Europen Central Bank help to ease the economic crisis

The president of the European Central Bankgave a guardedly upbeat assessment of the situation in the euro zone Thursday, saying that troubled countries had made"significant progress" remaking their economies and that the banking system was healthier. "So, not bad," Mario Draghi said, with an airof distinct satisfaction, at a press conference in the Slovenian capital of Ljubljana following a meeting ofthe bank's governing council. But, perhaps wary of seeming too optimisticand encouraging complacency by elected officials, he added that the state ofthe euro zone remained tenuous. Early this year, Mr. Draghi also called a turning point in the crisis, only to see tensions return with a vengeance later on.After a period of intense activity to calm the euro zone crisis, the E.C.B. had not been expected toannounce major newpolicy actions Thursday. And, as expected, the bank left its benchmark interest rate at a record-low 0.75 percent. Instead, the focus hasbeen on elected leaders, and particularly whether Spain will meet conditions for the E.C.B. to start buying its bonds as a way of restarting bank lending in the country. Mr. Draghi asserted that the E.C.B.'s promise to buy bonds in so-called Outright Monetary Transactions had"helped to alleviate tensions" in the markets. He added that the bond purchases, oncethey begin, "will enable us to provide, under appropriate conditions, a fully effective backstop to avoid destructive scenarios with potentially severe challenges for price stability in the euro area."

Google and Apple maps

Apple and Google have collided in a heated battle for the smartphone market. Apple has been takinga lot of heat for launching a maps appthat critics complain doesn't feel complete. Apple dropped Google Maps from iOS6 in favor of its own Apple Maps app. Google Maps had been a default on the iPhone since its initial release in 2007. The company faces overwhelming criticism and even ridicule for the imperfections of AppleMaps. Following the update, users complained of getting lost, not seeinglandmarks and the lack of directions on public transportation. Apple's chief executive officer Tim Cook released an apology to customers that are frustrated withApple Maps. "With the launch of our new Maps last week, we fell short on this commitment. We are extremely sorry forthe frustration this has caused our customers and we are doing everything we can to make Maps better," Cook said in the letter published Friday on Apple's website. Google, on the other hand, may be benefiting from the rare Apple flub by launching several updates to Google Maps. The search giantannounced Friday thatit improved aerial andsatellite imagery for 17 cities and 112 countries or regions. On Tuesday, Google took street view underwater and unveiled stunning images of the Great Barrier Reef. Speculation persists that Google is workingon an iOS 6 app, although Google executive chairman Eric Schmidt has said the company is not working on a Google Maps app for iOS 6. If Google chooses to keep Google Maps as an exclusive feature on Android phones, it could give the company an edge over Apple. Forbes contributor Chunka Mui posits that by depriving Apple fans of Google Maps, it would push users to Android devices. "Upping the bet to make Google Maps exclusive to Android would increase Google's chances in the escalating war for mobile device dominance," Mui writes. The competition between Apple and Google is nothing new. Google launchedits mobile operating system Android in 2008, heating up the competition between the two companies. Apple's late co-founder Steve Jobsfamously said to his biographer, "I'm going to destroy Android, because it's astolen product. I'm willing to go thermonuclear war onthis." Although the move tolaunch an imperfect version of Apple Maps has irked critics, the company has bounced back from mistakes in the past. Apple has faced widespread complaintsfollowing a new product release. Soon after the iPhone 4 waslaunched in 2010, users complained of frequent dropped calls. The incident wascoined "antennagate" and the computer giant's late CEO Steve Jobs held an event explaining the issue and offered a solution in the form of free cases. This time around, Cook has instructed users to download other map apps while Apple works to improve Apple Maps. While the solution is puzzling to many, the company is at the very least attempting to make amends with frustrated fans. Two years after"antennagate" the iPhone is still breakingrecords. The iPhone 5 was sold out over its first weekend, raking in 5 million in sales. History suggests that Apple will recover from what people are calling "mapplegate." As Forrester Research analyst Sarah Rotman Epps said in a blog post: "consumers and journalists seem to expect perfection from Apple. But like any company attempting to innovate in this highlycompetitive consumertech market, Apple is not infallible - there's a map for that."

