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.
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.
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.
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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
Nickel makers explore ways to weather lower prices
Suffering from 12-year low price levels, nickel makers are planning to slash production and supply levels to boost the prices. The slowdown in China's economy is impacting the most nickel consumption and its price. Nickel manufacturers are considering several options on how to propel the price and sustain the current adverse conditions.
Nov 26, 2015 10:36 PM EST
Brazilian bourse's app to track illegal timber trade
With an objective to check illegal timber trade, Brazilian bourse BVRio has launched a new app that helps foreign buyers scan legal code for every timber lot. Over half of the Brazil's timber trade is illegal, according to a report. The illegal logging is fast adding to deforestation, which has created more concerns among residents of Amazon region. Local residents formed into militant groups to protect forest cover and assets by taking action against illegal loggers.
Nov 26, 2015 10:32 PM EST
Herbalife Comes Out Clean Against the “Pyramid Scheme” Lawsuit By Oklahoma Funds
The CEO of Herbalife wins the lawsuit filed against him by the Oklahoma Funds. This lawsuit is not related to the Ackman case filed.
Nov 26, 2015 9:02 AM EST
E.Coli Infection In Seven States Linked to Costco Chicken
Costco chicken salad is said to cause e-coli poisoning in seven states according to Center of Disease Control and Prevention.
Nov 26, 2015 4:46 AM EST
Lufthansa cabin crew union calls off strike
The main cabin crew union (UFO) at Lufthansa airline has called off a labor strike which lasted until 13 November, registered as the longest strike in the history of the German airline. The management has agreed to extend basic retirement and pension benefits to staff. The next meeting is scheduled on 2 December. In addition to UFO, two other unions will also take part in discussions with the management.
Nov 26, 2015 4:01 AM EST
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