims to give a real value option to customers.
Vietnam warns China over oil rig drilling in disputed sea
Vietnam warned China against drilling an oil rig in borderline waters in the South China Sea. Vietnam's anxiety over the rig develops subsequent to a recent flight testing carried out by China on a fake island in Spratly archipelago.
Global fears prevent US Fed from rate hike plan
The adverse conditions in the global economy and weaker stocks on Wall Street may prevent the US Federal Reserve from going for a rate hike again. Some analysts forecast four more rate hikes in 2016, while Reuters' poll indicate three times hike this year. The slump in commodities, weaker global markets, slowdown in China's economy and lower oil prices are causes of concerns for the US Fed as these are upsetting the Wall Street.
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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.
Malaysia’s Petronas will cut $11.4 billion from its capital and operating expenditure for the next four years as rout in oil prices continues, sending Brent crude price to $28 per barrel.
China grew 6.9 percent in 2015 indicating the slowest growth rate in 25 years. The growth rate was 6.8 for the fourth quarter of 2015. The world's second largest country recorded 7.3 percent growth rate in 2014. Investors are cautious about the impact of slowdown in China's economy. IMF forecasts China's economy growth rate at 6.3 percent in 2016 and six percent in 2017. Chinese government has set a target of seven percent growth for 2016.
China is set to report its weakest full-year growth figure in 25 years. The official GDP data will be published by China’s National Bereau of Statistics on Tuesday.
The Hong Kong dollar fell for four straight days to a four-year low of 7.8040 against the US dollar Tuesday morning, due to outflow of US dollar capital from the region and its weakening economy.
Nashville's hot chicken has been the city's iconic dish for a long time, and KFC adopted the recipe as its newest menu. The promotion already began Thursday in the U.S and the menu was also launched worldwide.
Stress at work sometimes cannot be avoided. However, certain jobs have lower stress levels, including Information Security Analyst, Diagnostic Medical Sonographer, University Professor, and Hair Stylist.
The lower oil prices are forcing rig operators to reduce their activity in North Dakota. The number oil rigs operational fell to 49 indicating the lowest since August 2009. The number of oil rigs is expected to further drop to 30 this year. There're concerns over possible bankruptcies following the decline in oil drilling North Dakota.
The debt burden of South African farmers reached to over Rand 125 billion ($7.5 billion). The total debt of farmers was up 14 percent in 2015 to Rand117 billion. Economists alert that the prevailing slump in commodities markets, tighter monetary, fiscal policy, drought conditions and drop in value of Rand will trigger higher than expected inflation rate.