Google and Apple maps

Apple and Google have collided in a heated battle for the smartphone market. Apple has been takinga lot of heat for launching a maps appthat critics complain doesn't feel complete. Apple dropped Google Maps from iOS6 in favor of its own Apple Maps app. Google Maps had been a default on the iPhone since its initial release in 2007. The company faces overwhelming criticism and even ridicule for the imperfections of AppleMaps. Following the update, users complained of getting lost, not seeinglandmarks and the lack of directions on public transportation. Apple's chief executive officer Tim Cook released an apology to customers that are frustrated withApple Maps. "With the launch of our new Maps last week, we fell short on this commitment. We are extremely sorry forthe frustration this has caused our customers and we are doing everything we can to make Maps better," Cook said in the letter published Friday on Apple's website. Google, on the other hand, may be benefiting from the rare Apple flub by launching several updates to Google Maps. The search giantannounced Friday thatit improved aerial andsatellite imagery for 17 cities and 112 countries or regions. On Tuesday, Google took street view underwater and unveiled stunning images of the Great Barrier Reef. Speculation persists that Google is workingon an iOS 6 app, although Google executive chairman Eric Schmidt has said the company is not working on a Google Maps app for iOS 6. If Google chooses to keep Google Maps as an exclusive feature on Android phones, it could give the company an edge over Apple. Forbes contributor Chunka Mui posits that by depriving Apple fans of Google Maps, it would push users to Android devices. "Upping the bet to make Google Maps exclusive to Android would increase Google's chances in the escalating war for mobile device dominance," Mui writes. The competition between Apple and Google is nothing new. Google launchedits mobile operating system Android in 2008, heating up the competition between the two companies. Apple's late co-founder Steve Jobsfamously said to his biographer, "I'm going to destroy Android, because it's astolen product. I'm willing to go thermonuclear war onthis." Although the move tolaunch an imperfect version of Apple Maps has irked critics, the company has bounced back from mistakes in the past. Apple has faced widespread complaintsfollowing a new product release. Soon after the iPhone 4 waslaunched in 2010, users complained of frequent dropped calls. The incident wascoined "antennagate" and the computer giant's late CEO Steve Jobs held an event explaining the issue and offered a solution in the form of free cases. This time around, Cook has instructed users to download other map apps while Apple works to improve Apple Maps. While the solution is puzzling to many, the company is at the very least attempting to make amends with frustrated fans. Two years after"antennagate" the iPhone is still breakingrecords. The iPhone 5 was sold out over its first weekend, raking in 5 million in sales. History suggests that Apple will recover from what people are calling "mapplegate." As Forrester Research analyst Sarah Rotman Epps said in a blog post: "consumers and journalists seem to expect perfection from Apple. But like any company attempting to innovate in this highlycompetitive consumertech market, Apple is not infallible - there's a map for that."

South Korea’s SamsungElectronics said on Friday it was considering adding Apple’s new iPhone 5 to a patent infringement case as part of a long-running global legal battle between the rival smartphone giants. Samsung officials said the company would look into amending itsside of an ongoing patent lawsuit in a US court to include the latest Apple gadget, which went on sale across Asia on Friday and is due to hit US stores later in the day. “Our company considers adding Apple’s iPhone 5 to the(patent infringement) case... but we cannot say when,” a Samsung spokesman told AFP. “Our decision will be made after our company has analysedthe iPhone 5 to see what aspects of its device constitutes patent infringement.” South Korea’s Yonhap News agency quoted market watchers as saying Samsung may use its long-term evolution (LTE) patent portfolio to attack the iPhone 5 — the first Apple phone to use the fourth-generation telecom network. Samsung and Apple —respectively the world’snumber one and two smartphone makers — have been at loggerheads over dozens of patent lawsuits in 10 nations, accusing each other ofcopying technologies and designs. Limit competition Last month, a California court ordered Samsung to pay $1.05 billion for patent infringement. The South Korean firmhas appealed the decision

