News

Note: This section contains information in English only.
Tue, 14 Jul 2020 03:59:13 GMT

Huawei shows slower revenue growth

Huawei Technologies posted a 13.1% surge in its year's first half revenue, marking a slower growth due to the US pressure on the tech giant's suppliers and customers, as well as expected British ban.

Tue, 14 Jul 2020 03:00:21 GMT

ENKRAFT takes 3.47% in German firm Energiekontor

ENKRAFT, the energy activist fund, has acquired a stake of 3.47% in Energiekontor, Germany's solar and wind park developer, in a deal aimed to change the firm's strategy, the group announced on Monday.

Mon, 13 Jul 2020 20:56:32 GMT

Analog Devices to acquire Maxim in $21B deal

Analog Devices Inc, the semiconducter manufacturer, announced it would acquire Maxim Integrated Products in a deal worth $21B, the largest in the United States this year, seeking to bolster its market share in the 5G and automotive chipmaking.

Mon, 13 Jul 2020 19:41:49 GMT

LinkedIn sued over alleged user data breach

An iPhone user filed a suit against Microsoft Corp's LinkedIn over the alleged personal data breach, claiming it is reading and redirecting sensitive content from Apple's users via Universal Clipboard application.

Mon, 13 Jul 2020 18:48:59 GMT

Reliance's Jio wins Qualcomm support in 5G plans

India's Reliance Industries reported that Qualcomm's investment unit would acquire a 0.15% stake in Jio Platforms in a deal valued at $97.1M, helping Reliance's digital arm to launch its 5G services to India's market.

Mon, 13 Jul 2020 17:43:33 GMT

Disney to close HK Disneyland again

Walt Disney is planning to temporarily shut down its Disneyland theme park based in Hong Kong starting from July 15 due to the growing number of coronavirus cases, the company announced on Monday.

Mon, 13 Jul 2020 16:45:47 GMT

Huawei seeks for 5G removal delay

China's Huawei Technologies has addressed a meeting request to the British Prime Minister Boris Johnson, seeking to delay its removal from the UK 5G network, according to the Sunday Times report.

Mon, 13 Jul 2020 15:41:49 GMT

US to put 25% extra duties on French goods

The US White House announced 25% of additional duties on France's handbags, cosmetics and other import goods valued at $1.3B in retaliation for the French digital services tax; however, delayed the implementation for 180 days.

Mon, 13 Jul 2020 15:16:27 GMT

Google commits $10B to India

On Monday, Alphabet's Google announced it is planning to pledge nearly $10B to India during the following five or seven years via tie-ups and equity investments, marking the company's largest commitment to the market.

Mon, 13 Jul 2020 14:07:26 GMT

UK seeks banning Huawei from 5G

British Prime Minister Boris Johnson intends to ban China's Huawei from the UK's 5G network on the back of rising economic tensions between China and the United States.

Mon, 13 Jul 2020 13:38:43 GMT

Fisker to launch IPO via SPAC deal

Fisker, the electric car maker, is set to launch an initial public offering through a merger deal with SPAC, a blank check firm supported by Apollo Global Management, at the $2.9B valuation.

Mon, 13 Jul 2020 12:17:57 GMT

S. Korea to hold annual ADB meeting in 2023

The South Korean finance ministry announced on Monday it would conduct the Asian Development Bank's 56th annual meeting in the city of Incheon in 2023, due to a disruption of earlier plans for hosting the meeting this year caused by the coronavirus outbreak.

Mon, 13 Jul 2020 11:27:59 GMT

PepsiCo tops revenue, profit forecasts

On Monday, PepsiCo Inc topped analysts' expectations for its quarterly profit and revenue results, driven by a rise in snacks demand, such as Cheetos and Fritos, during the coronavirus lockdowns.

Mon, 13 Jul 2020 10:31:22 GMT

Alibaba's Ma sells $8.2B worth shares

Jack Ma, the co-founder of Alibaba Group Holding, reduced his stake from 6.2% the previous year to 4.8% held in the current year, cashing out about $8.2B, Alibaba's annual filing showed.

Mon, 13 Jul 2020 09:09:02 GMT

NIBC agrees to takeover offer by Blackstone

The Dutch bank NIBC announced on Monday it had agreed to a takeover offer made by Blackstone, despite the US PE firm reduced its bid by nearly 25% to €7 for a share amid the coronavirus crisis.

Mon, 13 Jul 2020 07:05:12 GMT

Engie to appoint new CEO this September

France's Engie is set to appoint its new CEO in September as the ex-gas monopoly is moving forward to renewable energies, Le Journal du Dimanche reported.

Mon, 13 Jul 2020 06:59:12 GMT

WeWork sees positive cash flow next year

Marcelo Claure, the Executive Chairman of WeWork, expects the office-sharing firm to have a positive cash flow next year, earlier than its initial target, according to the Financial Times report.

Mon, 13 Jul 2020 06:39:44 GMT

Tesla cuts price for Model Y SUV price

Tesla Inc has slashed the price for its Model Y SUV by $3K, four months after the roll-out, as the US electric automaker seeks to keep its sales momentum during the COVID-19 crisis.

Mon, 13 Jul 2020 05:07:24 GMT

Qualcomm to buy 0.15% stake in Reliance's digital unit

Qualcomm's investment division will acquire a 0.15% stake in Reliance's Jio telecoms unit, the Indian Reliance Industries announced on Sunday.

Mon, 13 Jul 2020 04:00:44 GMT

Volkswagen replaces head of software unit

According to the Handelsblatt newspaper report published on Sunday, Volkswagen would replace Christian Senger as the company's head of the software division.

Mon, 13 Jul 2020 03:02:36 GMT

US lawmakers need compromise to extend jobless benefits

On Sunday, the US House Speaker Nancy Pelosi said that Congress needs to find a compromise to prolong the coronavirus unemployment benefits.

Mon, 13 Jul 2020 01:44:10 GMT

Kuwait's government submits debt law to Parliament

Safaa al-Hashem, the head of Parliament's Financial and Economic Committee, announced on Sunday that Kuwait's government had asked the Parliament to approve the public debt law.

Sun, 12 Jul 2020 19:49:03 GMT

Reliance gets Qualcomm backing

On Sunday, the digital unit of Reliance acquired the needed backing of Qualcomm to improve its 5G plans.

Sun, 12 Jul 2020 18:44:52 GMT

Volkswagen replaces head of software

Volkswagen announced on Sunday to Handelsblatt that the company would replace the company's head of software division.

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