Bloomberg In September, Jaguar Land Rover (JLR) unveiled a new development facility near Coventry in central England, equipped with technologies like 3-D printing and dedicated to a futuristic vision dubbed “Destination Zeroâ€: No emissions, accidents or congestion. Early next month, Britain’s biggest auto manufacturer plans to add another goose egg: Zero production. The maker of luxurious Jaguar sedans and rugged ...
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iPhone display supplier sees OLED smartphone deluge
Bloomberg Japan Display Inc (JDI), the struggling supplier of mobile screens to Apple Inc, says it has about a year before it needs to decide on whether to take a plunge on next-generation organic light-emitting diode displays. While OLED panels are slimmer, more energy-efficient and offer higher contrast, JDI’s liquid crystal displays (LCD) will retain a price advantage that keeps ...
Read More »South Korean officials to discuss developing nation status with US
Bloomberg South Korean trade officials will discuss the country’s developing-nation status at the World Trade Organization with American counterparts this week, Yonhap News Agency reported. Trade Minister Yoo Myung-hee will reach out to the US, and the issue will be addressed at an economy ministers’ meeting soon, the report said, citing Finance Minister Hong Nam-ki. In July, Trump accused some ...
Read More »Avoid buying palm oil from Malaysia, says Indian group
Bloomberg The trade spat between India, the world’s biggest palm buyer, and Malaysia seems to be escalating, with an influential processors’ group in Mumbai asking its members to refrain from buying the tropical oil from the second-largest producer. Malaysian PM Mahathir Mohamad last month told the United Nations that India “invaded and occupied†Kashmir. Since then, many Indian buyers of palm ...
Read More »Collapse in coal prices spurring distress for Indonesian miners
Bloomberg The global collapse in coal prices this year has dealt a particularly heavy blow to miners in Indonesia, the top exporter and one of the largest producers of the fuel. Bonds from the country’s financially weak miners have suffered more than peers elsewhere in Asia due to a lack of diversification and state backing that many competitors enjoy. Prices ...
Read More »Coffee may get cheaper with flood of robusta
Bloomberg The world has more than enough coffee, and Indonesia is looking to add to the glut. The coffee industry in the No. 3 producer of robusta is on a mission to boost output at a time when production is soaring and prices are tumbling. Farmers are expected to reap 50%-60% more beans within the next five years, said Pranoto ...
Read More »Hong Kong sees best weekend for home sales since April
Bloomberg Hong Kong Chief Executive Carrie Lam’s plan to relax mortgage rules for first-time buyers appears to have already spurred sentiment, with the city recording its best weekend for home sales since April. The 10 biggest housing estates tracked by Centaline Property Agency Ltd recorded 20 sales, more than three times the weekend before. That’s despite violent protests that have ...
Read More »First Tesla car-share operation in region comes to Abu Dhabi
ABU DHABI / WAM The UAE-founded ‘ekar’ has announced a partnership with Masdar to bring electric vehicle car-sharing to the Middle East by purchasing five Tesla models S and X for its fleet, with the vehicles available for hire from Masdar City in Abu Dhabi. “Masdar City installed first rapid charging station for electric vehicles in the Mideast,” said Yousef ...
Read More »Kuwait sees neutral zone oil pact with Saudis soon
Bloomberg Kuwait expects to sign an agreement with Saudi Arabia to restart oil production from the neutral zone along their border within 30 to 45 days, according to a person familiar with the matter. The pact, reached after months of intensive negotiations, won’t be final until it’s signed, the person said, asking not to be identified as the talks are ...
Read More »â€˜UAE’s aviation sector open to global investors’
Dubai / Emirates Business Investors are keen to capitalise on the increasing opportunities in the aviation sector globally, according to industry experts. “Over the past decade, as the global economy has improved, airlines have grown in profitability, matured in terms of employing better capacity management and cost controls, and have benefitted from the explosion in demand for passenger air travel,†...
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