News

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Mon, 05 Aug 2019 18:55:41 GMT

Bombardier-led consortium gets $4.5B Egypt monorail contract

On Monday, a Bombarider-led consortium has won a contract worth over $4.5B for building and operating two Egyptian monorail lines; a project considered as the largest in recent years.

Mon, 05 Aug 2019 17:41:07 GMT

IBM announces new blockchain network

On Monday, International Business Machines and other companies, including Nokia, GlaxoSmithKline, Cisco, Lenovo, Vodafone, AB InBev, etc., have launched a new blockchain network called "Trust Your Supplier" designed for improving cumbersome and manual supply chain management.

Mon, 05 Aug 2019 16:43:20 GMT

Didi Chuxing's self-driving unit launched as independent firm

On Monday, China's ride-hailing titan Didi Chuxing announced its autonomous driving division was launched as an independent firm that would focus on research, as well as seek to deepen collaboration with carmakers.

Mon, 05 Aug 2019 15:41:49 GMT

Tesco to trim 4.5K job positions in Metro restructuring

The British largest retailer Tesco announced it would trim about 4.5K jobs from the Metro stores amid another restructuring designed to reduce costs, repositioning the company to compete in a highly challenging environment.

Mon, 05 Aug 2019 15:22:53 GMT

Walmart's Flipkart to roll out free video service

Walmart's Indian division Flipkart is planning to launch free movies, videos streaming service that will be available to all the app's customers within this month, as the e-commerce firm seeks to raise its user base among small cities and towns.

Mon, 05 Aug 2019 14:24:23 GMT

Total plans 30% stake sale in Trapil pipeline network

Total, the French energy group, is planning a sale of 30% stake in the pipeline network Trapil to Pisto SAS, the oil storage operator, in a deal valued at $289M on the back of the broader asset sale programme.

Mon, 05 Aug 2019 13:25:45 GMT

HSBC ousts CEO Flint in abrupt reshuffle

HSBC ousted its Chief Executive Officer John Flint in a shock member shift, which was needed to accelerate the strategy, including its US business turnaround, the EU largest bank's chairman stated on Monday.

Mon, 05 Aug 2019 11:44:06 GMT

ReAssure to acquire Quilter's closed book business

Swiss Re's UK-based ReAssure division agreed to acquire Quilter's closed book business in a $515.19M worth deal that will add more than 200K customer policies and £12.0B of assets to the ReAssure platform.

Mon, 05 Aug 2019 11:01:35 GMT

Japanese cars sales in South Korea drop in July

On Monday, the South Korean industry data showed that sales of the Japanese car brands, such as Toyota Motor and Honda, dropped 32% and 34% respectively in July due to severing ties between two Asian countries.

Mon, 05 Aug 2019 09:39:19 GMT

Elliott calls on Scout24 to sell auto listings unit

The US activist hedge fund Elliott called on Germany's classifieds group Scout24 to sell its vehicle listings business and increase a share buyback programme to bolster investor returns.

Mon, 05 Aug 2019 08:38:59 GMT

Scotland seeks for independence vote

Scottish voters are seeking for an independence vote from the United Kingdom, the Michael Ashcroft poll showed on Monday, with 46% of citizens claiming they would vote in favour of separation from the UK, while 43% of people voted against such a move.

Mon, 05 Aug 2019 07:06:35 GMT

SoftBank's Q1 profit rises 4% on mobile users growth

On Monday, the Japanese telecommunication company SoftBank Corp stated its Q1 operating profit climbed 4% to $2.54B, pleasing analysts' estimates, as the mobile user numbers reached 372K, according to official data.

Mon, 05 Aug 2019 06:37:53 GMT

Murdoch's Fox to acquire Credible Labs for $397M

On Monday, the US broadcaster Fox Corp agreed to acquire fintech company Credible Labs in a deal that valued the online finance broker at $397M, as the Murdoch-owned group seeks for growth after its TV assets and film sale to Disney.

Mon, 05 Aug 2019 03:33:07 GMT

HSBC profit up 16% in first half

HSBC reported on Monday that its pretax profit rose 15.9% in the first half and announced future buyback of $1B, defying expectations that it could pause returning extra capital to investors.

Sun, 04 Aug 2019 20:06:32 GMT

Saudi Aramco cut oil sales to Asia

Saudi Arabia, the world's largest oil exporter, cut its pricing for September sales of all crude oils to Asia, while increasing prices to buyers in the Mediterranean region and northwest Europe.

Sun, 04 Aug 2019 19:09:59 GMT

Apple takes huge share of tablets' market in Q2

Apple kept leading the global tablet sector, with the company's market share reaching 38.1% in the second quarter, followed by Samsung with 15.2% and Huawei with 10.3% of the market share.

Sun, 04 Aug 2019 18:08:08 GMT

Zimbabwe raises fuel price again

Zimbabwe raised the price of diesel and petrol up to 26% after the country's Finance Minister increased import tax over fuel last week, adding pressure on citizens fighting with triple-digit inflation.

Sun, 04 Aug 2019 16:52:40 GMT

Chinese chemical sector with faster value-added rise

The chemical sector in China saw faster value-added increase of 4.6% year-over-year in the first half of 2019, according to the report published by the NDRC.

Sun, 04 Aug 2019 15:53:36 GMT

New US sanctions unlikely to hurt Russia's financial system

The Russian Financial Minister Anton Siluanov stated that additional sanctions by the US would affect bilateral ties between Washington and Moscow, but the country's financial system is resilient to external pressures.

Sun, 04 Aug 2019 15:15:44 GMT

US, Japan aimed at trade deal by September

The United States and Japan agreed to target a broad bilateral trade deal by September, aiming to bridge difference in opinions on tariffs over beef and the automobile sector.

Sun, 04 Aug 2019 14:02:35 GMT

Economic sentiment decreases in Cyprus in July

Economic sentiment fell in Cyprus last month, compared to June, resulting from a weaker business confidence in almost every main sectors driving the country's growth, according to the report.

Sun, 04 Aug 2019 12:51:34 GMT

Kia Motors' sales down 2.7% globally

Kia Motors announced its global sales of 225.9K units for last month, a 2.7% decline compared to the similar period in 2018.

Sun, 04 Aug 2019 12:17:35 GMT

Iran-Azerbaijan trade grows strongly

Trade between Azerbaijan and Iran increased 2.2 times in the past six-month period compared with the 2018 same period, as both countries made investments in different fields, such as railway industry.

Sun, 04 Aug 2019 11:08:15 GMT

Germany's car sales increase in July

The car market in Germany grew markedly in July, with 333K cars sold in the period, up 4.7% year-on-year, while in the half-year period sales added 1.2% to reach almost 2.2M vehicles.

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