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.
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.
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.
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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
Mitsubishi Motors in US calls it a day
Mitsubishi Motors is closing down its US operations following high production costs and low volumes. The Japanese automobile major was hit by strong US dollar that makes imports attractive.
Sep 21, 2015 2:02 AM EDT
Even Google is confused on how much value it adds to the UK economy
US tech giant Google recently reported how much value it adds to the UK economy, which the search engine does to most nations where it operates in. It reports that it helped created 210,000 jobs, and an additional £11 billion to £28 billion revenue for business in the UK.
Sep 21, 2015 1:56 AM EDT
Asian shares advance as Fed keeps rates unchanged
Asian markets advanced Friday, buoyed by the US Federal Reserve's decision to keep interest rates near zero. But Japanese shares fell as the yen strengthened.
Sep 20, 2015 11:57 PM EDT
New rules to relief Cuba embargo laid out by White House
White House is laying out new rules to lessen the pressure on Cuba embargo. Businesses such as telecommunication and banking will be allowed to establish through joint ventures with Cuban firms like Etesca.
Sep 20, 2015 11:35 PM EDT
Cuba renews drive for UN to condemn US embargo
Cuba is marshaling United Nations support against the US embargo that it says crippled its economy over five decades. Among the Communist state's supporters are President Obama and Pope Francis, who is visiting the Communist state this week.
Sep 20, 2015 11:16 PM EDT
American Airlines halted U.S. flights after a technical problem
American Airlines had grounded its flights Thursday afternoon. This is due to the airline's computer glitch. Flights had been resumed after two hours.
Sep 20, 2015 10:48 PM EDT
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