Asia Bizz

Unemployment Rate Reaches New High At 9.6%, US Economy Still In Bad Shape

Freddie — Fri, 03 Sep 2010 13:34:22 +0000

Asia Bizz: Unemployment Rate Reaches New High At 9.6%, US Economy Still In Bad Shape

The US unemployment situation seems to be worsening by the day, as today the figures showed that the unemployment rate has reached a new high at 9.6%. This an increase in the unemployment rate in the US for the first time in four months. According to the experts, if there is no more sufficient job creation in the US, then the unemployment rate will touch 10% by the first quarter of the next year.

Statistic are showing that the unemployment rate is still unable to recover from the last year’s terrible recession. Business concerns will be hiring people on jobs, only if they feel confident of the economy, but the rate of growth in the economy of the US is really very slow.

During the last month, US was able to provide only 67,000 jobs but then it eventually last some 54,000 jobs. Home sales in the US still stayed weak, even when there were loan program’s and schemes devised by the US government. The jobless claims for the month fell to 472,000, and this was the only good sign for the US economy.

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Mozambique Cool’s Down After Two Days Of Intense Food Riots

Freddie — Fri, 03 Sep 2010 13:07:42 +0000

Asia Bizz: Mozambique Cool’s Down After Two Days Of Intense Food Riots

The African country of Mozambique has cooled down after experiencing two days of intense food riots. The government has said that it has lost more than $3 million in the two days of riots in the country. These riots took place in protest over the increasing food price rise in the country.

The riots have cost the government really badly and reports state that most of the damages included in the $3 million loss, are property and stopped production work. Antonio Fernando, Minister of Trade and Industry in Mozambique, has said that most hardest hit people are the hawkers who earn their daily living by selling on the local streets.

The protests and the riots in the country had taken a deadly toll, as the people were pelting stones on the police and damaging property. Worse was when the crowd started to burn tires and then looted shops in the commercial areas. During the protests, some seven people have been killed and many have been injured. Friday looked more normal in Mozambique than the two days of violence.

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New Delhi Metro Line 3 Has Officially Been Opened

Freddie — Fri, 03 Sep 2010 11:55:44 +0000

Asia Bizz: New Delhi Metro Line 3 Has Officially Been Opened

New Delhi is indeed taking its development seriously and one of the really good examples on which Delhi proud on is the New Delhi Metro. The line 3 of the New Delhi Metro has officially been opened to the public. The new line route is between the Central Secretariat and Qutub Minar. The line was inaugurated by the New Dehli Chief Minister, Mrs. Sheila Dixit.

After the launch of the Line 3, South Delhi has entered the map of the Delhi Metro, it now passes through, Jor Bagh, AIIMS, Green Park, Hauz Khas, Saket and Vasant Kunj. And in addition to this, the travel time from Delhi to Gurgaon is just little over 45 minutes.

The length of the new line from Central Secretariat to Qutub Minar is 12.53 kms, and has a total of nine under ground sub stations. The actual launch date was planned in the month of August, but due some problems it was delayed to September.

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Apple TV Can Help Netflix Grow Steadily In The Market

Freddie — Fri, 03 Sep 2010 09:30:51 +0000

Asia Bizz: Apple TV Can Help Netflix Grow Steadily In The Market

Apple TV will help Netflix grow steadily in the market as the service of video streaming is available on the new Apple TV. Viewers will be able to watch and stream videos on the web through Apple TV by using the Netflix service. As a result of which there was great appreciation to Netflix in the share market, as its shares had reached an all time high.

The merger with Apple to provide the service for viewing rental movies from the web to TV, will help Netflix dominate this particular market. As per analysts, Apple will be selling more than 1.5 million units of the Apple TV by 2011. Analysts state that these companies have now become the top web to tv and online movie rental big shots in the market.

Netflix shares went really high, to $137. 93 on the Nasdaq index. Netflix has actually become very flexible and has increased the number of movies and shows that it will rent out to the viewers, so this will really be a good opportunity for Netflix to cement its growth factor with Apple.

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China Warns Depreciation On Its Huge Foreign Dollar Reserve

Freddie — Fri, 03 Sep 2010 08:02:28 +0000

Asia Bizz: China Warns Depreciation On Its Huge Foreign Dollar Reserve

On Friday, economic giant China, showed a small glimpse of its huge dollar foreign reserve and has stated that it has a reserve that is seriously very big and that this giant reserves of foreign cash could face depreciation in the future. The total figure of China’s stockpile of foreign reserves is $2.45 trillion.

It has been described to hold a global average of: 65% of dollars, 26% of euros, 5% of Pounds and 3% of foreign yen. It has been a big global secret to the economic world, that what was the foreign reserves total with the Chinese government, and experts had believed that two thirds of their investments were done in dollars.

What has happened now is very shocking to the global economy, China stated that depreciation looks viable on the stockpile of foreign reserves in a developing country, and specially when a certain currency becomes very unstable, depreciation on it is a smart move. Because an unstable currency is a risk to its foreign assets, in this case its the dollar.

Experts from a Chinese magazine stated that “A diversified international currency system will be more conducive to international economic and financial stability”

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3Par Race Heats Up, HP Raises Bid Price To $2.1 Billion

Freddie — Thu, 02 Sep 2010 14:10:46 +0000

Asia Bizz: 3Par Race Heats Up, HP Raises Bid Price To $2.1 Billion

HP has determined itself that it wants to take over the data storage company 3Par. The bid price has risen to $2.1 billion and HP wants to be a safe way ahead of Dell in the acquisition of 3Par. The share price for the take over too has gone up, to $33 a share and will be staying that way.

