Latest International Business News
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June 28 to see News Corp split into two companies
WASHINGTON - Rupert Murdoch's News Corporation Friday announced the planned separation of the $76-billion conglomerate into two distinct publicly traded companies, with one to be renamed 21st Century Fox and the publishing firm to retain the News Corp brand. The split has been formally approved by the Board of Directors. The Company announced appointments to the Boards of Directors of both ...
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Audit records of Chinese firms to be made accessible to US regulators
BEIJING - Chinese regulators Friday announced that they have signed a memorandum of understanding with their US counterparts giving American authorities increased access to documents from Chinese audit firms. The signing of the MOU between China Securities Regulatory Commission (CSRC), the Ministry of Finance (MOF) and the US Public Company Accounting Oversight Board (PCAOB) is a significant ...
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Investments being sought by Croatia for oil exploration in Adriatic Sea
ZAGREB/LONDON - Croatia, soon to become the 28th member of the European Union,- is looking to undiscovered oil and gas fields in the Adriatic Sea to revive its ailing economy, according to the country's president. Ivo Josipovic told CNN that Croatia is searching for partners in the energy sector to help reveal oil and gas "green fields" in the waters that separate the Balkan nations and ...
More International Business News
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Fan fiction authors to find platform on Amazon
WASHINGTON - Amazon, the largest online retailer of books, movies, music and games, Friday offered its Kindle e-book platform to fan fiction authors to sell some of their work. Fan fiction is literature inspired by popular books, shows, movies, comics, music, and games. Publication outside of blogs and online fanzines is often difficult because of copyright issues. Amazon Publishing has ...
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Central bank of China to push forward market oriented reforms
BEIJING - China is planning to steadily push forward market-oriented reform in its interest rates and exchange rates mechanisms this year as part of the financial sector reforms to better serve the real economy, a central bank report said on Friday. The "China Financial Stability Report (2013) released by the People's Bank of China stressed that it would be steadily promoting the interest ...
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UAE investors finally get apartments after 7 year wait
Damac Properties has begun handing over apartments in its long-awaited Oceanscape project in Abu Dhabi. Most investors bought apartments off-the-plan in 2006, paying 30% of their purchase price in the first 120 days of reserving their property. After seven years Damac has finally finished the project, one of its first and probably last Abu Dhabi ventures. Despite being four years late, ...
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IMF warns UK against continuing austerity programme
LONDON - In a critique of the United Kingdom's austerity programme, the International Monetary Fund Wednesday urged the Europe's third largest economy to rebalance the policy to make the transition to a high-investment and more export-oriented economy. "The UK could boost growth by bringing forward measures already included in its fiscal plan, such as spending on infrastructure and job ...
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African Leaders Condemn Ongoing Use of Cluster Bombs
Thirty-six African countries have formally condemned the use of cluster bombs and urged all of Africa to join a global ban on the deadly weapons. Delegates at a conference in Lome, Togo say they are gravely concerned about the ongoing use of cluster munitions and the mounting number of victims, including women and children. They say 14 African countries have a cluster bomb problem, ...
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RIL-BP make gas discovery in KG-D6 block
Reliance Industries Limited (RIL) has announced a huge natural gas discovery in the flagging eastern offshore KG-D6 block which would help in arresting falling output. In a statement issued here it has claimed that the KGD6-MJ1 well was drilled in a water depth of 1,024 metres - and to a total depth of 4,509 metres (4.5 kilometres below seabed). "Formation evaluation indicates a gross gas and ...
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News Corp. Board approved companys split into two public traded entities
News Corporation Board has approved the split of its company into two publicly traded entities putting a step forward in separating its entertainment businesses from the publishing division. The board announced the terms of share distribution, named the board of directors for both the firms, and a 500 million dollars stock-buypack program for the new corporation. In a report by Fox News, the ...
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Bang With Friends mysterious CEO revealed
Bang with Friends- the controversial Facebook app run by its CEO and co-founder who just goes by his initial 'C' has been revealed accidentally by Internet New York which included the founders' name on the online ballot. BWF app creator Colin Hodge, 28, and Omri Mor had remained anonymous till last week, but the leak of their identity through Internet Week New York disappointed Hodge, the Daily ...
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Japans ORIX announces capital participation in major Mongolian financial firm
Orix Corporation, a leading integrated financial services group of Japan, has announced its decision to foray into the Mongolian financial services business through an alliance with TenGer Financial Group (TFG), a major Mongolian financial group. The Japanese investment giant has reached an agreement to purchase about 16 percent of shares in TFG and will obtain the necessary permits in view of ...
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9-year-old girl tells McDonalds CEO to not trick kids into eating unhealthy food
A 9-year-old girl took on the head of McDonald's Corp. on healthy eating during the fast-food chain's annual shareholders meeting on Thursday. Fourth-grader Hannah Robertson, who spoke up during the gathering's question-and-answer session, told the fast food mogul that it would be nice if he stopped trying to trick kids into wanting to eat junk food all the time, the New York Daily News ...
