Indonesian airlines Garuda Indonesia cancels $6 billion orders for Boeing 737-MAX 8

Negotiations with Boeing are ongoing. Garuda Indonesia has said, it could switch the order with other Boeing models. Airbus SE jets are not, yet, being considered. On Friday, Fuad Rizal, the Chief Financial Officer of Indonesia’s national carrier Garuda Indonesia stated, the airlines has sent a letter to Boeing Co asking it to cancel an…

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Toyota and Suzuki enhance existing agreement targeting Electric Vehicles

The current agreement, which builds on the 2017 partnership, is aimed at boosting and supporting each other, so that they can better compete in the global EV market. On Wednesday, Toyota Motor Corp and Suzuki Motor Corp stated, they plan on producing electric vehicles (EVs) and compact cars for each other so as to better…

Tencent’s earnings report reveals surging licensing and content production costs

Excluding one-off items, Tencent Music Entertainment Group earned 0.57 yuan per American depositary share in the quarter, in line with analysts’ average estimate, according to IBES data from Refinitiv. In a significant development, China’s hugely successful content streaming firm Tencent Music Entertainment Group delivered its first earnings report as a public company. Although its result…