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Monthly Archives: May 2017

Snapchat leads augmented reality gains: Researchers

Washington – Augmented reality is seeing strong gains among Americans thanks to social networks like Snapchat, Instagram and Facebook, a market research firm said Monday. A new report by eMarketer said some 40 million Americans will engage with augmented reality monthly in 2017, up 30 percent over last year. Virtual reality is also growing, but at a slower pace, according ...

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US and Pacific Rim countries at odds in heated trade meeting

  HANOI: Japan and other members of the Trans-Pacific Partnership agreed on Sunday (May 21) to pursue their trade deal without the United States as the Trump administration’s “America First” policy created tension at a meeting of Asia-Pacific countries. Turmoil over global trade negotiations was laid bare at a meeting of the Asia-Pacific Economic Cooperation (APEC) forum, which failed to ...

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Bitcoin options exchange raises US$11.4 million in funding

NEW YORK: Ledger Holdings, the New York-based parent company of bitcoin options exchange LedgerX, said on Monday it closed US$11.4 million in funding led by Miami International Holdings Inc and China’s Huiyin Blockchain Venture Investments. The funding supports LedgerX’s plan to operate a regulated exchange and clearing house for bitcoin and other digital currencies. LedgerX is awaiting regulatory approval from ...

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Samsung Elec says will continue looking for M&A opportunities

REUTERS – Tech giant Samsung Electronics Co Ltd will continue looking for acquisition opportunities, a company executive said on Monday, as the firm seeks to build software and services to further differentiate its products. “We are going to be bullish on finding companies that fit our strategy,” Peter Koo, a senior vice president for Samsung’s mobile division, said during an ...

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Business air travel taxiing to take off again

  Geneva – The business aviation sector, in the doldrums for nearly a decade, could be readying to take off again, as plane makers seek to lure company executives with onboard connectivity and super-comfy seats, experts say. The 2008 global financial crisis and subsequent geopolitical and economic woes sent the business air travel sector into a tailspin, particularly in countries ...

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Airbus hires outside monitors amid fraud investigations

  PARIS: Airbus has appointed an independent panel including two former ministers to examine its anti-corruption practices after Britain and France launched fraud and bribery investigations into the sale of jetliners. Europe’s largest aerospace group said on Monday the three advisers, who include former German finance minister Theo Waigel and former French European affairs minister Noelle Lenoir, will report to ...

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Chinese regulator approves VW-JAC Motor electric car venture

  BEIJING: Germany’s Volkswagen AG and Anhui Jianghuai Automobile Group (JAC Motor) have received approval from Chinese regulators to form a joint venture to make electric vehicles, the two automakers said on Monday. The National Development and Reform Commission (NDRC), China’s top state planner, gave a green light to JAC and VW to build 100,000 pure battery electric vehicles annually ...

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Merkel says Germany must help France’s Macron to succeed

  BERLIN: Germany must help new French President Emmanuel Macron to succeed, Chancellor Angela Merkel said on Monday, saying she hoped he manages to fight unemployment in France and adding that the best way to counter pots was to solve problems. Macron is due to meet unions on Tuesday to discuss labour reform. He has said he intends to use ...

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EU warns France and Spain on deficits, clears Portugal

Brussels – The EU on Monday kept France and Spain on notice for excessive public spending, but absolved bailed-out Portugal after it stayed within the bloc’s deficit limit for the first time since 2007. The European Commission, giving its opinions as part of its annual assessment of EU national budgets, also singled out Italy for running a worryingly high public ...

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China, Russia launch long-haul challenge to Boeing, Airbus

  Shanghai – China and Russia on Monday launched an ambitious project to jointly develop a long-haul jet to challenge Boeing and Airbus, just two weeks after the successful test flight of the first made-in-China large passenger plane. State-run Chinese manufacturer Commercial Aircraft Corporation of China (COMAC) and Russia’s United Aircraft Corporation (UAC) said they formally established the previously announced ...

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