Volkswagen, has been forced to face civil lawsuit on Monday allegedly due to deliberately violating Clean Air Act. After being caught by the regulator in September, VW has admitted installing software that is designed to trick regulators while undergoing official tests. However, if proves guilty, VW may count penalty up to $18 billion and face other criminal charges in the US as well as other parts of the globe.

Jan 05, 2016 07:52 PM EST

Saudi Arabia suspends all flights to and from Iran. The country also ban its citizen to travel to Iran in a new chapter of Middle East sectarian.

Jan 05, 2016 03:24 AM EST

Tesla Motors started 2016 with an incident. In Norway, its Model S was caught fire while being charged last Friday.

Jan 04, 2016 10:25 PM EST

With an objective of reviving the economy, Bank of Japan (BoJ), Japan's central bank, is playing a role of activist investor in the domestic equity markets. The central bank's governor and Prime Minister are also asking corporate companies to increase capital expenditure and wage rise. Bank of Japan holds $54 billion in exchange-trade funds (ETFs). Japan's economy is suffering from weaker consumption and deflation.

Jan 05, 2016 03:21 AM EST

The year 2016 may witness encouraging employment generation, but moderate salary rise. The inflation rise will erode the salary rise benefits. India and the UAE may record robust job growth rate. IT, app economy, retail and BFSI sectors to lead emplyment generation of about 3.5 million in India. Dubai Expo-2020 may play a key role in jobs growth rate in the UAE.

Jan 05, 2016 04:07 AM EST

Economists and analysts foresee the five key factors that would influence the global economy significantly in 2016. The major aspects such as industrial production, consumer spending, international trade, currency trends and inflation will influence the global economy. The lower energy costs will propel consumer spending upwards, while resulting in inflation rise.

Jan 04, 2016 10:21 PM EST

Latte Macchiato, combination of espresso and milk, is going to be served by Starbucks, the Seattle based Café Chain. The popular Australian drink is being introduced to the Americans by Angus Maxwell, certified barista serving the coffee chain. The new beverage joins the Starbucks menu and is believed to be a stepping stone between a cappuccino or flat white and an Americano among those desiring to change the taste bud.

Jan 04, 2016 10:55 PM EST

After Vietnam, Philippines, a close US ally, has described China’s efforts as acts against its sovereignty. All the three neighboring countries contend for the ownership of the probably oil/ gas enriched Spratly Islands. Not only the hidden mineral resources but also the geographic location of the islands, has led the neighboring countries to dominate one of the busiest naval routes.

Jan 04, 2016 10:23 PM EST

Oil price is rising amidst tension between Saudi Arabia and Iran. The oil price started the first day of trading in 2016 at the price of $38 a barrel before reduced to $37 in the afternoon trading.

Jan 04, 2016 10:21 PM EST

Researcher in Taiwan invented a way to fly a drone using body movement. It utilized the motion sensor in AppleWatch to control and pilot a drone.

Jan 04, 2016 04:39 AM EST

Sydney home prices fell for the second-consecutive month. The market also recorded its worst quarter in four years as a regulatory crackdown pushed up mortgage rates causing weak demand in the housing sector.

Jan 04, 2016 06:09 AM EST

Asian ship building industries will face a bleak year in 2016 due to low oil price. As a result, shipyards receive less orders for offshore rigs project. Korean, Singaporean, Chinese and Japanese as the main shipyard owners in Asia are preparing necessary measures to manage the crisis.

Jan 04, 2016 05:32 AM EST