German Tribune

In what marks the latest news on the Android 4.0 `Ice Cream Sandwich' upgrade front, Motorola has recently confirmed that its Droid Razr handset will be upgraded to the latest Android version in the second quarter of the year.

Oil slipped on the New York Mercantile Exchange on Monday as Greece's unresolved debt crisis and prevailing economic uncertainty in the region discouraged investors.

Futures for March delivery slipped as much as 0.6 per cent, or 63 cents, to $97.21 per barrel in electronic trading on the New York Mercantile Exchange. As of 10:09 a. m. Singapore time it was trading at $97.25 per barrel. However, the prices were still up 11 per cent from the last year.

On February 3, the contract jumped $1.48 to $97.84 per barrel. It was the highest close since January 31.

Outsourcing giant Serco Group Plc has announced its plans to overhaul its management structure, in a move that will lead to at least 500 redundancies.

Most of the jobs at risk are from the company's office at Hook, near Basingstoke.

Outsourcing group Serco is to chop 500 UK jobs as part of a shake-up in the way it provides back-office services to public and private sector organisations worldwide.

Serco, which offers back-office support for a wide range of public & private sector bodies, has plans to merge its business processing operations into one global arm

China's sovereign wealth fund on Monday revealed its intention to invest in European and US infrastructure, which badly requires more investment.

Lou Jiwei, the chairman of the China Investment Corp., which possesses around $410 billion in assets, said that the fund had plans to start investing money in the West’s infrastructure to improve neglected projects.

Jiwei said the Chinese fund would either partner with British fund managers or invest directly in the neglected projects.

In an attempt to ensure the smooth functioning of its industrial engine in the wake of its buoyant economy, Germany has come up with a surprising decision to combat its problem of shrinking labor force --- it is seeking skilled workers from problems-plagued Greece!

While unemployment levels have been showing a disquieting increase in Greece, as well as European slowcoaches like Spain and Portugal, prosperous Germany is in a desperate need of skilled workers to keep its industries running.

There seems to be no end to the woes of European nations, as another report by the Federal Labour Office revealed that Germany's unemployment rate has gone up by 10,000 to 7% as compared to 6.9 % in the month of September.

With the global economy facing slowdown with added fears of euro zone debt crisis, future seems quite uncertain not just for the countries but for other companies to enter for business avenues.

Euro countries agreed on Friday to release the next batch of bailout loans for Greece, which is struggling to protect its economy from slipping into another economic slump.

An EU official said finance ministers from 17 euro countries agreed on creating a concrete plan to strengthen the banks, adding that the plan should be ready in time for the EU leaders' summit on Sunday.

Evangelos Venizelos, finance minister for Greece, welcomed the news that the country would receive the next euro 8 billion (around $11 billion) installment, describing the move as a "positive step."

As rising energy cost is pinching countries across the world, Europe’s largest economy is down the firing line. Owing to skyrocketing energy prices, inflation in Germany has reached a staggering level of 2.9% from its previous mark of 2.5% in August.

It has been confirmed by the Federal Statistics Office who adopted a harmonized European Union method to reach at the conclusion.

If statistics are to be referred, energy prices have risen by 9.8% as compared to last year, while heating oil prices saw a rise of 23.8%.

With fall in annual income of families in UK, big grocery stores have also witnessed downfall in sales and income in last three months.

As a result of the fall in annual income, resulting from debt-crisis in the nation, the top stores of the UK are facing a decline in their market position from last 12 weeks. Grocery tycoons of the nation, Tesco and Asda, have been really upset with their persistently falling market position.

The mobile advertiser “madvertise” has been provided financial assistance of $10 million by VCs. With receiving financial support, the Company claims to be the most powerful in the mobile advertisement sector.

So far, the Company has been at the top most position in providing services in Germany, Austria and Switzerland. The financial assistance has been made to capture the market of entire Europe. According to Madvertise, the working of the Company completely relies on the technology developed in Germany. The Company claims to be the sole advertisement provider according to the location.