Bitcoin is soon becoming as safe a haven as gold, say analysts. In recent weeks there has been a rapid increase in the price of cryptocurrency. Touching levels not since February 2014, it traded above $730 per bitcoin at the end of last week. Since bitcoin shares many of the characteristics that makes the precious…
With the aim of improving vehicle safety, driver assistance systems that integrate artificial intelligence (AI) would be developed in the next five years by Toyota Motor Corp is targeting, said the head of its advanced research division. Toyota aims to improve car safety by enabling vehicles to anticipate and avoid potential accident situations said Gill…
Two new companies are hoping to change the way you buy sports tickets as prices on the secondary market soar. While ShooWin offers options to ensure the most loyal fans aren’t priced out when it comes playoff time, GameHedge is guaranteeing you a good game. The current state of the ticket market has to be…
With the market hoping that the union of two aging cosmetics giants can reinvigorate both companies’ brands, Revlon Inc. is all set to acquire Elizabeth Arden Inc. for about $419 million. New York-based Revlon said that including the debt of Elizabeth Arden, the $14-a-share deal values Elizabeth Arden at about $870 million. A 50 percent…
Philanthropist Bill Gates calls for bringing on the genetically modified mosquitoes. In order to make mosquitoes more resistant to diseases like malaria and dengue, biologists armed with a new gene-editing technology have proposed altering mosquitoes in recent years. The researchers say they can quickly push an alteration through an entire species using a mechanism known…
With the aim of cutting its debts, the remaining stake in a multi-billion dollar development project of 1Malaysia Development Berhad’s (1MDB) was taken over by the Malaysian government through an agreement that was signed very recently between the two parties. 1MDB’s 40 percent holding in the Bandar Malaysia project would now be controlled by the…
A state owned oil company from Malaysia and a Saudi Arabian Oil Co. has planned to construct refinery and a petrochemical complex in the Southeast Asian nation and the two companies are seeking proposals from banks for a finance of about $7 billion for the planned project, the media said quoting people familiar with the matter.…
To help the home-sharing company Airbnb Inc. to develop new services and fund growth initiatives, a $1 billion debt facility from some of the largest U.S. banks has been secured by the company, sources close to the matter told the media. JPMorgan Chase & Co., Citigroup Inc. and Bank of America Corp led the debt…
The World’s 50 Best Restaurant Awards, an annual tradition that has become a beloved — if lightly regarded — annual tradition in the culinary world has named the Osteria Francescana as the best eatery on the planet. While Modena, Italy’s Osteria Francescana won raucous applause for its win, last year’s winner – El Cellar de…
In order to win business from a Libyan investment fund set up under Gaddafi regime, Goldman Sachs bankers paid for prostitutes, private jets and five-star hotels and held business meetings on yachts. These were told to the high court in London on Monday. The Libyan Investment Authority has staged a claim for $1.2bn (£846m) from…
