Blog List Layout

Bloomberg Oyo Hotels and Homes is raising $1.5 billion from founder Ritesh Agarwal, SoftBank Group Corp and other investors as the India lodging startup expands into foreign markets such as the US and Europe. Agarwal, 25, will spend $700 million to buy new shares in the company as part of a previously reported $2 billion plan to triple his ownership ...

Bloomberg China could be the panacea for an orange-juice industry grappling with sliding sales in developed markets, at least for low-cost producers not caught up in trade wars. Citrosuco fits that description. The Brazilian company produces twice as much as the entire Florida industry, at about a third of the cost. For decades, it has sold the commodity to well-known ...

Bloomberg This year’s railroad slump is getting worse as a slowdown in manufacturing threatens broader weakness in the US economy. There’s no bottom in sight as the decline in carloads for large US railroads widened to 5.5% in the third quarter, the biggest drop in three years, according to weekly reports from the Association of American Railroads. Shipments are down ...

Bloomberg Volvo Cars and China’s Geely plan to merge their engine operations into a standalone company, a step the Swedish automaker says will cut costs as it shifts to a fully-electrified lineup. The combined unit would supply two million diesel and gasoline-powered engines, versus the 600,000 Volvo produces, giving the two companies more scale to reduce material costs. It could ...

Bloomberg The battle for control of Osram Licht AG is set to enter a new round after Austria’s AMS AG vowed to keep fighting after a sweetened 4 billion euro ($4.4 billion) offer failed. AMS, a supplier to Apple Inc, will seek a regulator nod to raise its 19.99% stake in Osram. As the biggest shareholder in the German lighting ...

Dubai / WAM In the presence of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Expo 2020 Dubai, the UAE Ministry of Education and private educational groups in the UAE have signed commitment agreements that place school students at the heart of the next World Expo. With these commitments, ...

Dubai / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, on Sunday officially inaugurated the 39th Gitex Technology Week and the 4th edition of Gitex Future Stars at the Dubai World Trade Centre. Taking place from October 6-10, the event features 4,500 companies representing 100 countries. HH ...

Dubai / WAM DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – and DP World, UAE Region, through its subsidiary Jebel Ali Free Zone (Jafza), have signed a Collaboration Agreement that will bring warehousing solutions and logistic services to member companies registered in the DMCC Free Zone. Speaking on the occasion, ...

ABU DHABI The United Arab Emirates is celebrating two cherished and revered occasions, the latest elections for members of the Federal National Council (FNC), and the scientific achievement of the UAE’s first astronaut, Hazza Al Mansoori, who has just completed a visit to the International Space Station (ISS). The term “progressive empowerment” can be applied to both of these events, ...

Bloomberg Hyundai Motor launched India’s first electric SUV this summer with a quirky TV commercial urging millennials to “Drive Into the Future.” A few months later, the automaker finds itself on a lonesome road. In a nation of about 150 million drivers, only 130 Kona SUVs were sold to dealers through August. That slow pace is emblematic of the difficulties ...