Daimler will cut at least 10,000 jobs worldwide over the next three years, said the carmaker in a statement. The move follows job cuts by carmakers in the industry as they deepen their commitments towards electric vehicles, while grappling with… Read More ›
On Friday, in a significant development, German Economy Minister Peter Altmaier said, it is critical that Germany sets up a new government body which will have the power to quickly decide whether it should take stakes in strategic domestic companies… Read More ›
Saudi Arabia, the world’s third largest defense spender, aims to cut its defense import bill by 50% by 2030. In an effort aimed at developing Saudi Arabia’s domestic defense industry, Saudi Arabian Military Industries (SAMI) and South Africa’s Paramount Group… Read More ›
Given the intertwined nature of the airplane industry, FACC sees no danger to its business due to the U.S.-China trade war. Brexit though is another story, since it could rip apart existing supply chains. China-owned Austrian aeroplane parts maker FACC… Read More ›
Armed with improved recovery rates, innovative technology and financing, the U.S. has overtaken Saudi Arabia in crude oil production in September 2018 and is within reach of the world’s no. 1 crude oil producer – Russia. In a strategic development,… Read More ›
U.S. & Saudi energy ministers are scheduled to meet in Washington to discuss ways to boost output and lower global oil prices. On the negotiating table is Saudi Arabia’s long demand for a civilian civil nuclear cooperation which will enable… Read More ›
From a purely commercial perspective, blocking China Mobile from accessing the U.S. market is unlikely to make any material impact since the bulk of its income is derived from the domestic market. A post by the U.S. National Telecommunications and… Read More ›
The alliance will have to streamline their efforts and work more closely since any unilateral action by any member could undermine their core strategic group effort. As per a source close to the discussions at hand, the European Union, the… Read More ›
Sompo is looking to invest in Israeli startups which specialise in cyber security, life sciences and agriculture. Sompo Holdings Inc, one of Japan’s top three property and casualty insurers, has become the first Japanese insurer to set up a fintech… Read More ›
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