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Knowledge Update

First China-bound direct freight train leaves London

London, April 10 (IANS) The first China-bound freight train carrying British products left London on a 12,000-km journey on Monday, adding another terminal to the rail freight between China and Europe.

More Chinese firms investing in India, but political, cultural barriers remain

​China has emerged as one of the fastest-growing sources of Foreign Direct Investment (FDI) into India -- it was 17th largest in 2016, up from the 28th rank in 2014 and 35th in 2011.

Flipkart raises $1.4 bn from Tencent, eBay, Microsoft

Bangalore, April 10 (IANS) E-commerce major Flipkart on Monday said it has raised a total of $1.4 billion from Tencent, eBay and Microsoft.

The latest funding round, at a post-transaction valuation of $11.6 billion, is the largest in Flipkart's 10-year history as well as in the Indian internet sector and comes as Flipkart

World sees record investments in renewables, says report

New Delhi, April 7 (IANS) With the cost of clean technology continues to fall, the world added record levels of renewable energy capacity in 2016, at an investment level 23 per cent lower than the previous year, says an international research.

Food prices declined globally in March, says UN food agency

​Rome, April 7 (IANS) Global prices for all basic foods dropped globally in March, except meat, which rose slightly, said a United Nations Food and Agriculture Organisation report.

The FAO's price index for cereal, vegetable oil, sugar, milk and meat markets was at 171 points, a 2.8 per cent fall from the previous month and 13.4 per cent lower year-on-

LG Electronics estimates Q1 operating profit at $812 mn

​Seoul, April 7 (IANS) Riding on an improved performance of its TV and home appliance businesses, LG Electronics Inc. on Friday said its first-quarter operating profit is estimated at 922 billion won ($812.3 million), a market forecast-beating figure.

India's internet economy set to hit $250 bn by 2020

New Delhi, April 7 (IANS) Driven by e-commerce and financial services, India's internet economy is expected to double from $125 billion to $250 billion -- growing from the current five per cent to 7.5 per cent of the country's GDP, a joint report by The Boston Consulting Group (BCG) and The Indus Entrepreneurs (TIE) said on Friday.

Amazon to open sixth logistic hub in Spain

The global e-commerce giant Amazon announced on Thursday that it would be opening a new logistics hub in Barcelona that would create hundreds of jobs.

The centre would become the company's sixth logistics hub in Spain, Amazon has four of them in Catalonia, Efe news reported.

The new facility will create some 650 jobs over the next three years.

With the new distribution centre, Amazon seeks to handle its increasing sales volume in Spain, and cover the growing demand experienced by its pan-European logistics network, according to a company statement.

The expansion of its logistics infrastructure will enable Amazon to increase its sales, as well as its capacity to support thousands of small and medium-sized enterprises who sell their products through its third party sellers' web platform, "Amazon Marketplace".

The new hub will cover an area of 30,000 sq.metres, the equivalent of four soccer fields.

The centre is due to be operational by autumn 2017, and will initially hire 200 employees, whose selection process will begin in the coming months.

​Madrid, April 6 (IANS)

Beijing plans to meet air quality standard by 2030

​Beijing, March 28 (IANS) Beijing plans to meet the national air quality standard by 2030, according to a blueprint for the city's overall planning 2016-2030.

The blueprint was submitted to the standing committee of the municipal People's Congress for deliberation on Tuesday, Xinhua news agency reported.

Apple wins iPhone 6, iPhone 6 Plus patent case in China

New York, March 27 (IANS) Apple has won a trial against a Chinese phone maker in Beijing as a court overturned a ruling against Apple Inc. over iPhone patents, a media report said on Monday.