News

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Mon, 13 May 2019 11:39:14 GMT

Kenya's CBA, NIC Group gets approval for merger

On Monday, Kenya's Competition Authority granted its approval for a proposed merger deal between NIC Group and Kenya's Commercial Bank of Africa, according to regulator.

Mon, 13 May 2019 11:35:54 GMT

Scania tie up with Northvolt on battery deal

Volkswagen's Scania teamed up with Sweden's Northvolt on the battery supply deal, launching talks about equity investment in Northvolt's efforts to attract €1.5B.

Mon, 13 May 2019 09:55:43 GMT

Tencent game brings in $14 million

Tencent Holdings announced on Monday that its alternative game to PlayerUnknown's Battlegrounds earned the company $14 million during the first 72 hours since its launch.

Mon, 13 May 2019 09:55:18 GMT

Oil prices increase on Monday

During early Monday's trading hours, crude oil prices surged. The move was attributed to supply disruptions in the Middle East.

Mon, 13 May 2019 09:38:38 GMT

SAIC Motor posts sluggish sales in four months

The largest auto company on the Chinese market, SAIC Motor Corp, reported weaker sales in the 2019 year's first four months, saying car sales dropped 16.8% YOY to 1.99M units.

Mon, 13 May 2019 08:38:57 GMT

US car tariffs deadline may be delayed

Cecilia Malmstroem, the EU Trade Commissioner is expecting the US President Donald Trump to postpone the May 18 deadline for the US tariffs on vehicles imported from the bloc, according to the Sueddeutsche newspaper.

Mon, 13 May 2019 08:35:52 GMT

Kering fashion group sets animal welfare guidelines

Kering, the French fashion group that owns Saint Lauren and Gucci, set out the guidelines on animal welfare, as the luxury company seeks to tighten its ethical standards.

Mon, 13 May 2019 07:37:50 GMT

Bayer picks external law firm to probe Monsanto issue

On Sunday, Bayer stated it hired an external law company to launch an inquiry into the French media complaints, alleging its recently acquired US seed maker Monsanto had compiled an influential personalities file.

Mon, 13 May 2019 07:29:41 GMT

China car sales drop 14.6% YOY in April

Auto sales in China fell 14.6% year-on-year in April, the country's largest vehicle industry association reported on Monday, marking the tenth consecutive month of the slump.

Mon, 13 May 2019 06:38:06 GMT

Belgium's Fagron buys Mexico's Cedrosa

Fagron NV, Belgium's pharmaceutical ingredients group, announced on Monday it would acquire Mexico's Central de Drogas in an all-cash deal worth $18.39M, as it seeks to expand its footprint in Latin America.

Mon, 13 May 2019 06:34:47 GMT

Norway grants Euronext with clearance on Oslo Bors deal

Euronext, the EU stock market operator, won clearance from the Norwegian Ministry of Finance to acquire Oslo Bors, pushing the company closer to a victory in its battle with Nasdaq.

Mon, 13 May 2019 04:54:09 GMT

Lendlease's shares soar on approach report

Shares in Australia's Lendlease Group surged 9.7% to A$13.97 on Monday on a media report suggesting it became a takeover target, while the construction company said no "approach" had been received yet.

Mon, 13 May 2019 04:53:59 GMT

Pompeo heads to Brussels for talks on Iran

On Monday, Mike Pompeo, the US Secretary of State, is heading to Brussels to hold talks with the EU officials over Iran and other issues, before his trip to Russia to meet the Russian President Vladimir Putin in Sochi.

Mon, 13 May 2019 04:38:16 GMT

Colfax close to its air & gas unit sale

The welding and valves producer Colfax Corp is nearing a sale of its gas and air handling unit to the PE group KPS Capital Partners for over $1.8B, a deal that would help Colfax pay down its debt after acquiring the DJO Global medical devices maker for $3.15B.

Mon, 13 May 2019 04:33:10 GMT

Fonterra to sell Tip Top unit in $250M deal

On Monday, New Zealand's dairy group Fonterra confirmed its sale of the ice cream business Tip Top to the British firm Froneri in a deal valued at $250.3M, amid Fonterra's intention to cut its portfolio, shifting focus to international markets.

Mon, 13 May 2019 03:32:42 GMT

SoftBank to invest in Greensill

SoftBank Vision Fund is set to invest $800M in Greensill, the UK group providing chain funding to firms, Bloomberg reported, citing sources familiar with the matter.

Mon, 13 May 2019 03:30:06 GMT

China's electronic information production revenue up in Q1

The Chinese sector of electronic information production industry revealed 6.3% yearly increase in revenue in the first quarter of this year, official data showed.

Sun, 12 May 2019 20:13:21 GMT

Macao economic growth rate to rise by 4.3% in 2019

China's Macao economic growth rate is seen to rise by 4.3% this year, mainly driven by tourism, the Special Administrative Region monetary watchdog reported on Saturday, quoting the report published by IMF.

Sun, 12 May 2019 20:05:35 GMT

China views current account surplus in first quarter

China reported on Saturday that surplus in its current account came in at $58.6B in the Q1, up from $54.6B in the prior quarter, boosted by higher external demand for the country's goods.

Sun, 12 May 2019 19:18:27 GMT

Thyssenkrupp seeks new partners for steel operations

Germany's Thyssenkrupp is planning to seek new partners for the group's steel operations after scrapping the EU merger deal with the Indian company Tata Steel, Guido Kerkhoff, the CEO, announced on Sunday.

Sun, 12 May 2019 19:09:26 GMT

Pakistan signs agreement with IMF on $6.0B bailout

On Sunday, Pakistan has reached an agreement with the IMF on a three-year $6.0B bailout package that is aimed at enhancing fragile public finances, as well as boosting the slowing economy, the country's official stated.

Sun, 12 May 2019 18:32:39 GMT

China's express delivery sector expands slower in April

The China express delivery index plummeted came in at 100.8% last month, compared to 101.5% reading in March, according to the CFLP's data report revealed on Saturday.

Sun, 12 May 2019 18:27:47 GMT

China accepts three new initial public offerings

The Chinese national securities regulator approved three new applications for initial public offering of Guangdong SongYang Recycle Resources, Sichuan Dawn Precision Technology and Shandong Yuanli Science and Technology that are set to be listed on the A-share market.

Sun, 12 May 2019 17:33:47 GMT

Washington's tariff increase affects US-Sino trade tensions

Jon Taylor, the expert on China, stated on Sunday that Washington's decision to increase extra tariffs on China imports during another round of the US-China trade talks affected tensions between the two countries, making them "worse, not better".

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