Drought, the Reason of Weakening Rand And The Cause of Food Inflation
The drought in South Africa has started to push food prices higher. The effect of it on inflation is a matter of concern for monetary policy committee of RBI as the value of rand is weakening against dollars. SA will face a serious fiscal crisis if rains do not start falling soon.
Nov 30, 2015 10:53 AM EST
US rate hike concerns push Rupee to 26-month lower
The Indian currency Rupee fell against the US dollar to 26-month low following increased concerns about interest rate hike by US Fed. FIIs may sell heavily in Indian markets if US interest rate is increased. Rupee fell 5.5 percent against US dollar this year so far.
Metals bounce, Asian stock futures gain as equities ease
Asian markets recorded diverge trends in global markets. Metals prices started rebounding along with rising Asian stock futures while stocks slipped into pressure on Friday. The US index futures also rallied. The Chinese government's probe into short selling is weakening the investors' confidence.
China issues high level alert for the heaviest smog of the year
China authorities in Beijing have issued the highest smog warning of the year. The heavy smog had developed on Friday and would continue until Tuesday. The air pollution levels in Beijing reached 18 times the level considered safe by WHO.
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Brazil confirms that zika virus is causing birth defects in the country
The Brazilian health ministry has confirmed a link between a mosquito-borne virus from Africa, Zika Fever, with the spike in the birth defects cases reported in the country. The fever is causing the newborn child to suffer from micro-encephalitis.
Nov 29, 2015 11:56 PM EST
Iran is changing its oil and gas contract to attract $30 billion in new investment
Iran has revealed a new model of oil and gas contracts during a conference in its capital city in an attempt to lure back international oil companies to invest in the country. According to the announcement, Iran will change its buyback system and allow foreign investors to hold more stake in the long run.
Nov 29, 2015 11:29 PM EST
Gazprom to start coal gasification at South Africa mine project
Gazprom Promgaz has decided to give sole distribution rights on coal gasification technology in sub-Saharan Africa to Anglo-African Capital Ltd. Both companies will work on coal gasification technology for developing new methods to explore coal reserves in more effective way. South Africa is suffering from a major problem of fast depleting coal reserves. Coal contributes over 80 percent in electricity generation in the country.
Nov 29, 2015 9:48 PM EST
NetApp profit beats estimates as cloud focus, cost cuts pay off
NetApp reported a quarterly profit that beat analyst's appraisals, as the organization's cost control measures and a movement to cloud-based storage items start to yield results.
Nov 28, 2015 8:22 PM EST
NASA aims to use modified bacteria to survive on Mars
The researchers at NASA's Ames Research Center has developed a strain of bacteria that can produce sugar for food supply. The bacteria will be on space test in 2017. The sugar produced by the bacteria could also be turned into fuel. Other type of modified bacteria can even make 3D tools for astronauts.
Nov 28, 2015 6:15 AM EST
China Fishery bonds drop as HSBC winds up its operation
China Fishery Group's bonds fell 34% as its banker HSBC has asked Hong Kong High Court to appoint liquidators for winding it up. HSBC filed an application for winding up of two companies -- China Fishery Group and China Fisheries International with an outstanding loan of $680million.
Nov 28, 2015 3:09 AM EST
Inflation Continues as Household Spending Declines in Japan
Japanese government need to issue a monetary stimulus to jumpstart economy. As inflation continue and CPI fell for the third consecutive month.
Nov 27, 2015 7:36 PM EST
OLA Hires the Infosys Veteran Rajiv Bansal As The Chief Financial Officer Of The Company
Ola appoints Rajiv Bansal as the Chief Financial Officer. This Infosys veteran is all set to join Ola at the beginning of the new year 2016.
Nov 27, 2015 8:19 AM EST
Investors Are Betting Massively On The Shining Future Of Recreational Cannabis
The future of legal cannabis industry is full of predictions. Even if the industry might experience a sudden drop in the sale due to new testing rule, the wholesalers will gear up immediately to pass the microbial testing standard. Now, undoubtedly, legal cannabis industry is a lucrative place for investors to put their bets.
Nov 27, 2015 8:10 AM EST
Postal Service Holiday Celebration With Peanuts Character
U.S. Postal Service app enables users to take selfie with classic comic characters Charlie Brown and his Peanuts gang for the holiday celebration.
Nov 27, 2015 1:02 AM EST
Oil prices marginally slip on glut, bleak outlook
The concerns about the geopolitical tensions in the Middle East faded out as oil price marginally eased after gaining for six sessions. Brent and the US crude oil futures were flat ahead of the US Thanksgiving holiday.
Nov 27, 2015 12:49 AM EST
US consumers spending below forecast as savings soar
The US consumer spending rose only by 0.1%, below the 0.3% forecast while savings rate rose to the highest in the past three years. According to the US Commerce Department's data for October, Americans are savings faster than spending.
Nov 27, 2015 12:04 AM EST
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