News

Mon, 17 Jun 2019 12:38:13 GMT

VW likely to place extra Traton shares after listing

Frank Witter, Volkswagen's Finance Chief, announced on Monday the German carmaker is likely to place more shares of its truck unit Traton after the initial public offering, where it sought to raise up to $2.1B.

Mon, 17 Jun 2019 11:20:18 GMT

Pfizer to acquire Array in $10.64B deal

On Monday, Pfizer Inc announced it would take over Array Biopharma in a deal valued $10.64B, granting the global biopharmaceutical company access to Array's cancer drugs.

Mon, 17 Jun 2019 10:14:36 GMT

Bundesbank expects economic decline

On Monday, the German Bundesbank announced that it is expecting a decline of the German economy in the second quarter of this year.

Mon, 17 Jun 2019 09:35:59 GMT

Airbus triggers long-range A321neo jet

Airbus has released the A321neo aircraft's long-range version during the Paris Airshow, which was held on Monday, seeking to snag new routes for carriers with smaller jets and outrace its competitor Boeing.

Mon, 17 Jun 2019 08:39:24 GMT

Lockheed has no concerns over Raytheon-UTC merger

On Monday, Greg Ulmer, the Lockheed Martin F-35 programme's manager, stated that he had no concerns the proposed Raytheon-United Technologies Corp merger deal could affect the F-35 programme.

Mon, 17 Jun 2019 07:27:15 GMT

Stanley Chen to lead Google's Greater China sales

On Monday, Alphabet's Google has named Stanley Chen as the Greater China operations and sales managing director and is set to be based in Shanghai.

Mon, 17 Jun 2019 05:55:53 GMT

Intel triggers project to aid Israeli tech firms

On Sunday, Intel Corp has rolled out a project to help Israeli tech start-ups develop their technologies in autonomous and artificial intelligence systems, planning to expand the scheme in other countries.

Mon, 17 Jun 2019 05:18:47 GMT

Huawei prepares for up to 60% drop in international shipments

Huawei Technologies is getting ready for a 40%-60% drop in its international smartphone shipments amid the ban put by Washington on the Chinese company, which halts the US suppliers from cooperation with it, citing security concerns.

Mon, 17 Jun 2019 04:39:48 GMT

Deutsche Bank to create €50B bad bank

Deustche Bank is set to overhaul the trading operations by establishing a "bad bank", where it would hold assets worth up to €50B, according to the Financial Times.

Mon, 17 Jun 2019 02:37:28 GMT

UK companies to cut investment markedly

The UK companies look likely to cut their investment the most since 2009 this year, as the crisis of Brexit drags on, weighing over the future economic growth prospects, the BCC survey revealed.

Sun, 16 Jun 2019 19:01:10 GMT

Vodafone rolls out 5G network in Spain

Vodafone Espana, in cooperation with the Chinese telecom company Huawei, has rolled out the first commercial 5G network in Spain, making Spain one of the first countries in Europe to launch 5G service.

Sun, 16 Jun 2019 18:01:34 GMT

Estonia, Denmark to improve bilateral ties

The Estonian President Kersti Kaljulaid and the Queen of Denmark Margrethe II agreed to strengthen bilateral relations during a meeting in Tallinn, Estonia.

Sun, 16 Jun 2019 17:03:55 GMT

China, Qatar pledge to boost cooperation

The Chinese President Xi Jinping and the Qatari Emir Sheikh Tamim Bin Hamad Al-Thani pledged to deepen political and economic cooperation between the two countries.

Sun, 16 Jun 2019 16:16:03 GMT

China's FedEX investigation not related to retaliation

China's launched probe into FedEx misdirected mail is not a retaliation to the United States, the Chinese news outlet Xinhua stated on Sunday, despite worsening ties between Washington and Beijing due to trade war.

Sun, 16 Jun 2019 14:51:12 GMT

China ready for long trade battle with US

According to the Chinese Communist Party journal, China is ready for the long economic fight with the United States, as the Asian country is not set to give way on its major principles in negotiations with Washington.

Sun, 16 Jun 2019 13:51:31 GMT

Hong Kong black-clad protesters seek for leader resignation

On Sunday, thousands of the Hong Kong black-clad protesters demanded the city's leader resignation due to her bill handling that could allow extradition to China, sparking the most violent outcry in decade.

Sun, 16 Jun 2019 12:50:29 GMT

Apollo aims to finance Dish Network bid for Sprint, T-Mobile assets

Apollo Global Management, the private equity group, has entered talks with Dish Network, the satellite TV provider, over financing its bid for the wireless assets that are set to be divested in the T-Mobile and Sprint proposed merger deal.

Sun, 16 Jun 2019 12:05:46 GMT

Turkey slams Moody's after rating cut

Moody's decision to downgrade Turkey's credit rating to junk rating B1 from Ba3 raises questions about agency's objectivity and neutrality, the Ministry of Treasury and Finance reports.

Sun, 16 Jun 2019 11:17:19 GMT

India foreign exchange reserves rise to $423.5B

India's foreign exchange reserves have increased by $1.68B to $423.55B in June, a decline from a previous year high of $426.028 in April, the Reserve Bank of India reports.

Sun, 16 Jun 2019 10:04:55 GMT

Boeing to acquire EnCore Group

The US aircraft manufacturer Boeing signed a deal to acquire aerospace interiors producer EnCore Group as the company continues to follow its vertical integration strategy.

Sun, 16 Jun 2019 08:57:09 GMT

Algeria FDI rises in 2018

Foreign direct investment in Algeria rose by 22% to $1.5B in the first five months of 2019, compared to the prior year, the National Office of Statistics reports.

Sun, 16 Jun 2019 08:27:02 GMT

Kenya to grow 6.3% in 2019

The economy of Kenya is expected to expand 6.3% in the current year, the same pace as in 2018, the Cabinet Secretary for the National Treasury Henry Rotich says.

Sun, 16 Jun 2019 07:15:19 GMT

Israel cuts $903M from state budget to reduce deficit

Israel's Ministry of Finance plans to introduce several initiatives to cut $903M from the state budget to reduce the budget deficit to 3.8% from a prior figure of 4%.

Sun, 16 Jun 2019 06:00:18 GMT

China industrial output rises

The Chinese industrial output expanded 5% in May, compared to the same period the previous year, after an increase of 5.4 % in April, the National Bureau of Statistics reports.

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