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China's president starts his first official US visit

Xi Jinping and his wife are visiting the US for a week as the country is trying to strengthen its relationship with the US. During this visit, Xi Jinping will also meet Obama as the two leaders will discuss military policy.

Sep 23, 2015 8:25 AM EDT


French court decides: UberPop officially banned in France

The French Constitutional Court rejected Uber's appeal regarding UberPop's case. The court supported the law that was passed last year, implying only professional drivers must render services in the country.

Sep 23, 2015 4:29 AM EDT


2.4M applicants lined up in India for 368 low-level government jobs

2.3 million Indians scramble for 368 low-level government jobs that have tea making and bike riding as qualifications, symbolising the bad condition of India’s job market.

Sep 23, 2015 2:35 AM EDT


Tsipras to push bailout package, hike taxes

Soon after coming back to power for the second time in lthe same year, Alexis Tsipras is making measures that support the third round of euro 86-bn baiklout package. He inducted two baikout negotiators into the government economic team. Barring two parties, remaining all the parties are supporting the bailout package.

Sep 23, 2015 2:26 AM EDT


China President calls for punishing cyber hackers

China President Xi Jinping ahead of his US tour called for punishing the cyber hackers, while making it clear that his government doesn't engage in hacking. Our government wouldn't support Chinese companies engaged in such activity, Jinping said. Meanwhile, US National security advisor issues a warning to China for stopping state-backed cyber theft. The issue of cyber crime is likely to be main topic of disuccsion at the crucial meeting between Obama and Jinping.

Sep 22, 2015 6:18 PM EDT


Decline in drilling, oil prices up

The drop in oil inventories and shut down in drilling activity for the past 3 weeks have pushed oil prices upwards. Oil crude rose 4.5% to $46.68 per barrel and US Brent price rose $48.91 a barrel on Monday.

Sep 22, 2015 6:13 PM EDT


Australian banks close 13 bitcoin firms' accounts

Four Australian banks have closed down the accounts of 13 bitcoin firms following the stricter norms on anti-money laundering and terrorism finance. The Australian banks have already sent letters to 17 more bitcoin firms stating that their accounts will be closed down.

Sep 22, 2015 10:10 AM EDT


Chinese firms sign L.A-Las Vegas high-speed rail project

After 10 years of working on the project, the high-speed rail link between Los Angeles and Las Vegas is taking off following the signing of a deal by a group of Chinese firms with XpressWest, a US company. The China President Xi Jinping is visiting the US, during his tour next week, the project will be announced.

Sep 22, 2015 12:00 AM EDT


Crisis-hit Puerto Rico takes up VAT route to shore up revenues

Caribbean islan Puerto Rico has decided to implement VAT system from 1 April 2016 onwards exempting its manufacturing industry from paying taxes on imports of raw materials. The new tax system has been designed with an aim of facilitating the much controversial $1.5-bn stimulus plan for reviving the ailing economy. The Islan has also increased sales tax.

Sep 21, 2015 11:11 PM EDT


Brexit is the highlight for EU-UK talks

David Cameron and few officials have been actively meeting with European Council to seek out options best for Britain. The result whether Britain will still become an EU members or not could be known as early as next year.

Sep 21, 2015 11:04 PM EDT


Alibaba and Suning Partnership Could Change China's E-commerce Domination

China e-commerce sompetition is getting fierce as AliBaba and Suning had agreed to a partnership. The partnership could see both companies grow their customers with the latest O2O strategy to outrun current market leader JD.com.

Sep 21, 2015 10:08 PM EDT


US export companies look to other shores as EXIM shuts down

The US companies engaged in foreign trade and aviation firms find it difficult to run the show following the closure of the US Export-Import Bank (EXIM). This causes non-availability of export financing and loan guarantee for the US companies. As a result, many comapnies are planning to shift out of the US to establish units overseas. Aerospace Industries Association is lobbying with Congress members for revival of EXIM.

Sep 21, 2015 9:50 PM EDT