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April 18, 2014
 Business:
 ASIA | US | EUROPE
 updated 1330 IST
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Business  
'Candy Crush' maker King makes IPO debut for $7bn valuation
3/26/2014 11:45:00 AM

Washington, Mar. 26 (ANI): Popular mobile game maker King Digital Entertainment PLC has reportedly headed for its public debut for an expected valuation of 7 billion dollars.

The maker behind 'Candy Crush Saga' sold its shares at 22.50 dollars, raising 344 million dollars for King and another 150 million dollars for early investors.

According to Fox News, the game maker and its shareholders sold 22.2 million shares and have granted underwriters the option to sell an additional

Facebook to buy virtual reality headset company Oculus in $2 bln deal
3/26/2014 10:01:00 AM

Washington, Mar. 26 (ANI): Facebook is buying the maker of the virtual reality headset, the Oculus Rift, for about two billion dollars in cash and stock.

The social networking company announced it has agreed to buy the virtual reality technology company Oculus VR.

According to CNET, Facebook said with the acquisition, it plans to extend Oculus' virtual reality capabilities beyond gaming into areas such as communications, media, entertainment and education.

Facebook CEO Mark

Apple wins another legal bout against Samsung in patent row
3/26/2014 10:01:00 AM

Washington, Mar. 26 (ANI): Apple has won another legal bout against Samsung in its ongoing patent row.

The move comes as Tokyo District Court Judge Koji Hasegawa ruled that Apple's iPhone 4S, iPhone 4, and iPad 2 did not infringe on patents held by Samsung related to data communications.

After the ruling, in a statement, Samsung said it will analyze the decision and possibly appeal it, addi The company added that it is disappointed with the court's ruling.

According to

Growth Net 2014 ends on an optimistic note for emerging economies
3/26/2014 12:21:00 AM

New Delhi, Mar.26 (ANI): The 2nd annual meeting of 'The Growth Net' ended with consensus on boosting cooperation among emerging economies in the areas of infrastructure development, capacity building, technology and good governance.

Concluding the meeting, thought leaders from Africa, Latin America, Asia and Europe unanimously shared their optimism on the growth potential in the developing markets despite the slowdown.

The Growth Net 2014 featured more than 100 speakers and

Zuckerberg defends $2bn Oculus acquisition just month after mega WhatsApp purchase
3/26/2014 12:21:00 AM

Washington, Mar. 26 (ANI): Facebook's recent mega billion purchases might have left a few jaws dropped, but CEO Mark Zuckerberg has insisted that it was an exception and not the rule.

The social networking giant recently purchased popular messaging service WhatsApp for a whopping 19 billion dollars and on Tuesday it announced acquisition plans of Oculus Rift for 2 billion dollars.

Defending his moves, Zuckerberg said that investors shouldn't think of Facebook to make multibillion-dollar

EC's order to defer gas price hike goes against govt.'s policy: CII
3/25/2014 7:06:00 PM

New Delhi, Mar.25 (ANI): The Confederation of Indian Industry (CII) on Tuesday expressed its concerns and reservations on the Election Commission's decision to defer the government's proposal on gas prices, and said that it would go against the stated government policy and adversely impact investment decisions of the oil and gas industry.

We would like to reiterate that it is only a computation decision where the formula is pre-fixed on the basis of a cabinet decision. The decision

Japan woos tourists
3/25/2014 5:04:00 PM

Tokyo, Mar.25 (ANI): Tokyo Marathon 2014 attracted many participants from Japan and across the world.

The annual citizen marathon, which starts from Tokyo Metropolitan Government building, has become one of the world's major marathons along with Boston, London, Berlin, Chicago and New York.

We came from Poland in Europe. The aim is to be at the world's six major marathons, said one participant.

Another said: We are here with 50 runners from Germany.

About 36,000

China's factory activity contracts for fifth straight month in March
3/25/2014 5:04:00 PM

London, March 25 (ANI): China's factory activity has reportedly declined for a fifth straight month in March, according to a new report released recently.

The HSBC Purchasing Managers' Index (PMI) fell to 48.1 for March from 48.5 in February, below the benchmark of 50, indicating further contraction.

According to the BBC, China's official PMI survey, weighted more towards bigger and state-owned enterprises, will be released later this month.

Meanwhile, China's exports

$7.2bn Nokia-Microsoft buyout deal to end in April
3/25/2014 4:09:00 PM

Washington, Mar. 25 (ANI): Nokia and Microsoft have reportedly announced that their buyout deal is expected to now end in April, instead of this March-end as speculated before.

The Finnish smartphone manufacturer is now expected to complete the sale of its devices and services divisions to Microsoft in the deal priced at 7.2 billion dollars.

According to The Verge, Nokia said that it was still waiting on regulatory approval from antitrust authorities in Asia.

Once the deal

Disney to buy top YouTube network Maker Studios for $500mn
3/25/2014 4:09:00 PM

Washington, Mar. 25 (ANI): Disney is reportedly set to purchase top YouTube network, Maker Studios, for a whopping 500 million dollars.

The acquisition is expected to provide Disney with additional technology and business intelligence to help it expand into the growing short-form video space.

According to Mashable, Maker has established itself as a top online-video network, with more than 55,000 channels, 380 million subscribers and 5.5 billion monthly views.

