Daily Archives: August 17, 2013

China July month-on-month home prices slow for fourth month

BEIJING (Reuters) – China’s monthly property inflation moderated for a fourth straight month in July, although annual gains were the strongest this year, complicating policymakers’ task of trying to cool the sector without stifling growth elsewhere. read more

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Violent protests force BASF to close Egyptian operations

Egypt: German chemicals group BASF has announced shutting down it closed its operations in Egyptian on Thursday, due to the violent political protests in the country, Reuters has reported. BASF has about 100 employees based in Egypt, with offices in Alexandria and Cairo and a plant producing construction chemicals in Sadat City. “The safety of our employees has top priority. We are observing the situation carefully. All our employees are fine,” said BASF. [AMEInfo.com]

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Turkey's Yildiz Holding stops production in Egypt

Egypt: Turkish manufacturer of food products, Yildiz Holding has suspended production in its Hi Food factory in Egypt to protect its 910 employees against recent curfew in the country, Anadolu has reported. Opened in 2009, Hi Food produces biscuit for Middle East, North and West African countries, the firm said. [AMEInfo.com]

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Saudi-Egyptian Business Council seeks to revive troubled Saudi investments in Egypt

Egypt: The Saudi-Egyptian Business Council is set to begin negotiations with the Islamic Development Bank (IDB) to finance Saudi investment projects that have been stalled recently period in Egypt, Arab News has reported. “Despite solving the issues stalling the operations of 14 out of 24 projects under the previous government, the council faces uncertainty about the applicability of such solutions under the new government, after the departure of ousted President Muhammed Mursi and his government,” said head of the council, Abdullah Bin Mahfouz. [AMEInfo.com]

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Egypt's political, economic crisis 'nearly wiped out' GB Auto profits

Egypt: Egypt’s largest-listed vehicle assembler and distributor GB Auto has said its second quarter net income was nearly wiped out by the pound’s decline and warned about the impact on full year results of political and economic turmoil, Reuters has reported. The country’s sole dealer of Hyundai and Mazda passenger cars said net income tumbled by nearly 73% to EGP16.1m, while sales revenue shrank by 0.5% to EGP2.17bn, compared with the second quarter of 2012. “I believe we have absorbed 90% of the impact of devaluation to-date of the Egyptian pound on our business, and we have taken almost all of this blow in the second quarter,” chief executive Raouf Ghabbour said. [AMEInfo.com]

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Malaysia calls for postponing students travel to Egypt

Egypt: Malaysian defence ministry has asked private firms, who are sponsoring new students to pursue higher education in Egypt, to postpone sending the students to ensure their safety in view of the developments there, Bernama has reported. “I call on the private companies who are providing the sponsorship not to send our students quietly just for the sake of making profit because I know there are 200 students who have arrived in Egypt despite being instructed not to go yet,” the ministry said. [AMEInfo.com]

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Redox Power Plans To Roll Out Dishwasher-Sized Fuel Cells That Cost 90% Less Than Currently Available Fuel Cells

Redox Power Systems, a Fulton, MD-based start-up company founded last year, sealed the deal on a partnership with researchers at the University of Maryland to commercialize a potentially game-changing distributed generation technology.

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Double Up On Happiness And Meaning With Others

In the longest study of what led men to live happily and successfully to a ripe old age, guess what trait they were most likely to have in common?  The lives of 268 men who entered Harvard College in 1937 were tracked for seventy-two years in The Harvard Study of Adult Development.  Those who made it into middle and old age as “happy” and “healthy” shared seven traits: mental adaptability to changes in life, advanced education, stable marriage, not smoking, not abusing alcohol, getting some exercise, and maintaining a healthy weight.

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Apple Fingers Payment Revolution

It was an innocent enough remark but it triggered a storm of outrage: Earlier this week, New York mayor Mike Bloomberg advanced the idea of using fingerprint-based locks in public housing buildings, generating a storm of outrage from candidates seeking to replace him.

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Wall Street Week Ahead: Undervalued euro shares a hurdle for U.S. stocks

NEW YORK (Reuters) – After Wall Street’s biggest weekly decline since June and the worst week this year for the Dow average, investors will be searching for a rebound. But the best gains may not be at home as investors take notice of an improved outlook in Europe. read more

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JPMorgan hiring in China under U.S. scrutiny: report

(Reuters) – U.S. authorities have opened an investigation into whether JPMorgan Chase & Co hired the children of powerful Chinese officials to help it win business in China, the New York Times said on Saturday. read more

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Cloud Service Architecture Will Power New Era Of Intelligent, Automated Applications

Clouds

Editor’s note: Pete Sonsini is the general partner at New Enterprise Associates. Follow him on Twitter @psonsini.  read more

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CrunchWeek: BlackBerry Puts Itself In Play, Google's Geeky Easter Eggs, Mobile Ad M&A

tc-crunchweek

The great thing about CrunchWeek is that when a few of us writers gather to muse about the most interesting stories from the past seven days in tech news, it’s never the same thing twice. It’s like the special unique snowflake of TechCrunch TV! read more

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DO-RA Is An Environmental Sensor That Plugs Into Your Phone & Tracks Radiation Exposure

DO-RA_uni

There’s a thriving cottage industry of smartphone extension hardware that plugs into the headphone jack on your phone and extends its capabilities in one way or another — feeding whatever special data it grabs back to an app where you get to parse, poke and prod it. It’s hard to keep track of the cool stuff people are coming up with to augment phones — whether it’s wind meters or light meters or even borescopes. Well, here’s an even more off-the-wall extension: meet DO-RA — a personal dosimeter-radiometer for measuring background radiation. read more

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