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The social networking giant Facebook Thomas White/File Photo/Reuters

Facebook will relaunch its "Events" stand-alone app as "Local" for Android and iOS devices. Reports said that information about local businesses and reviews from Facebook users will be featured in that section, which will help to bring businesses, restaurants, bars and more along with events.

"Launching in the US on iOS and Android, Facebook "Local" combines events and permanent places to a single search engine powered by Facebook's 70 million business pages plus reviews and friends' check-ins," TechCrunch reported late on Friday.

"The new app, helps you easily find what to do, where to go, where to eat, or what you need -- all recommended by the people you know and trust," Aditya Koolwal, Product Manager, "Local," was quoted as saying.

"Local" app will combine calendar and event listings and this aspect could turn the social media platform closer to apps like "Foursquare" and "Yelp" that search-and-discover and provide those results for its users locally.

Facebook is also likely to start testing two features -- "red envelope" that would enable users to send money to others from the platform, and a "breaking news" tag that publishers can use to make people aware of the latest happenings around them.