Greece recalled its ambassador from Austria, following Austria's decision to close its border for migrant. While majority of people are not satisfied with government's way in handling economic crisis.
Sectors
China's super regulator plan may merge banking, securities & insurance sectors
China is working on a new financial super-regulator mechanism to take care of banking, securities and insurance segments under one umbrella. Recent turmoil in the financial markets are driving the Chinese government to revamp financial monitoring mechanism.
India to Infuse $3.65 Billion of Capital Into Government-Run Lenders
India is about to fund $3.56 billion of capital to govrnment-run lenders because of bad and restricted loans. Banks felt relief as the government is ready to help them when they need the capital.
General Electric Mocked Startups, Proclaimed Itself as Tech Company
GE have been trying attract tech workers since last year. In its new Oscars ad, GE mock the startups and proclaim itself as a tech company and an industrial company.
Indian tech start-ups seek investment from China
The technology start-ups in India are looking for investments from Chinese companies like Cheetah Mobile. The booming Indian technology sector is attracting many tech companies in China to invest in these Indian techs start-up firms.
Latest News
Central Reserve Bank of Peru is increasing local currency bank reserve requirements (reserve ratio) to support its weakening currency Nuevo Sol. The capital reserve ratio will be one percent from March 206 onwards from existing 0.75 percent.
The Japan Finance Ministry is organizing a seminar for women covering the topics on the country’s fiscal policy. Women’s fashion magazine editor-in-chief Hiromi Sogo will serve as one of the six female speakers encouraging women to take a more active role in the country’s economy.
SpaceX aborts its third attempt to launch its Falcon 9 rocket, which is designed to land its booster on a platform, making spaceflight more affordable. The abrupt scrub, just seconds before the liftoff, was due to an unexpected delay that caused the fuel to fail.
With the release of the yearly budget many are hopeful that their lives will change for the better especially for those who live in the rural areas. The allocated budget focuses mainly on the agrarian sector, health and social and infrastructures that could help alleviate sufferings and give comfort for the less fortunate.
Following CDC announement of the risk of carcinogen in its product, the company's stock plunged since last week. Lumber Liquidators is trying hard to win back trust from customers and investors.
Kumagai Gumi Co, a Tokyo Stock Exchange-listed Japanese construction firm, recorded hammering down of its shares. The stock suffered the most in over 13 years. The news that construction defects in a residential complex made Kumagai Gumi rebuild five apartments has hit hard shares and investors' confidence.
Registering the highest since April 2009, Nissan Motor Co's stock surged 12 percent following its buyback news. Nissan has announced its plan to buyback $3.5 billion worth shares.
Beating market predictions, industrial production in Japan rose during January 2016. On the other side, retail sales eased 1.1 percent. The mixed situation in the world's third largest economy is signaling ongoing uncertainty about GDP growth rate.
The US economy recorded better than expected performance during the fourth quarter enabling it to conclude 2015 on positive mode. Surpassing the forecast of 0.7 percent, the US economy grew one percent during September-October quarter in 2015 giving much leverage to the US government to tighten monetary policy.
