Tesla becomes the most valuable automaker with market cap of $209.47 billion

Tesla has become the highest-valued automaker following a surge in the price of its shares which saw Tesla’s market capitalization overtaking that of former front runner Toyota Motors Corp. On Wednesday, Tesla’s shares touched a record of $1,133, boosting its market cap to $209.47 billion, around $6 billion more than that Toyota’s. Tesla’s market cap…

U.S. private equity group Carlyle to buy 25% stake Bharti Airtel Ltd’s data center arm for $235 million

On Wednesday, U.S. private equity group Carlyle stated, it has decided to purchase a 25% stake in Indian telecom firm Bharti Airtel Ltd’s data center arm for $235 million. The development marks the rapid growth of digital services in India. In a statement both companies said, the acquisition will provide Airtel’s Nxtra Data Ltd an…

Netherlands starts 5G auction with floor price of $1 billion

On Monday, in a significant development, the Dutch government began auctioning airwaves for 5G networks with a floor of $1 billion (900 million euro). Telecommunication companies including Vodafone, KPN, and T-Mobile are participating. The auction is for the 700, 1400 and 2100Mhz frequency ranges. The companies will submit bids in a series of daily rounds…

Sony tweaks business model, aims for subscription based model rather than solely rely on hardware sales

In a development that signals a change in its business model, Sony Corp stated, it’s image sensor business aims to replicate the PlayStation’s success to address its reliance on a handful of manufacturers in the fiercely competitive smartphone market – it plans on selling software by subscription for data-analyzing sensors in situ. Much akin to…

China’s state-owned airlines take delivery of single-aisle short haul ARJ21 aircraft

In a significant development, three of China’s biggest state-owned airlines have taken delivery of their first ARJ21 short haul 90-seater aircraft made by state-owned Commercial Aircraft Corporation of China (COMAC). In a statement COMAC said, China Eastern Airlines Corp Ltd, Air China Ltd, and China Southern Airlines Co Ltd have received the aircraft; they would…

Moller-Maersk to set up $60.36M R&D center in Denmark to drive zero-carbon footprint in shipping sector

On Thursday, in a significant development, A.P. Moller-Maersk, the world’s largest container shipper, said it will team up with industry majors to set up a research center in Denmark with the aim of reducing carbon emissions in the shipping industry. Denmark’s Maersk, which said it wants to be carbon-neutral by 2050, said the research center…

Singapore selects Nokia & Ericson for 5G

In a significant development, Singapore’s biggest wireless network operators have selected Nokia and Ericsson to build their core 5G networks. The development comes midst a growing awareness by countries on threats posed by China’s Huawei and comes in the wake of trade tension between Singapore’s biggest trading partners, the United States and China. Singapore had…

Amazon plans on building warehouse in Sydney: Australian Financial Review

On Thursday, a report from the Australian Financial Review said, Amazon Inc is expanding its footprint in the country and plans on building a warehouse in Sydney. It is also looking to install a giant facility in Melbourne. A spokeswoman for Amazon declined to comment on ‘speculations or our future plans.’ In a separate stock…