Sina Corp (SINA), a leading Chinese online media services provider, launched $301 million fund for developers to create applications for its highly popular Twitter-like microblog, Weibo (pronounced ‘way-bore’). Sina is one of the few micro-blogging services still around in China after the government banned Twitter and other competitors for refusing...

IAC/InterActiveCorp owns the news and commentary site The Daily Beast, agreed this week to enter into a 50-50 venture that would pair it with Newsweek.  Tina Brown will retain her title and also become editor in chief of Newsweek. According to The Wall Street Journal, The Daily Beast Web site...

Google Refine is a open source tool for working with datasets, including but not limited to Freebase. According to David Huynh, Google Search Infrastructure, it can be used for: "cleaning up inconsistencies, transforming them from one format into another, and extending them with new data from external web services or...

Leading cloud application platform-as-a-service (PaaS) provider Heroku has launched a Facebook App Package and guide for building Facebook applications on Heroku's PaaS. If you're in the market for building Facebook apps, Heroku a new Facebook App Package may be worth checking out. Facebook is the most popular social platform for...

Popular Online video site Hulu should more than double revenue this year to $240 million, up from $108 million the year before and $25 million in its first year, its chief executive Jason Kilar said. Launched three years ago, Hulu is now the second-largest Web video service behind Google's YouTube...

Italian government has cleared the sale of designer Gianfranco Ferré, one of the most famous fashion house of the last decade, to U.S. private equity firm Prodos Capital Management, parent company IT Holding. The government is pushing to keep the jobs and manufacturing tied to Ferré’s business in Italy after...

Lions Gate Entertainment (LGF) has met with Metro-Goldwyn-Mayer (MGM) to present a proposal to combine the two studios once MGM emerges from bankruptcy. Lions Gate vice chairman Michael Burns confirmed on CNBC the studio has been holding talks with Investor Carol Icahn, who owns 33.5 percent stake of Lions Gate....

Brazilian aircraft manufacturer, Empresa Brasileira de Aeronáutica, S. A. (Embraer) is building a 150,000-square foot business jet assembly facility at Melbourne International Airport in Florida. Florida based assembly facility will produce up to eight of Embraer’s popular executive jets known as the Phenom 100 each month for U.S. customers. Embraer’s...

India is poised to become one of the most important markets in the Defence Sector, defence and aerospace vendors make a way for India, Andhra Pradesh government goes all out to attract investors, by projecting its capital Hyderabad as the best destination for aerospace investment. The Indian Information Technology (IT)...