economy news

Companies in UK Only Show Little Concern Over Brexit

As the country divided in the Brexit issue, British companies showed a little concern regarding Brexit. They considered Brexit do not affect their business activity.

Chinese Venture Funds Grows Up To $338 Billion, Appear As The World’s Biggest Pot of Fund

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.

Valeant Pharmaceuticals Shares Plunges After SEC Investigation

Canadian pharmaceutical company shares dropped 18% on Monday, as the company admitted being under investigation by U.S. Securities and Exchange Commission.

Puerto Rico Desperately Needs US Help to Handle Debt

Puerto Rico, the island territory of U.S. is in the crisis due to its surmounting debt. Governor Alejandro Garcia Padilla repeated the island's debt will lead to moratorium.

Greece Recalls Its Ambassador in Austria Over Migrant Dispute

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.

US economy concludes 2015 on positive note

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.

Future of Britain outside EU remains uncertain

Britain's exit from the European Union will have a negative impact on the economy of the country, according to officials. The UK prime minister pledges to negotiate a better agreement for the nation in the union.

Fintech Startup Will Change Global Finance as Regulators Closely Watch

Year 2015 was dubbed as year of fintech. As financial technology startup companies flourish and gain huge fund. Global regulators are closely monitoring the fintech startups and will propose rules to regulate them.

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.

Eskom to Receive Last Payment of 5 Billion Rand Bailout By Next Week

Next week, Eskom will be paid the remaining balance from the bailout. Eskom CE Brian Molefe expressed frustration to learn that Finance Minister Pravin Gordhan announced that the funds will be withheld. Treasury informed that the fund will be transferred and is already being processed.

Fitch Also Degrades Economic Outlook of Azerbaijan After S&P And Moody’s

S&P and Moody’s have downgraded economic outlook of Azerbaijan during the previous month. On Friday, the other US Stock Exchange Commission recognized rating agency, Fitch Ratings, has also downgraded the outlook. Country’s government and central bank adopted measures have apparently gone in vain to tackle the economic turmoil.

Venezuela’s ‘Gold Dream’ May Get Fettered Over Conclusion of Other ICSID Proceedings

Venezuela has announced on Wednesday reaching a $5 billion venturing deal with Gold Reserves. The government is expecting to enrich its ever decaying foreign currency reserve with the fund under agreement. But analysts assume, the government may hardly use the fund since Gold Reserves and several other plaintiffs’ proceedings with ICSID are going to be concluded shortly.

New Zealand can sustain low inflation according to Finance Minister Bill English

According to Bill English, New Zealand can sustain low inflation as the central bank aim to reduce borrowing costs, if needed. New Zealand is hoping to achieve economic stability amid the global financial crisis.

Alberta's economy continues to shrink over uncertainty in oil market

The economy in Alberta will continue to shrink for the next two years amid weak crude prices globally. The province's shortfall in 2017 -2017 is anticipated to outstrip the October outlook by almost $5 billion.

Bank of England has many choices to boost Britain's economy according to Governor Mark Carney

Bank of England has many choices to boost Britain's economy. The bank may slack its financial policy on fears that the country may exit the European Union.

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