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July, 30, 2016

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Business
Online giant Amazon said Thursday profit in the second quarter surged ninefold as cloud computing and other services helped produce a fifth consecutive profit.
 
The pharmaceutical arm of Chinese conglomerate Fosun plans to buy a majority stake in India's Gland Pharma Ltd. for as much as US$1.26 billion, in what is being touted as the biggest Indian acquisition by a Chinese company.
 
World oil prices descended this week to their lowest levels for more than three months, rocked by renewed worries about a global supply glut and increased production.
 
Apple of your eye
A display of protective covers hangs in a new Apple Store in Williamsburg, Brooklyn, New York, Thursday, July 28.
 
Global steel giant ArcelorMittal on Friday posted a sharp US$1.1 billion increase in second quarter profits, driven by rising steel prices and a one-off gain from a deal at its U.S. subsidiary.
 
Innolux Corp. (群創), one of Taiwan's leading flat panel makers, said Friday that its results for the second quarter of this year improved, with a net loss narrowing from a quarter earlier at a time when large-sized screen prices have been recovering due to rising demand.
 
Mainland China legalizes ridesharing services
Mainland China on Thursday announced new rules governing ridesharing services, making clear for the first time that they are now legal in a giant market where U.S.-based Uber is at loggerheads with local rival Didi Chuxing.
 > China
 
Facebook on Wednesday reported a huge quarterly profit jump fueled by strong growth in revenues and its global user base, powering shares higher for the top social network.
 
Fed keeps rates steady but increase may be coming
The Federal Reserve left key interest rates untouched Wednesday but acknowledged improved economic performance, suggesting a rate increase may still be on the horizon in 2016.
 
Turkey sees over 40% drop in visitors amid security crisis
The number of foreigners visiting Turkey dropped over 40 percent in June to its lowest level this year as the impact of attacks and previous tensions with Russia caused havoc for the vital tourism industry, statistics showed Thursday.
 
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