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Author Archives: Mahroz Sab

Focus Market Report: Brazil GDP to expand by 13pc in 2015

BRASILIA: In less than a month of the new year, the financial market follows with a daunting position relative to the growth of the country in 2015, which will border on again stability. To the Gross Domestic Product (GDP) this year, according to the Focus Market Report released, will show an expansion of 0.13% compared to 0.38% pointed in the ... Read More »

South Africa to spend $860m to ensure supply of HIV/AIDS drugs to public hospitals

JOHANNESBURG: South Africa will spend 10 billion rand ($860 million) between 2015 and 2017 on life prolonging HIV/AIDS treatment drugs as studies show the prevalence of the virus is raising. South Africa has more than 6 million people, or 18 percent of the population, infected with HIV the heaviest caseloads in the world. It also has one of largest treatment ... Read More »

Russian tycoon Timchenko says not interested in buying Bashneft

MOSCOW: Gennady Timchenko Russian tycoon said on Tuesday he was not interested in buying mid-sized oil company Bashneft and would not be interested in doing so in the future. The state plans to hold a sale of the Bashneft shares seized from Sistema. A Moscow court has ruled in favor of transferring Bashneft shares owned by Sistema to the state. ... Read More »

German’s E.ON CEO Teyssen says to put focus on organic growth

BERLIN: Chief Executive Johannes Teyssen said E.ON German utility plans to put priority on natural growth rather than acquisitions once it has spun off its power plants, energy trading and upstream businesses in 2016. Teyssen told E.ON will grow more through organic growth and less via acquisitions. He also sought to assuage concerns about the new company, which has been ... Read More »

Roche buys diagnostics firm to assess risk of genetic abnormalities

ZURICH: Roland Diggelmann said that the Roche acquired San Jose, the California-based Ariosa Diagnostics, Incorporate, a molecular diagnostics firm which makes a prenatal test to assess the risk of Down syndrome and other genetic abnormalities. Roche diagnostics executive Roland Diggelmann said the acquisition of Ariosa is another example of Roche’s commitment to advanced molecular diagnostics. Financial details of the deal ... Read More »

Philips resolves patent dispute with Nintendo over motion tracking system

AMSTERDAM: Philips Dutch technology group resolve patent dispute with Nintendo over the motion and gesture tracking systems use in the Japanese company’s gaming consoles. The Philips said the two companies had sealed a deal to cross license portions of each other’s patent portfolios and that it would terminate patent infringement proceedings against Nintendo in Germany, Britain, France and the United States. ... Read More »

Deutsche Bank to sell Arrowgrass stake to Foundation

FRANKFURT: In London hedge fund of Deutsche Bank is negotiating the sale of stake in Arrowgrass Capital Partners to private equity firm Foundation Capital Partners. Further the Deutsche Bank’s 17.5 percent stake in Arrowgrass would be included in that sale. Deutsche Bank was not immediately available for comment. And the Foundation would pay between $100 million and $200 million for ... Read More »

NASA: Huge sunspot may kick start massive solar storm

WASHINGTON: NASA scientists have said that a largest sunspot will appear on Earth’s nearest star in more than two decades, and it will probable kick start solar storms. NASA scientist Holly Gilbert said that the active region has rotated back around to face Earth again, and although the sunspot has shrunk in size, it will likely be disruptive. Active Region ... Read More »

German’s E.ON to split to focus on renewable energy, power grids

FRANKFURT: E.ON Germany’s top utility spinning off power plants to focus on renewable energy and power grids, a dramatic response to industry changes that could trigger similar moves at European peers. The Europe’s power sector has been hit by weak energy demand in a sluggish economy, low wholesale power prices and a surge in demand for cleaner renewable energy which ... Read More »

Sony hires FireEye mandiant to resolve internal security infringe

CALIFORNIA:Sony tap Mandiant security firm  to help for clean up after so far another destructive cyber attack. The electronics giant was dealing with the result of network interruption, and as a result, was forced to shut down Sony Pictures Entertainment computer systems. FireEye’s Mandiant forensic squad, with the combination of US Federal Bureau of Investigation (FBI), is assisting with the ... Read More »

