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One of the world’s largest food retail groups, Ahold Delhaize to acquire New York City’s online grocer FreshDirect. The Dutch grocery company Ahold Delhaize will acquire the majority share in FreshDirect, while private equity firm Centerbridge partners will buy 20% stake FreshDirect will retain its brand name and will also continue to independently operate out […]
Panasonic has signed a preliminary agreement with Nordic energy company Equinor and the industrial group Norsk Hydro to explore the possibilities for building a “sustainable and cost-effective European battery business” for electric vehicles in Northern Europe. Over the coming months these three companies will work to evaluate the market for lithium-ion batteries in Europe. Mototsugu […]
France’s best known six Asset managers have joined hands to encourage large companies in France to have at least 30% of their executive management teams made up of women by 2025. La Banque Postale Asset Management, Amundi, Axa Investment Managers, Sycomore Asset Management, as well as Natixis Investment Managers’ affiliates Mirova and Ostrum Asset Management […]
ThyssenKrupp is in talks with the German government over a steel aid package for its struggling steel unit worth at least $5.9billion (5 billion Euros) to secure its survival. Angela Merkel, The chancellor of Germany has indicated a willingness to provide financial support to secure the unit, which is used in products from wind turbine […]
After positive trial data from Pfizer and BioNTech on Vaccine, US banks are in line for windfall that widened the gap between long and short-term bond yields. Apart from big pharma, US banks are also reaping a windfall due to the news on the COVID-19 vaccine. Pfizer and BioNtech’s promise on releasing vaccine has not […]
Crude oil prices increased rapidly on Monday on hopes of vaccine against COVID-19 and joint actions by OPEC+ allies to keep grip on supply of oil. The global bench mark Brent Crude oil price hopped 9 percent to more than $43 a barrel and the stock market around the world hop in middle of an […]
Alpha Vector is looking forward to sell its bikes in overseas market with e-bicycle segment by 2025. Alpha Vector entered the e-bicycle segment in the last week in the country with its Meraki brand launch. In India, e-bicycle segment accounts only 2-3 percent of its total bicycle market. According to Alpha Vector, both domestic and […]
Johnson Controls the global leader for smart and sustainable buildings announces the launch of a new flexible service suite to its customers in Middle East and Africa. The new flexible service has more than twenty customizable options, to serve the rising remote building management needs in Middle East and Africa. OpenBlue digital technology which will […]
South Africa is to set about an ambitious economic reform agenda that has similarities with Saudi Arabia’s efforts to stimulate investments. South Africa President Cyril Ramaphosa last month revealed a plan that aims in helping the country recover from corona’s impact. This plan includes fast tracking projects and boost infrastructure spending. Like Saudi Arabia, South […]
As Europe is again stumbling under a huge spike in number of Coronavirus infections, European countries France, Germany and UK goes under lockdown. Now, with a huge spike in COVID positive numbers, 2020 is definitely turning out to be disappointing for both travelers as well as the industry stakeholders. The number of Coronavirus infections has […]
Wusool, a program for women, in the Kingdom to benefit more working women in their transportation has been updated. It is to help Saudi Arabia women in the private sector with transport cost. Wusool is backed by Saudi Human Resources Development Fund with the aim to cut cost of transportation for working women on their […]
Women participation in workforce and Saudi economy, and having women in leader position in one of the key objective of Kingdom’s Vision 2030 reform strategy. Saudi Industrial Development Fund, SIDF has made promoting women to senior positions and achieving gender parity a top priority. Among Saudi government entities, SIDF has boosted proportion of Women staff […]
