08292016Mon
Last update: Mon, 29 Aug 2016 01pm

Business & Finance - Industries & Sectors

Data sharing with Facebook lands WhatsApp in trouble The cross platform messaging service WhatsApp, is in hot waters after its decision to share user data with parent Facebook, met with criticisms form the privacy groups.These groups have decided to take the matters in their own hand and have decided to lodge a complaint against the messaging giant. The privacy group called the Electronic Privacy Information Center (EPIC) is of the view that that Facebook and WhatsApp have violated the user privacy commitment promised back in 2014, reported Hot Hardware.The group is planning to file a complaint for allegedly violating the Federal Trade Commission (FTC) act.In a letter to FTC, EPIC states: “WhatsApp's privacy policy clearly states, among other things, that users' information will not be used for advertising purposes or sold to a third party for commercial or marketing use without the users' consent. Facebook's purchase of WhatsApp would not nullify these promises and WhatsApp and Facebook would ...


Business & Finance - Managed Funds

JGBs sag on lacklustre BOJ operation outcome, weaker Treasuries TOKYO: Japanese government bond prices slipped across the board on Monday, with lacklustre results for the Bank of Japan's regular debt-buying operation and a retreat by Treasuries weighing on the market.The benchmark 10-year JGB yield was up 1 basis point at minus 0.065 percent and the 30-year yield rose 3 basis points to 0.375 percent.Yields rose after the BOJ's offer to buy 320 billion yen ($3.13 billion) of 10-year to 25-year JGBs indicated relatively strong ...

Business & Finance - Industries & Sectors

China oil giant Sinopec net profit dives over 20pc SHANGHAI: Chinese oil giant Sinopec, Asia's biggest refiner, saw its first half net profits drop 21.6 percent, it said, hit by low oil prices.The company made 19.92 billion yuan ($2.98 billion) in the January to June period, compared with 25.42 billion yuan in the same period last year, according to a statement to the Hong Kong stock exchange, where it is listed."In the first half of 2016, international crude prices recorded a sharp decline from ...

Business & Finance - Industries & Sectors

China to rein in aggressive acquisitions by insurers BEIJING: China's insurance regulator will limit the funding avenues for insurers to take stakes in other companies, in an effort to crack down on aggressive acquisitions, financial news outlet Caixin reported on Saturday, citing anonymous industry sources. The China Insurance Regulatory Commission (CIRC) will require insurers to report any large stakes they hold in other companies and apply for permission before undertaking any significant market activity which may lead to a take-over of a listed ...

Business & Finance - Banking & Finance

Deutsche Bank sells off Argentine unit to local rival FRANKFURT: Germany's biggest lender Deutsche Bank on Friday said it would sell its Argentine subsidiary to local Banco Comafi as part of its strategy plan to streamline business abroad.The sale of the unit, which employs 86 people, is expected to close in the first half of 2017, Deutsche Bank said in a statement, adding that government, corporate and institutional clients in Argentina would continue to be served via the bank's regional and global locations.As part ...

Business & Finance - Banking & Finance

Philippine central bank says does not have to move in sync with Fed MANILA: The Philippine central bank's policy decisions do not have to move in sync with the US Federal Reserve's action, its governor said on Saturday, as he reiterated the country's inflation outlook continues to be manageable. Bangko Sentral ng Pilipinas Governor Amando Tetangco made the comments after Fed Chair Janet Yellen told a global monetary policy conference in Jackson Hole, Wyoming, that the case for a rate increase had grown stronger, and Fed Vice Chair ...

Business & Finance - Industries & Sectors

ENI shuts production, evacuates staff from Arctic oil platform due to power loss OSLO: Oil firm ENi had to shut down production late on Friday at its Goliat platform in the Barents Sea off Norway and partially evacuate staff from the facility due to a power loss, the firm said on Saturday. "The Goliat FPSO lost all power from shore ... and the production was stopped. In accordance with standard procedure, the decision was made to send non-essential personnel to shore," ENI said in a statement."When the power ...