Executive chairman

China's 2014 GDP to grow at 7.5 pct: Economist at 'The Growth Net'
3/25/2014 3:42:00 PM

New Delhi, Mar.25 (ANI): Dismissing concerns over Beijing's first onshore default, Chinese economist Jianye Wang pegged China's GDP to grow at 7.5 percent in 2014-2015 while addressing a session at The Growth Net here today.

China's first onshore default has ignited debate over the increasing number of Chinese companies whose debt has doubled their equity in recent years. There are growing concerns among investors and policymakers with regard to huge size of shadow banking-estimated

Pope Francis tops Fortune's 'World's 50 Greatest Leaders' list
3/25/2014 2:37:00 PM

Washington, Mar. 25 (ANI): Pope Francis has topped Fortune Magazine's list of world's 50 greatest leaders.

The global list includes heads of state, nonprofit leaders, sports luminaries and CEOs.

According to the Washington Post, while Pope Francis tops the list, German Chancellor Angela Merkel took the second position.

Surprisingly, on the list that includes Pakistani girl shot by the Taliban, Malala Yousafzai, and Hollywood actor, Angelina Jolie, US President Barack

Mahindra, Mittal only Indians to make it to Fortune Magazine's greatest leaders list
3/25/2014 2:37:00 PM

Washington, Mar. 25 (ANI): Two Indian industrialists have reportedly made it to the coveted 'World's 50 greatest leaders' list compiled by Fortune Magazine.

Industrialists Anand Mahindra, who chairs Mahindra and Mahindra, and Laxmi Mittal, CEO Arcelor Mittal have been named amongst the top 50 leaders in the world at positions 40 and 48 respectively.

According to the Washington Post, the list includes heads of state, nonprofit leaders, sports luminaries and CEOs.

Pope

Pakistan postpones MFN status to India citing lack of consensus
3/25/2014 11:12:00 AM

Islamabad, March 25 (ANI): Pakistan Prime Minister Nawaz Sharif has reportedly announced that the decision to grant India the status of Most-Favoured Nation (MFN) has been put on the backburner for now.

Sharif said that India was showing reluctance when it came to resolving the Kashmir issue and proposed a third-party intervention for the same.

Sharif said that the decision to grant India the MFN status was postponed following lack of consensus, adding that he had directed his team

Google Glass set for Ray-Ban makeover
3/25/2014 12:54:00 AM

Washington, Mar. 25 (ANI): Google has reportedly signed a deal with the eyewear manufacturer credited with brands like Ray-Ban and Oakley, for its hi-tech wearable gadget, Glass.

The partnership with Luxottica is set to take Google Glass to a new level altogether, as it would help the search giant to design and produce an exclusive collection of eyeglass frames that incorporate the technology.

According to The Verge, the deal would be limited to the US market and focus on Ray-Ban

Indian origin US CTO Aneesh Chopra becomes co-founder of private company
3/25/2014 12:26:00 AM

Washington, Mar. 25 (ANI): The first Indian Origin chief technology officer for the US, Aneesh Chopra, is now reportedly the co-founder of an Arlington-based data and analytics company.

Chopra, who stepped down to run an unsuccessful campaign for lieutenant governor of Virginia, became the co-founder Hunch Analytics, which was founded last October and aims at crunching public and private data to help executives and industry leaders in health care, education and energy to make smarter business

CII Annual Session to outline vision for India
3/24/2014 3:40:00 PM

New Delhi, Mar.24 (ANI): The annual session and national conference 2014 of the Confederation of Indian Industry (CII), is being held on March 26 and 27, and is centered around the theme of 'Managing Change: Role of Leadership and Institutions'.

The objective is to introspect on the transitions our nation is undergoing, the roles of leadership and institutions, the vision we should outline and the paths that we must take to build a strong, empowered and secure India.

Coming

Bill Gates Foundation collaborates with Indian researchers to solve global sanitation crisis
3/24/2014 3:40:00 PM

Washington, Mar. 24 (ANI): Bill and Melinda Gates Foundation in collaboration with India's Biotechnology Industry Research Assistance Council (BIRAC) is reportedly aiming at solving the global sanitation crisis, which is impacting billions of lives each year.

'Reinvent the toilet fair,' held in New Delhi, showcased innovative ideas like solar-powered electronic toilets, a prototype that helps recharge mobile phones from urine, and one that could potentially offer advertising

Apple in talks with Comcast for high quality TV streaming
3/24/2014 12:13:00 AM

Washington, Mar. 24 (ANI): Apple is reportedly in talks with Comcast to strike a deal for a high quality TV streaming.

This comes a month after it was reported that the tech giant was in negotiations with Time Warner Cable for a new Apple TV set-top box.

According to Deadline.com, Apple's potential pact with Comcast would ensure faster streaming to Apple users through the 'last mile' channel of internet traffic separate from Comcast's public web access, delivering high

Energy security, infrastructure to power India's eight percent growth rate aim: Ahluwalia
3/24/2014 12:13:00 AM

New Delhi, Mar.24 (ANI): Addressing the opening session of The Growth Net 2014 on Sunday evening, the Deputy Chairman of the Planning Commission, Dr.Montek Singh Ahluwalia, stressed that an eight per cent growth rate was achievable by accelerating key infrastructure projects and reviewing energy pricing.

Dr Ahluwalia was speaking at the official launch of The Growth Net 2014-a three-day global conclave co-convened by Ananta Centre (formerly part of Aspen Institute India) and Smadja and

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