Result Page 135 for Archives

Pravin Gordhan returns as new Finance Minister: South Africa’s banking index goes high

South African President Jacob Zuma has decided to reappoint Pravin Gordhan as Financial Minister after removing David van Rooyen from the position. Gordhan will take over this position again which he had held previously for five years. Following this, shares in South Africa’s banking index surged to 15 percent.

Dec 17, 2015 3:54 AM EST

News

Major U.S. Banks Raise Prime Rates After Federal Reserve Hike

Major U.S. banks raised their prime rates, a benchmark for a wide range of consumer and commercial loans, for the first time since 2006 on Wednesday, following a rate hike from the Federal Reserve. While the Fed has no direct influence on the prime rate, it is typically closely correlated to changes in the target federal funds rate.

Markets

US housing surges 10.5% in November

The US housing activity rose 10.5 percent in November. The construction activity in the single-family housing touched eight-year high. Builders turned optimistic on the US housing market. The mortgage rates are set to go up after the US Federal Reserve hiking the interest rate.

News

Third Avenue Management Obtains Exemptive Relief for Focused Credit Fund

Third Avenue Management LLC ("Third Avenue" or the "Adviser"), an investment adviser to private and institutional clients, today announced that the Adviser and the Third Avenue Focused Credit Fund ("FCF") have obtained exemptive relief from the Securities and Exchange Commission ("SEC") to continue to protect shareholders of FCF following modification of the Plan of Liquidation for FCF.

Russia's Ukraine bond is official sovereign debt: IMF

IMF's board has confirmed that Russia's holding of Ukraine bond is sovereign debt, but not a commercial bond. The due date on payment of Ukraine bond is 20 December. Russia is gearing up to take legal action if Ukraine doesn't pay within a 10-day grace period.

Dec 17, 2015 3:36 AM EST

No new Boeing 747 for Air Force One: Congress

The U.S. White House decided to delay Boeing 747 order for the new Air Force One upgrade to fiscal 2017. The congressional negotiators provide less than expected spending bill for the presidential aircraft

Dec 17, 2015 3:34 AM EST

Messaging Startup Slack Launches App Directory And Creates $80 Million Fund to Invest in Other Startups

Slack Technologies, a Silicon Valley company which owns team communication app Slack announced that it has launched a third-party App Directory aimed at being the de facto source for certified integrations. Slack is also forming an $80 million venture fund to invest in other startup funds. Slack has also reveals that it now has 2 million daily active users, a 16 percent jump from October, when the service had 1.7 million users. It also now has 570,000 paid seats, up from 470,000 two months ago.

Dec 17, 2015 3:30 AM EST

HTC One X9: An Android smartphone that looks like an iPhone

HTC plans to release its new Android smartphone called One X9. The smartphone is targeted toward midrange market, and will go on sale in early 2016.

Dec 17, 2015 3:15 AM EST

Moody's lowers rating on South Arica to 'negative' from 'stable'

South Africa's rating has been downgraded by Moody's from stable to negative. The sluggish economy, rising risks and political pressures are primary reasons for downgrading. The most developed nation in Africa is lagging in human and physical infrastructure resources. The country needs to enhance the skills set of people to make them employable.

Dec 17, 2015 1:53 AM EST

Lower fuel costs propel airline profits high

The year-long price weakness in oil is helping airlines post record level profits. During the last nine months of 2015, the US aviation industry recorded over 60 percent growth in profits. Fuel account for 30 percent of operating expenses of airlines. The drop in oil price is boosting operating profits. Airlines are also passing the oil price drop benefit to passengers as they slashed airfares.

Dec 17, 2015 1:41 AM EST

China, Belgium lead foreigners' offloading in US Treasuries

Foreigners offloading in US Treasuries reached its peak in October. China has been selling US debt after devaluing the Yuan. China also offloads through its Belgium third party account. Many other countries are also selling US Treasuries ahead of US Federal Reserve meeting.

Dec 16, 2015 10:11 PM EST

Handy Smart Wallet EKSTER Secures Belongings & Recharges Mobile Battery

Ekster, the calf leather built smart wallet, introduced by Kickstarter, Phorce appointed marketing agent, is witnessing a huge customer demand due to its unique features which include securing preserved cards through wi-fi, GPS tracking of lost device, super power storage capability as well as recharging to other devices.

Dec 16, 2015 6:25 AM EST

Google Unveils Designer Smartwatches, Info Personalized Android Wear

Google’s Tuesday’s announcement on bringing new designer watch faces to the Android Wear portfolio in collaboration with nine other crop designers, provides the users an opportunity to imagine smartwatches in more personalized and contextual manner.

Dec 16, 2015 6:20 AM EST

Delhi Bans Diesel Car Registration: Bold Step in Tackling Climate Changes

Concerns over rising air pollution and keeping the coffers full- two major issues need to fight for, by the Delhi Government. But since air pollution has reached to its hazardous level, a single path left for Kejriwal government to choose. Suggestions to opt for petrol run car while discouraging diesel run cars, facilitating city dwellers with more transport buses on government’s behalf and ignoring lower price of diesel on citizen’s behalf, may be the effective measures while combating climate change.

Dec 16, 2015 6:15 AM EST

New Zealand May Have a New National Flag

New Zealanders have chosen a design for a new national flag. New Zealand has now chosen a preliminary winner for the new design of its national flag. It took about a year, but the final decision for the first stage in the referendum will be made Tuesday when officials announce the winner between two finalists.

Dec 16, 2015 6:09 AM EST

Microsoft Philanthropies Launched to Improve Access to Technology

Microsoft has formed a new philanthropic arm to improve access to technology to combat some of world's challenging problems. Brad Smith, the software giant's President and Chief Legal Officer announced on Tuesday that the new philanthropic arm, Microsoft Philanthropies will focus on driving greater inclusion, and empowerment of people who do not yet have access to technology and the opportunities it offers.

Dec 16, 2015 6:05 AM EST