Google planning to operate wireless networks in African Asian markets using balloons

Google is believed to be deeply involved in a series of projects to build and operate wireless networks in emerging markets, including sub-Saharan Africa and Southeast Asia. An article in The Wall Street Journal said that the effort is part of a plan that could connect a billion or more new people to the internet. According to the article, Google is making efforts to build wireless networks ...

Move Over Japanese Yen Make Way For Chinas Yuan

By 2015 the Chinese currency, the renminbi (RMB), will be one of the three most traded currencies in the world, on par with the euro and the dollar, HSBC said on Friday. "The RMB is increasingly part of normal day-to-day business for anyone trading or investing in China," said Douglas Flint, chairman of HSBC Holdings at the Annual General Meeting in London yesterday. "Every ...

Asian Markets Weekly Update Fed Fears and Weak Chinese Factory Data Fuel Sell-Off

Most Asian markets outside Shanghai were down this week with the Nikkei shedding last week's gains and ending the week's trade at 14612.45, a 4.35% plunge in the five days to 24 May. Equities in the world's third biggest economy were pulled down during the week, tanking 7% on 23 May, by news that the US Federal Reserve could decrease its asset buys in the coming months and by ...

Kobe Steel mulls shutting blast furnace in western Japan -Nikkei

TOKYO | Sat May 25, 2013 4:24am EDT TOKYO May 25 (Reuters) - Kobe Steel Ltd is considering shutting a blast furnace in Kobe, western Japan, to cut production capacity by 20 percent, the Nikkei business daily reported on Saturday, as it tries to turn around its loss-making iron and steel business. Its iron and steel operations posted an ordinary loss of 50.2 billion yen ($496.1 million) ...

China stocks plunge on US debt train crash

Chinese stocks tumbled Monday as investors sold off holdings increasingly worried about a possible default of government debt by the United States which is to bring the global economy back to a serious slowdown. Also, railway shares plunged after the weekend deadly high-speed train wrecking accident in East China's Zhejiang Province which has killed at least 36 people and injured more than ...