Government Development Bank's $72 billion in debt is making Puerto Rico possibly America's Greece
Puerto Rico's Government Development Bank is struggling to manage $72 billion in debt, the majority of which is from its own making. The first payment of $355 million of the general obligation debt is due December 1, but the country seems that it will have to default on that payment and subsequent payments. The debt was created from excessive lending and now the governor has asked the help of the US government to allow the country to file Chapter Nine bankruptcy.
Dec 02, 2015 8:29 AM EST
Coca-Cola ad in Mexico attacked for insensitivity to indigenous rights and health
A new Coca-Cola ad in Mexico has been taken down due to massive criticism that its depicts local indigenous groups poorly while also encouraging poor health.
7-Eleven in Asia: the HQ of Snacks and Unique Services
7-Eleven stores in the Asian market provide unique products and services to their customers unlike the originals in the US.
Egyptian Oil declines, imports increase
Egypt’s oil exports is in a steady decline amid growing domestic demand and increasing local production, while imports are steadily increasing.
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Faulty component, inadequate crew response major factors for AirAsia A320 plane crash December last year
Indonesian officials said Tuesday that faulty rudder and inadequate response from the crew are the major reasons for the crash of the Indonesian AirAsia A320 on December 28 last year, killing 162 people on board.
Dec 02, 2015 5:02 AM EST
APEC summit expected to bring economic development to Philippines' Mindanao
The Apec Summit 2015 held in the Philippines is expected to boost economic activities in the country’s southern region of Mindanao.
Dec 02, 2015 4:58 AM EST
Alibaba's stock decline despite acquisition spree is due to its traditional business strategy, says Forbes
China’s Alibaba has been acquiring companies for the past two years, but it is a wonder why its stock prices are continuously declining. Experts blame its strategy and China’s economic slowdown.
Dec 02, 2015 4:55 AM EST
AT&T to increase grandfathered unlimited plans price to $35 from $30 on February 2016
AT&T increased the price for its unlimited data plans to $35 from $30 a month, the first hike since seven years.
Dec 02, 2015 4:53 AM EST
BlackBerry exits Pakistan to prevent government from accessing servers
BlackBerry Ltd. will exit Pakistan to avoid the country’s government demands of unfettered access to its secure enterprise service servers.
Dec 02, 2015 4:47 AM EST
Honda lifts retirement age to address Japan's aging demographics
Honda Motor Co. will lift its employees’ retirement age to 65, making it one of the biggest companies in Japan to address the nation’s aging demographics.
Dec 02, 2015 4:44 AM EST
Indian billionaire takes on India's top wireless carrier to enhance voice and data service
India’s Bharti Airtel Ltd will invest 600 billion rupees, or $8.98 billion, to protect market share as the country’s richest man, Mukesh Ambani, plans to invest $15 billion on cheaper 4G broadband network services.
Dec 02, 2015 4:40 AM EST
Kuwait Appoints New Oil Minister before meet with OPEC
Kuwait on Sunday appoints Anas al-Saleh, its oil minister with its current finance minister and deputy prime minister, replacing Ali Al-Omair, who is now minister of public affairs and is still current state minister for parliamentary affairs.
Dec 02, 2015 4:36 AM EST
Samsung launches web browser for Gear VR
Samsung launches beta version web browser for Gear VR called Samsung Internet for Gear VR. It supports 360 degree and 3D video streaming as well as HTML5 video. The app is available for download in Oculus store starting on Dec 2.
Dec 02, 2015 3:25 AM EST
Mark Zuckerberg gives 99% of his Facebook shares to charity
Mark Zuckerberg and his wife Dr. Priscilla Chan announced in an open letter to their new daughter, Maxima Chan Zuckerberg that they are donating 99 percent of Zuckerberg stocks in Facebook to charity. The donations will take place over their lifetime, and the exact worth of the shares will likely change.
Dec 02, 2015 3:24 AM EST
GazProm Halted Gas Supply to Ukraine Due to Non-Payment
GazProm CEO said that the Russian company has stopped its gas supply to Ukraine starting last Wednesday due to payment issue.
Dec 02, 2015 2:32 AM EST
Russia Started To Build The Largest Nuclear-Powered Data Center
Russia began the construction of its largest nuclear-powered data center. The first phase of data center will be opened in 2017.
Dec 02, 2015 2:22 AM EST
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