economy

Chinese Venture Capital Firm Pando Group is Investing $2 Million in Israeli Fintech Hub The Floor

Israeli fintech hub initiative is receiving $2 million investments from Chinese venture capital firm Pando Group. The partnership is expected to build the bridge between Israel companies and the Asian markets.

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South African Currency Slumped as Finance Minister to Resign Over a Spat With Tax Commisioner

South Africa’s currency has dropped to its four-year low after the news of the country’s finance minister threats of resignation was reported. Finance minister Pravin Gordhan threatens to resign over a spat with Tom Moyane, as the minister demanded the tax commissioner to be dismissed, or he himself would leave.

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National Bank of Greece joins EBRD's trade scheme

The European Bank for Reconstruction and Development (EBRD) is supporting National Bank of Greece via its trade finance scheme. From 2015, EBRD is investing in Greece, helping the crisis-hit economy recover as early as possible.

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Propery Investors To Face Tough Economic Condition in South Africa

Property investors would face tough economic condition in South Africa due to the economic resession the country is facing. Finance Minister Pravin Gordhan is attempting to overcome this by increasing tax, that could slow down property sales in the country.

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Silicon Valley Startups Are Buying Fewer High-End Bikes as Bonuses as They Seek to Cut Expenses

Bikes maker Palo Alto Bicycles, which Silicon Valley startups have often contacted to purchase high-end custom bikes for their employees, have confirmed a decline in sales. The declining sales are likely to be an indicator that startups are being more careful in spending money as investors got tighter in demanding profitability.

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Japan's factory output up while retail sales shrink

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.

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Singapore's GDP increases 1.8% in Q4, 2015 growth at 2%

Singapore's GDP has increased 1.8 % in the fourth quater in 2015. For the full year of 2015, it has increased 2%.

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UK's GDP growth rate remains at 0.5%; IMF cautions about global growth

UK's GDP growth rate was remained unchanged at 0.5 percent for the fourth quarter of 2015. Services sector contributed the most to the GDP growth. Meanwhile, International Monetary Fund (IMF) has cautioned about weakening global growth.

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Sands China Foresees Recovery in Macau Casino Industry as The Company Prepares Its Newest Parisian Resort

China’s leading developer and operator of integrated casinos in Macau, Sands China, anticipate the casino industry recovery after a prolonged decline in revenues. The company is also preparing to finish its newest project, The Parisian Macao, to be launched later this year.

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South Africa Aims to Boost Tourism as The Growing Sector Contributes Significantly to the African Economy

South Africa Tourism Minister Derek Hanekom said in the Meeting Africa 2016 forum that the boost in tourism could benefit the local economy. Tourism has been increasing phenomenally in recent years as the government aims to invest more in the sector.

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China's Economic Slowdown Is Deliberate and Healthy, According to the IMF

The newly-elected managing director of the IMF, Christine Lagarde, spoke at the Global Women’s Forum 2016 regarding the global economy, especially in the wake of the China economic slowdown. Despite the prolonged slowdown, the IMF foresee that China’s lower growth was deliberate and healthy.

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New policies unveiled to push China's economy

China has unveiled a series of new initiatives to push its economy growth rate. The government is keen on meeting the increasing demand in small and medium-sized homes. Another set of new rules for accelerating reforms at state-owned enterprises will be announced soon.

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Syrian Refugees in Turkey Contributed to the Country's Economic Growth According to Government Officials

Turkish government officials acknowledged that the influx of Syrian refugees to the country has contributed in boosting the economy. Turkey’s economic growth has seen an unexpected growth in the third quarter, even as some economic aspects suffered and strained from the flow of migrants.

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The African Economic Summit Ends With Calls to Boost Economy With Investment

This year’s African economic summit was ended with calls to boost trade and investment on the continent. The conference aims to strengthen Africa’s place in the world economy through investment and to establish Egypt as a gateway for foreign investments.

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South Africa's economy flutters, GDP to slowdown

A gamut of factors are affecting the South African economy as dwindling inflows of money, weaker currency, rising unemployment rate and severe drought conditions are at their worst in 25 years. South Africa's GDP growth rate is projected to slowdown further in 2016.

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