$20.3 million was raised in an investment round led by Samsung’s investment fund by Afero, a start-up that describes itself as the “nervous system” sitting in the middle of the internet of things (IoT) world. The investment which was led by Samsung Catalyst fund, and joined by Presidio Ventures, Sanshin Electronics, SoftBank, Fenox Venture Capital,…
Aiming to pave the way for two rival liquefied natural gas projects led by global majors to work together in Papua New Guinea, Australia’s Oil Search Ltd agreed a $2.2 billion deal to acquire InterOil Corp. Thanks to its high quality gas and low costs PNG is considered one of the best locations for LNG…
As Samsung looks to expand its footprint in the world’s second-largest economy, the South Korean company has struck a partnership with Alipay, China’s biggest payments service that is run by Alibaba affiliate Ant Financial. Alipay at resent is placed as a separate app on devices. When a customer goes to pay for something in-store, they have…
In order to meet strong demand for the electric car maker’s upcoming Model 3 sedan, Panasonic Corp is prepared to move up its investment plans for Tesla Motors Inc’s battery plant, an executive at the Japanese electronics group. “We will do our best to move up the schedule if requested,” Yoshio Ito, head of Panasonic’s…
As the U.S. tech titan – Apple, stumbles in its biggest offshore market – China, security of its users were stressed by the head of China’s industry and technology regulator in a meeting with Apple Inc’s chief executive in Beijing. Having faced by a flurry of problems in China, from weakening smartphone sales to the…
Following security problems and threats of terrorism, the travel sector has had to “completely remix” its vacation destinations, reports CNBC quoting officials from one of Europe’s biggest tour operators. In the recent years, concerns over security issues and terrorism have badly hit the tourism industry. Spain and the Caribbean have now become the preferred tourist…
In a widening of a scandal that has already engulfed Mitsubishi Motors, Suzuki Motor Corp said it had used improper fuel economy tests for its cars in Japan but that proper testing subsequently had shown the mileage data did not need amending. Taking responsibility for a major fuel economy scandal, the President of Mitsubishi, Tetsuro…
A Finnish company, HMD Global Oy, will now create Nokia-branded phones and tablets and such phones and tablets would be manufactured by a subsidiary of Taiwan’s Foxconn. An exclusive 10-year licensing deal with the Finnish company has been signed by Nokia , the company said. Nokia had to sell off its entire handset business to…
A start-up aimed at making existing trucks on the road driverless has been launched by a group of former senior Google employees. Aimed to bring disruption to the long-haul trucking industry, Otto, which came out of stealth mode on Tuesday, presents a different aspect to driverless automobiles even as companies from Google to Tesla are…
The equivalent of $120 million in digital currency has been raised by an automated business run on computer code, with no human input beyond its anonymous backers. The vehicle, called The DAO, in an embodiment of an advanced idea which are automatic companies that operate without managers or boards of directors, making them the purest…