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China planning to give private businesses larger role in economy
China is planning to give a larger role to private businesses and market forces in its economy. The move comes in a major policy shift intended to improve living conditions for the middle class and to make China a stronger competitor on the global stage. According to the New York Times, in a speech to party cadres, Chinese Prime Minister, Li Keqiang, said the central government would reduce ...
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Car sharing with strangers a growing business in US
The sight of a hitchhiker on the curb trying to hail some charitable driver could be a thing of the past as the practice of car sharing grows. As a result of the recent economic crisis, the US has seen a wide range of companies ready to convert any and every car into a rental vehicle and provide its proprietor with extra income, while offering clients much lower prices than what a taxi or a ...
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Russia plans four spacecraft launches in 2014
Russia's Energia Rocket and Space Corporation will make four launches next year from the Pacific Ocean-based Odyssey platform under the Sea Launch programme, an official said. Corporation president Vitaly Lopota said that after 2014, Energia will be able to make five or more launches a year. Next year's launches will be the first since one of Sea Launch's Zenit vehicles carrying an Intelsat-27 ...
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Moily says proposed natural gas price revision to apply to all companies
Strongly refuting allegations of favouring Reliance Industries, Petroleum and Natural Gas Minister M Veerappa Moily has said that the proposed revision in natural gas price will apply to all companies, including state-owned ONGC. He said the proposed increase in natural gas price is being done strictly in line with the formula proposed by the Prime Minister appointed panel headed by Economic ...
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Historic web page recovered by online appeal
An attempt to recover the first web page from the earliest days of web world has been successful. The page recovered belonged to 1991 and was demonstrated by Sir Tim. Cern launched its project to recover artefacts and documents from those earliest days. Web creators Tim Berners-Lee and Robert Cailliau initiated a public appeal for files, hardware and software tracing the earliest days of web ...
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Ex-world champ warns Hamilton to look out for biggest threat Rosberg in Monaco
Former world champion Damon Hill has warned Mercedes ace Lewis Hamilton that his biggest threat to second triumph in Monaco is his teammate Nico Rosberg, instead of big guns Sebastian Vettel or Fernando Alonso. The German son of Finland's 1982 champion Keke Rosberg has been a revelation this year, out-qualifying Hamilton for the last two races and establishing his credentials by keeping the ...
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UN rights experts call for stronger protection of victims of caste-based discrimination
24 May 2013 150 More than 260 million people across the world are still victims of human rights abuses due to caste-based discrimination, United Nations independent experts warned today, urging South Asian countries to strengthen legislation to protect them. "Caste-based discrimination remains widespread and deeply rooted, its victims face structural discrimination, marginalization and ...
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Doug Ford says drug allegations against him are not true
Toronto Coun. Doug Ford says allegations that he once dealt hashish are "not true" and an "outright lie." In an interview with CP24, Ford denied ...
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Rob Fords brother Doug sold hashish in 80s alleges newspaper Doug denies all
The Toronto mayor's brother and city councillor has denied allegations in a Globe and Mail story he was once a hashish dealer. The mayor's brother says he doesn't do ...
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Doing Online Business In The Cloud
If your company isn't utilizing cloud computing technology, you risk falling behind in the marketplace. The cloud makes it easier to manage, share and store content and data, and the figures show that your competition has most likely already moved to the cloud or is about to make the switch. Gartner predicts global IT spending will exceed $3.7 trillion this year, and the chief analyst at ...
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Montrealers join global anti-GMO protest
A woman holds a sign as people gather for the global march against Monsanto and genetically modified foods in downtown Montreal on Saturday. A few thousand people marched in Montreal in cold and rainy weather against the agricultural biotechnology ...
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Cruise industry group adopts Passengers Bill of Rights
The head of the Cruise Lines International Association says its new "Cruise Passenger Bill of Rights" adopts many practices U.S.-based lines already use. The CLIA, the largest trade group in the industry, plans to ask the International Maritime Organization to recognize the bill of rights, ABC News reported Saturday. The document says passengers must be allowed to disembark if the ...
Kazakhstan Focus
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Kazakhstan capital's next challenge
Astana, the capital of Kazakhstan, has experienced rapid growth in recent years and has seen the completion of some impressive architectural feats, now there are plans by the government to build a huge indoor city within the capital, providing the country with a modern feat of engineering and a tourist attraction of which to be proud.
Astana and Dubai, despite vast differences, have a few things in common as cities. Dubai is not the capital of the United Arab Emirates, while Astana is the capital of Kazakhstan, Astana is one of the coldest capitals in the world while Dubai is in one of the hottest regions on the planet. But Astana, like Dubai, has experienced rapid development in recent years, due in large part to the relocation of the capital to the city, and like Dubai, it has had to make sometimes impressive adaptations to architecture and development in order to compensate for the climate. Read more
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