The aim is to provide a supporting hand to local manufacturing and boost their growth, including the production of cells for electric vehicles. In a significant development, France and Germany agreed on a joint manifesto for a new industrial policy in Europe to help support local companies to better compete with rivals, including foreign ones,…
Dismissing reports that New Zealand will adopt Britain’s approach, Prime Minister Jacinda Ardern stated, Wellington would independently assess the risk of using China’s Huawei Technologies in its 5G networks. On Monday, New Zealand’s Prime Minister Jacinda Ardern stated, Wellington would independently assess the risk of using China’s Huawei Technologies in its 5G networks. The development…
Abu Dhabi’s state-owned Mubadala Investment Co is aiming to invest between $5 million and $30 million in European startups. On Monday, as per a report from the Financial Times, Japan’s SoftBank Group has provided nearly 50% of the cash for the new $400 million fund by Abu Dhabi’s state-owned Mubadala Investment Co. Mubadala Investment Co,…
The argument that if Britain is okay with using Huawei’s 5G equipment means its alright for other countries to use may not gel very well since one man’s meat is another man’s poison. In a development that bodes well for China’s Huawei, the Financial Times has reported citing two sources familiar with the conclusion of…
The development is in line with those of other countries who are aiming to bring large multinational companies within the ambit of their tax net. On Monday, in a significant development, New Zealand disclosed it aims to update its laws in order to tax the earnings of multinational tech companies, including Facebook, Amazon.com, Google. The…
The Chinese ride hailing giant aims to focus on its core businesses this year. On Friday, a source familiar with the matter at hand disclosed, Chinese ride sharing giant Didi Chuxing will be laying off 15% of its workforce, roughly 2,000 people, in 2019. According to the source, Didi Chuxing’s CEO Cheng Wei told during…
Wal-Mart is in the process of fixing the issues due to which it had to cut its ties with the logistics firm. In a significant development that marks a setback against Wal-Mart’s efforts to fight Amazon.com in the groceries segment, logistics firm Deliv and Walmart Inc have discontinued their same-day grocery delivery partnership. In 2018,…
This conclusion was made by Sabine Lautenschlaeger, director at the European Central Bank, to an audience in Sydney. On Wednesday, Sabine Lautenschlaeger, European Central Bank director stated, the majority of London-based banks relocating to the Eurozone due to Brexit, have made “reasonable progress” in preparing the move. “We have urged and pushed them (banks) to…
Thailand is more sensitive about the price of setting up its 5G networks than its national security. On Friday, despite calls from the United States to to its allies to bar China’s Huawei Technologies from building next generation mobile networks, Thailand launched a test bed for the Chinese telecom giant. Huawei is facing growing pressure…
The move is clearly aimed at boosting shareholder returns. On Friday, Sony Corp announced its first-ever major share buyback worth $910 million (100 billion yen). With the news reaching the market, its stock recovered from a hammering from investors who were spooked over its lackluster earnings. Sony’s announcement marked Japan’s second major buyback this week:…
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