VENTURE CAPITAL POST

The central bank of India is looking into a phenomenon of a massive surge in the public cash during the election period. Election expenses and cash gifts for voters are among the factors speculated to contribute to the cash spike.

French government offered an old nuclear plant site for Tesla to build its electric car manufacturing facility. The plant site is shutting down and Tesla’s existence could help support local residents with jobs.

After moving its headquarter for six years in Swiss, the petrochemical giant sets to return home. Founder and CEO Jim Ratcliffe planned to relocate its headquarter back to England.

Qatari media network Al Jazeera is announcing its plan to cut 50 jobs as a part of an optimization initiative. As a partly state-funded company, Al Jazeera is impacted by the slump in oil prices, which is the country’s main sector.

State-run media broadcasts indicated that the Chinese government is turning against the country’s most successful e-commerce company Alibaba. However, the company didn’t seem to take much damage from the reports in terms of sales and shares.

Ride-hailing app Grab is partnering with Indonesian conglomerate Lippo Group. Under the deal, Grab will provide its service to deliver products from the conglomerate’s e-commerce. The deal emerged when ride-hailing services in Indonesia are facing challenges in terms of regulations.

India’s gold market is threatened as the government revealed a new jewelry tax regulation, requiring a 1 percent sales tax on gold jewelry. Import taxes has not been changed, even though jewellers have expected the government to eliminate the 10 percent import duty.

Pittsburgh’s culinary sector is growing fast as the city host more and more projects in the past few years. Cheap rent is believed to have drawn a lot of people, especially youth, to pursue their project in the city.

Australian tech companies are heading to Singapore to support their businesses. Some tech companies are expecting Singapore to be one of the startups landing pads established by the Australian government to help companies access the global business network.

China’s property market keeps on growing even amid the country’s economic slowdown and weak exports. The surge in the real estate sector is contributing positively to the country’s economy as a new economic driver.

The sales of Honda’s first five-seater fuel cell vehicle has began in Japan, and the Clarity Fuel Cell is planned to enter the European and U.S. market later this year. The new fuel cell car is seeing some performance improvement and only takes three minutes to refuel its compact fuel cell stacks.

The Bangladesh central bank said that it has lost $100 million from its account at the Federal Reserve Bank of New York, later discovered to be transferred to the Philippines banking system. The central bank claimed that the Fed’s system was hacked, although the New York Fed denied that there was any hacking attempt made regarding that transaction.

Argentina is planning to issue $15-bilion bonds making it the largest sum by any developing nation since 1996. Country's new President Mauricio Macri-led government will use funds mobilized through bonds for repaying debts and supporting government spending.

China has decided to layoff millions of workers from 'zombie enterprises' in the next two to three years. For relocating retrenched workers, the government will spend Yuan 100 billion ($15.27 billion). China's economy is suffering from industrial overcapacity and pollution levels.

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.