NASA, huge sunspot may source massive solar storm

WASHINGTON: NASA scientists the largest sunspot to appear on Earth’s nearest star in more than two decades, and it will probable kick start solar storms. NASA scientist Holly Gilbert said that the active region has rotated back around to face Earth again, and although the sunspot has shrunk in size, it will likely be disruptive. Active Region 12192 the massive ... Read More »

Xiaomi Mi Band sells 1 million units in first three months

BEIJING: Xiaomi sells over 1 million units of its Mi Band in three months, china is the only marketplace, where possibly find the Mi Band. The fitness tracker was launched in July this year for $13. The fitness focused smartband offers a battery life of 30 days, and it can also be used to unlock your phone. Mi Band is ... Read More »

Porsche to bring cars with manual gearboxes

STUTTGART: Porsche hoping it provides a point of difference for car performance, promise to keep offering its sports cars with a manual transmission in future. Brand has followed other rivals in deleting a three pedal option from 911 such as the hard core GT3 and top end Turbo models in favor of a faster shifting dual clutch automatic. Product director ... Read More »

Middle East’s Azadea aims $500 million from stake sale

DUBAI: Azadea Group aims to raise up to $500 million with the sale of a minority stake in the business, a retailer with franchise rights for brands such as Gap, Zara and Superdry across the Middle East. Azadea expects to fetch between $400 million and $500 million with its offer of a 25 percent stake Based in Lebanon but with ... Read More »

Head Xbox Japan Takashi Sensui resigns

TOKYO: Interactive Entertainment Business General Manager at Microsoft Japan Takashi Sensui resigns but he will keep working in the games business at the US head office. Microsoft said Sensui’s position would not be replaced, and added that his transfer was not related to drooping Xbox sales. Microsoft spokesperson said that it was “part of a global re organization of the ... Read More »

Ford to unveil New Grille inspired by Ford Ranger

COLOGNE: Ford releases a new teaser video that shows what the new Ford Ranger will look and upcoming new Ford Ranger will be in a new grille body with same size. New grille design is inspired by new Ford Everest that Ford just released. The new Ford Ranger will be entering the market in 2015. Besides the grille, the new ... Read More »

British’s Virgin purchases $570 million credit card portfolio from MBNA

LONDON: Virgin Money, the British bank has purchased credit card balances worth 363 million pounds ($570 million) from MBNA American Bank, expanding its credit card business. Further Virgin, listed on the London Stock Exchange last month and looking to challenge Britain’s biggest lenders, acquired a credit card portfolio worth 1 billion pounds from MBNA in January last year. Chief Executive ... Read More »

Chinese billionaire to sweeten bid for Club Med

PARIS: Guo Guangchang Chinese billionaire is sweeten his bid for the struggling French holiday group Club Mediterranee to trump Italian tycoon Andrea Bonomi’s offer in France’s longest running takeover battle. The $1 billion plus bid process told Guo’s conglomerate, the Shanghai based Fosun, was set to raise its bid on Monday, and that Brazilian investor Nelson Tanure would be involved ... Read More »

Avolon Aircraft raises $4.2 billion in debt with US Securities

DUBLIN: The Dublin based firm said Avolon Aircraft leasing company Holdings set out plans on Monday to list shares on the New York Stock Exchange and raise $286 million to $314 million for shareholders. And Avolon, backed by private equity firms Cinven Limited, CVC Capital Partners Limited and Oak Hill Capital Partners, as well as Singapore’s sovereign wealth fund, set ... Read More »

Microsoft to unveil Windows 10 features

WASHINGTON: Microsoft is planning to unveil the consumer detail feature preview of Windows 10. Microsoft will discuss about new touch interface dubbed Continuum with large number of features. The company will also detail its plans for Windows phones and tablets and probably control panel updates for its Xbox One gaming console. Windows 10 is designed to operate across multiple devices ... Read More »