Harley-Davidson said on Thursday it will shut down manufacturing and sales operations in India. The American premium motorcycle manufacturer had indicated exiting some of the loss-making international markets to re-route focus on the US market. Under its “The Rewire” strategy revealed in July, it said that it would streamline its planned product portfolio by about […]
Airbus has revealed three concepts for the world’s first zero-emission commercial aircraft which could enter service by 2035. These concepts each represent a different approach to achieving zero-emission flight, exploring various technology pathways and aerodynamic configurations in order to support the company’s ambition of leading the way in the decarbonisation of the entire aviation industry. […]
Indonesia and Japan have listed a number of banks as cross currency dealers in an attempt to encourage Rupiah and Yen transactions for bilateral trade and direct investment. The countries signed a Memorandum of Understanding (MoU) on the Local Currency Settlement framework in Tokyo. “Bank Indonesia (BI) and the Ministry of Finance of Japan (JMOF) […]
Electric car maker Tesla Inc is mulling over establishing a research and development (R&D) centre in India’s technology capital, Bengaluru. Tesla held discussions with Karnataka State government officials regarding the project on September 10, Economic Times reported citing its sources on Monday. Government officials will present a detailed proposal to the car maker during a […]
China’s National Energy Administration has projected the country’s Natural Gas consumption to touch 320 billion cubic metres (bcm) this year. Although it indicates an upward trend by increasing 4.2% (or 13 bcm), the government research report shows it is the slowest growth pace in the last five years. Demand for natural gas grew just 1.5% […]
Google removed India’s Paytm from the Play store for ‘repeatedly’ violating its gambling policies on Friday. The Google Play listing of the Paytm app is showing an error that reads, “We’re sorry, the requested URL was not found on this server.” “Dear Paytm’ers, Paytm Android app is temporarily unavailable on Google’s Play Store for new […]
The Israel and Dubai Diamond exchanges signed a strategic deal to boost trade between the Middle East’s main diamond hubs, on Thursday. The development comes two days after Israel and the United Arab Emirates (U.A.E.) inked a historic agreement to normalize ties. It marks a further development in economic collaboration between the countries. “DMCC is […]
Abu Dhabi Investment Authority (ADIA) has purchased a 5.1% stake valued $615 million in Cheniere Energy Inc., America’s largest exporter of liquefied natural gas (LNG). The country’s main sovereign wealth fund disclosed its holding in a filing dated September 14. It is now Cheniere’s fourth-largest shareholder, Bloomberg reported Wednesday. The Trump administration views LNG exports […]
Top five British banks are poised to sign Tech Nation’s ‘Fintech Pledge’ to accelerate growth of UK’s fintech sector by bridging the gap between the two parties. The Fintech Pledge is designed by the Fintech Delivery Panel with support from the UK government’s HM Treasury (HMT). The aim of the pledge is to boost UK’s […]
The prototype of Turkey’s AI-powered CEZERİ Flying Car has completed initial flight tests, taking us an inch closer to living a sci-fi life depicted in the Hollywood movies. “Developed nationally and originally to be ready for the races of the future. CEZERİ Flying Car has completed its first flight,” developer of the futuristic car, Baykar, […]
Saudi Telecom Co (STC) has completed studying purchase of 55% stake in Vodafone Group’s Egyptian unit, amounting to $2.4 billion. The London-listed telecom firm has said that it remains in discussions regarding sale of its business with STC. Notably, a memorandum of understanding (MoU) signed between two parties expired recently. Telecom Egypt holds the remaining […]
The United Kingdom has launched a project to build the country’s first ever commercial Quantum Computer to be used by Abingdon-based businesses in Oxfordshire. Led by US-based Rigetti Computing, the consortium will include University of Edinburgh, high-tech tool maker Oxford Instruments, software start-up Phasecraft and Standard Chartered bank. The £10m collaboration is backed by a […]
Banque Saudi Fransi and Mastercard have rolled out the world’s first Priceless Mastercard Credit Card for their ultra-high-net-worth (UHNW) customers. BSF launched the elite Priceless Card during a private customer event hosted at Al Ula UNESCO World Heritage Site earlier this year. It is part of Mastercard’s two-year old “Start Something Priceless” campaign, which encourages people to […]
Global 5G smartphone shipments are expected to touch 280 million units in this year with China accounting for a lion’s share or 62% of shipments. Canalys, a market research firm, has said in its latest report that rapid commoditization of 5G smartphones in mainland China will set the numbers spiraling upward. In September, Realme launched its V3, […]
Saudi Arabia’s Lucid Motors has unveiled Lucid Air, its first production electric car, that rivals Elon Musk’s Tesla Model S in the market. The pure-electric luxury sedan was launched from the company’s Silicon Valley headquarters on Thursday, with deliveries expected to start in spring 2021. A part of the project, amounting to $1 billion, was […]