The race in the acquisition has heated up from the past two weeks when Dell showed its interest that it want to take over 3Par at a price of $1.2 billion. HP later stepped in and placed a bid higher to Dell, since then Dell and HP are in a war to take over 3Par.

3Par will be a great boon for any of the company’s, as it will be, first of all providing sufficient space for data storage and in addition to that, both HP and Dell are looking forward to place itself in the world of cloud computing. So the main essence to cloud computing is having enough data storage facility, which can be provided after taking over 3Par. As far as the acquisition looks from here, HP is way ahead now.

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Interbank Euro Lending Rates Fall Ahead Of ECB (European Central Bank) Meeting

Freddie — Thu, 02 Sep 2010 12:50:50 +0000

Asia Bizz: Interbank Euro Lending Rates Fall Ahead Of ECB (European Central Bank) Meeting

The Interbank Euro lending rates fell just ahead of the European Central Bank’s meeting for the scheme of providing unlimited fixed rates loan. The rates fell even after the Central Bank was expected to keep the rates stabilized at a record low of 1%. The provision of loans to the weaker euro zones remained high even though the bank is unwilling to provide long term loans at a low rate.

The fear which has risen now is that another jilt of a global economic slow down will hit the weak euro zones really hard. This may make the Central bank halt its exit from the provisions of unlimited loans to 2011.

The Euro economy was showing some signs of recovery but then the weaker economies in the euro zone are the main concern. The strong countries need to work a proper monetary plan to bring the whole European economy back on track once more.

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The Samsung Galaxy Tab Unveiled, Direct Contender To The Apple iPad

Freddie — Thu, 02 Sep 2010 09:29:00 +0000

Asia Bizz: The Samsung Galaxy Tab Unveiled, Direct Contender To The Apple iPad

The new Samsung Galaxy Tab has been unveiled by Samsung and by no doubts it is indeed a strong contender to the Apple iPad. The Galaxy Tab was unveiled at the IFA show and has a host of features that can be going one on against the Apple iPad. It is a 7 inch Tablet and runs on an Android 2.2 FroYo.

It is really unbelievable that it can make and receive both voice and video calls, send and receive SMS/MMS/Emails. Its indeed a fully functioning phone and a tablet too, which will be available on PAYG by October.

First of all its a proper E Reader, and comes with ‘Readers Hub’, which provides one to download thousand of books and magazines from the web. Plus it comes with the Music Hub by 7Digital, which helps a person to download great music. The it comes with a 16GB and 32GB option, with a 3 mega pixel camera with a flash in the rear and a front facing camera for video calls.

As it is powered by the latest Android 2.2, it comes equipped with the Google Navigation, Google Goggles and an inbuilt GPS, so even on the move u cannot get lost when the tab is with you. It runs all the Office tools plus email clients and can serve one as a small PC. The final conclusion is its better than the iPad and is worth it, as it is a total package built by Samsung called the Galaxy Tab.

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Samsung Galaxy S Sales Skyrocket, Takes Strong Advantage For Apple Downfall

Freddie — Thu, 02 Sep 2010 07:56:04 +0000

Asia Bizz: Samsung Galaxy S Sales Skyrocket, Takes Strong Advantage For Apple Downfall

The Samsung Galaxy S smartphone sales have skyrocketed in the US, as sales figures have touched 1 million in just 45 days. Apple had sold some 1.7 million units in the first weekend of the launch but then according to the experts the Samsung shipment figures are just the initial figures compared to Apple unit sales. This is just the beginning of a strong Android market in the US.

According to Jack Gold, an analyst at the J. Gold Associates stated that it is clear that Android will be overtaking Apple in sometime in the future, may by 2011 the Samsung sales will surpass Apple well easily. The reason is that, the customers have found a better alternative than the Apple, and more over it costs less.

The Samsung officials stated that it has sent out large shipments, not sales, there is a difference here. But according to the experts if the shipments are meant to go straight to the retailers then it means that there will be quick sales. From what it looks now, is that the Android will be overtaking the US market in some and this is indeed bad news for Apple inc.

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Apple Press Conference Announcement Of iTunes 10, iPod Touch 4th Generation And Apple Tv

Nicholas — Wed, 01 Sep 2010 21:42:00 +0000

Asia Bizz: Apple Press Conference Announcement Of iTunes 10, iPod Touch 4th Generation And Apple Tv

At the Apple Press conference Apple CEO Steve Jobs had a lot to talk about the company coming out with so many new things. One that we are going to talk first is about the iTunes 10, this will be a big upgrade to Apple’s music jukebox, now in addition will be a lot of social networking which will help users discover new music.

The feature will be called ping and will help Facebook as well as Twitter come together will iTunes. The main aspect that this will introduce is that artists can interact with all their fans with the artists Tunes Store page.

This will help artists as well as fans with qualities from concert listings to purchasing albums online. iPhone and iPod both will have this new feature ping and will show up in the iTunes Store app.

iTunes 10 will be on free download from today onwards on Apple.com and iTunes.com

The iPod Touch 4th generation is one step ahead with many new features and a better product and a much improved display.

Another main product to talk about was the Apple Tv, the Apple Tv cost just $100 along with television and movies on your finger tips one stream Netflix.