News

Note: This section contains information in English only.
Sun, 07 Apr 2019 17:57:50 GMT

Elbit to acquire US night vision company

Elbit Systems, the largest non-state defence company of Israel, stated that its US subsidiary signed a deal with Harris Corp. to buy its night vision business for $350M.

Sun, 07 Apr 2019 17:02:12 GMT

Israel Electric, Leviathan deal over interim natural gas supply

Israel Electric and the Leviathan agreed over the short-term deal to supply natural gas, which is estimated to reduce costs and save up to $175M.

Sun, 07 Apr 2019 17:01:29 GMT

Chinese gold reserves increase in March

China increased the country's gold reserves for the fourth month in succession in March to amount 60.62M ounces, the People's Bank of China reported.

Sun, 07 Apr 2019 16:31:56 GMT

Turkish AK Party seeks all Istanbul votes' recount

AK Party of the President Tayyip Erdogan is set to ask Turkey's electoral board for a recount of all Istanbul's votes cast in elections, an official stated.

Sun, 07 Apr 2019 16:30:54 GMT

China's forex reserves at seven-month high in March

China's foreign currency reserves grew for a fifth month in succession in March, as increasing optimism over the prospects for the US-China trade deal offset concerns over weakening economic growth.

Sun, 07 Apr 2019 15:37:59 GMT

Hyundai denies tie-up with Tencent

South Korea's automaker Hyundai Motor denied the report stating that the company signed a deal with China's tech firm Tencent to develop software for self-driving vehicles.

Sun, 07 Apr 2019 15:35:32 GMT

LG Chem sets up JV with VinFast

South Korea's LG Chem stated that it created a JV with Vietnam's VinFast to produce Li-ion batteries for the Vietnamese vehicle maker's electric scooters and electric cars.

Sun, 07 Apr 2019 14:33:10 GMT

Scholz urges Britain to prevent no-deal Brexit

Olaf Scholz, the German Finance Minister, called on the UK government and opposition Labour Party to find an agreement for the country to leave the European Union.

Sun, 07 Apr 2019 14:29:19 GMT

China to rise cuts of bank reserve ratio

China is likely to step up the policy of cuts to required reserve ratios of banks to encourage funding for small and medium-sized enterprises, which play a significant role in economic growth.

Sun, 07 Apr 2019 13:37:35 GMT

Infosys opens new office in Switzerland

Global software leader Infosys stated it opened an office in Switzerland to help service the company's clients in the industry of energy and aerospace.

Sun, 07 Apr 2019 13:34:20 GMT

Mercedes-Benz sells more the 27K cars in March

Mercedes-Benz USA revealed sales of 27,004 Mercedes-Benz cars in March, while Vans unit reported monthly sales of 3,533 models, making grand total of more than 30K vehicles for the month.

Sun, 07 Apr 2019 12:37:03 GMT

Petrobras to sell pipeline unit to Engie for $8.6 billion

A consortium led by French Engie SA submitted the offer for Brazilian Petroleo Brasileiro's major gas pipeline unit, presenting an $8.6B bid for 90% of the pipeline.

Sun, 07 Apr 2019 12:31:47 GMT

Lyft to invest $50M for transportation initiatives

California-based transportation network company Lyft stated that it is set to invest $50M or 1% of its profits into locally-driven transportation services and other initiatives through the company's City Works programme.

Sun, 07 Apr 2019 11:37:07 GMT

Ethiopian inflation grows 11.2% yearly in March

Ethiopian consumer prices grew 11.2% in the one-year period to March, following 10.9% year-over-year inflation in February, the CSA stated.

Sun, 07 Apr 2019 11:30:53 GMT

Shell to invest $15B in Nigeria

The Shell Petroleum Development Company stated that it is set to spend about $15B across 24 oil and gas projects in Nigeria within the next five years.

Sun, 07 Apr 2019 09:55:57 GMT

Samsung Electronics faces 60% decline in Q1 profit

Samsung Electronics saw a sharp fall in its operating profit and sales in the Q1 of 2019, memory chip prices dropped and display panel demand weakened, the firm stated.

Sun, 07 Apr 2019 09:53:22 GMT

China's CFI declines last month

The average Chinese Containerised Freight Index declined 6.3% month-on-month to 830.81 in March amid the lack of demand, the Shanghai Shipping Exchange stated.

Sun, 07 Apr 2019 09:35:50 GMT

EU: Italy's weakening growth to trigger freeze in spending

Valdis Dombrovskis , the Vice President of the European Commission, stated that Italy might be forced to freeze some of planned public expenditures in 2019, as the country's growth is weaker than expected.

Sun, 07 Apr 2019 09:32:16 GMT

Non-oil private sector of UAE regains pace last month

The United Arab Emirates' non-oil private sector ended the Q1 on a positive note, with rates of growth in new orders and output quickening and employment stabilising, Emirates NBD's survey showed.

Sun, 07 Apr 2019 08:28:13 GMT

Tata Steel's production, sales grow markedly last quarter

Tata Steel reported that the company's Indian operations posted largest crude steel production at 4.47M tonnes in the Q4 of the 2019 financial year, growing 46% year-over-year.

Sun, 07 Apr 2019 08:24:40 GMT

Chinese P2P lending to shrink amid t tighter regulatons

China's peer-to-peer lending industry is expected to keep shrinking and consolidate amid tighter regulations and weak investors' sentiment, Fitch Ratings stated.

Sun, 07 Apr 2019 07:23:03 GMT

China's IT sector shows stable growth

According to the China's Ministry of Industry and Information Technology, the country's IT industry showed a 13.6% growth rate year-on-year in January and February.

Sun, 07 Apr 2019 07:20:02 GMT

California to obstruct Trump's wall construction

The California Governor Gavin Newsom has formed a coalition of 20 states and filed a claim to forbid the White House to use $1.6B from taxpayer funds for construction of the border wall.

Sun, 07 Apr 2019 06:19:05 GMT

Ghosn's wife to seek France's help

According to the Financial Times publication, the former Nissan CEO Carlos Ghosn's wife has left Japan and went to France to ask the government do make more effort to save him.

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