Cheil Industries Inc., the de facto holding company of Samsung Group (005930), plans to start gauging demand next week for an initial public offering in South Korea, people with knowledge of the matter said. The theme park operator’s share sale may raise about $1.5 billion, the people said, asking not to be identified because the information is private. The IPO would be the country’s biggest in more than four years, according to data compiled by Bloomberg.
Updated 5 Years ago

Tesla Motors Inc. (TSLA) car owners in Shanghai can register their electric vehicles for free after the city exempted them from paying $12,000 for a license plate. About 400 Tesla owners in Shanghai have received the free plates as part of the city’s efforts to promote the adoption of new-energy vehicles, according to Ma Jing, a vice director of the municipal government’s economy and information commission. Tesla owners also get free license plates in Hangzhou and the automaker is in contact with other cities to get exemptions, said Richard Lan, a Beijing-based company official.
Updated 5 Years ago

Samaritans Radar uses an algorithm to identify key words and phrases which indicate distress. They include "tired of being alone", "hate myself", "depressed", "help me" and "need someone to talk to." Users who have signed up for the scheme will receive an email alert if someone they follow tweets these statements.
Updated 5 Years ago

Samaritans Radar uses an algorithm to identify key words and phrases which indicate distress. They include "tired of being alone", "hate myself", "depressed", "help me" and "need someone to talk to." Users who have signed up for the scheme will receive an email alert if someone they follow tweets these statements.
Updated 5 Years ago

New Zealand came second and Hong Kong third in the lender's "Doing Business" report which rates 189 nations by the ease in which firms can operate there. The UK moved up one position to eighth while the US stayed at number seven.
Updated 5 Years ago

Manufacturing output in the world's third-largest economy rose by 2.7% in September from a month earlier, beating forecasts for a 2.2% rise. The regional benchmark MSCI Asia Pacific Index rose by 0.4% in Tokyo, marking its fourth day of gains.
Updated 5 Years ago

Shares in the social network fell almost 10% in after hours trading after it said expenses would be up to 75% higher next year. The warning came after it reported third quarter revenues of $3.2bn (£1.98bn) well ahead of analysts' forecasts.
Updated 5 Years ago

High energy costs in Germany are pushing businesses to move production abroad, with BASF, the world’s largest chemical company, announcing it won’t be expanding its business domestically, but instead investing in other countries. According to the German Chamber of Commerce, one quarter of businesses involved in heavy industry is thinking about reducing production in Germany.
Updated 5 Years ago

For the first time in the 20-year history of the Nigerian film industry, better known as Nollywood, there is a calculated move by National Broadcasting Commission (NBC) to leverage the value premium the industry can add to the national treasure. The recent announcement of a major working relationship between the entertainment and broadcast environment in Nigeria is part of the move. Nollywood has garnered a good reputation in the last two decades as the leading product that projects Nigeria’s image to the outside world. The industry is estimated to worth over $250 million with a production capacity of over 200 home videos monthly. In recent times also the Nigerian government has acknowledged the commercial viability of Nollywood, first, through a N3 billion grant from President Goodluck Jonathan and being recognised as a critical factor in the rebasement of Nigeria’s economy.
Updated 5 Years ago

Chi Limited has introduced three new variants of Hollandia Yoghurt in addition to existing variants in the market. The new variants: ‘Green Apple,’ ‘Orange’ and ‘Pure and Plain’ are expected to cater to a growing demand for dairy products in general and yoghurt in particular. According to the company, the new variants will widen consumers experiences of Hollandia Yogurt, which they love because it has a rich mouthfeel and a balanced flavour. Some consumers say the new lowfat yogurts are excellent for taste. Hollandia Yoghurt is not only healthy and fulfilling, but a real delight to consumers. The variants come in 1 litre, 500ml and 250ml tetra paks.
Updated 5 Years ago