South Korea’s SamsungElectronics said on Friday it was considering adding Apple’s new iPhone 5 to a patent infringement case as part of a long-running global legal battle between the rival smartphone giants. Samsung officials said the company would look into amending itsside of an ongoing patent lawsuit in a US court to include the latest Apple gadget, which went on sale across Asia on Friday and is due to hit US stores later in the day. “Our company considers adding Apple’s iPhone 5 to the(patent infringement) case... but we cannot say when,” a Samsung spokesman told AFP. “Our decision will be made after our company has analysedthe iPhone 5 to see what aspects of its device constitutes patent infringement.” South Korea’s Yonhap News agency quoted market watchers as saying Samsung may use its long-term evolution (LTE) patent portfolio to attack the iPhone 5 — the first Apple phone to use the fourth-generation telecom network. Samsung and Apple —respectively the world’snumber one and two smartphone makers — have been at loggerheads over dozens of patent lawsuits in 10 nations, accusing each other ofcopying technologies and designs. Limit competition Last month, a California court ordered Samsung to pay $1.05 billion for patent infringement. The South Korean firmhas appealed the decision

World biggest gold mines

Chinese and Venezuelan officials have signed an agreement to jointly develop one of the world's biggest gold mines. The agreement to develop Las Cristinas gold mine was signed by officials of the Venezuelan government and the Chinese company China International Trust and Investment Corp, or Citic. The mine in southern Bolivar state has been estimated to hold about 17 million ounces of gold. Venezuelan President Hugo Chavez called it an agreement to begin exploiting both gold and copper deposits at the mine. He called Las Cristinas 'one of the biggest reservoirs of gold that exists - not only in Venezuela, not only inLatin America, but in the world'. Officials didn't discuss financial details of theagreement but said it specifies engineering, construction and processing of the goldand copper. Chavez said officials also signed an agreement to produce a map of mineral deposits in theSouth American country. He announced the deals after a meeting with Chinese officials at the presidential palace. Chavez said they also agreed to deepen cooperation inVenezuela's oil industry. China's ties with Venezuela have grownrapidly in recent years.China also has become the country's biggest creditor, offering Chavez's government more than $36 billion in loans, which are beingpaid off largely with increasing oil shipments. Last year, Toronto-based Crystallex International Corp said it sought international arbitration after Venezuela rescinded its contract to developLas Cristinas mine.

macro finance

Today macro finance banks are realy beforming well

UNCLAIMED FINANCIAL ASSETS LAW(UFAL) 2011... In december of 2011 Kenya president Mwai Kibaki passed into the law the bill of unclaimed financial bill of 2011 . The law provides a legal framework for dealing with unclaimed financial assets. Did somebody in your family passed away but you did know that she/he had invested in stocks of certain company, you will have a chance to claim it through unclaimed financial assets authority. It believed that there are more than 200 billion of unclaimed assets held by banks and pension and insurance firms. The fund accumulated will be used by government until its reguired by the owners or the next of kin. This assets include money orders, cheques, drafts, demand and savings also include endowment insurance policies or annuties ownership of shares, stocks, or interest in a business assets also uncollected pension funds held by national security insurance funds. Although to date the minister for finance has no appointed those to sit in authority six months after the bill was passed. kenyans should be educated on the proçess they have to follow to shorten the inguiry of the late assets

LONGHORN PUBLISHER LISTED BY INTRODUCTION: Longhorn publishers shares started trading today at Nairobi Securities Exchange, with an introduction as mode they choose to trade their shares. many companies have opted to trade there shares in introduction manner rather than IPO way. The introduction price was kenya shilling 14 but price rose to Ks20. Longhorn will be the first publishing company in kenya to be listed at securities market. Longhorn made a profit of ks136.3m an revenues of ks1.1billion for the year ended 21 2011. The company specialises on primary school text books which contributes upto 60% of its revenues. Introduction gives the existing shareholders chance to sell their shares. A company will not introduce new shares hence it cheap to trade by introduction not initial public offer.

Official Google Blog: Supporting Innovation in African News

Official Google Blog: Supporting Innovation in African News