Bloomberg Future Retail Ltd., India’s biggest department store chain that gained from the government’s surprise currency clampdown, still has room to extend the rally that’s more than doubled its market value this year. The shares of the food-to-fashion retailer are set to rally 22 percent in the next 12 months, according to the average analyst price target compiled by ...
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India steel output to more than double by 2031
Bloomberg Steel mills in India are set to churn out metal at a rapid pace over the next decade and a half with output forecast to more than double bolstered by a growing economy and increasing urbanization, according to the Indian Steel Association. Shares of producers rose in Mumbai. Production is set to climb 10 percent to 12 percent ...
Read More »VW plans all-electric car for China next year
Bloomberg Volkswagen, Europe’s biggest automaker, plans to launch its first pure-electric car in China next year as Beijing steps up pressure on the industry to promote alternatives to gasoline. The announcement on Tuesday comes on the eve of the Shanghai auto show, which showcases industry efforts to create electric models with consumer appeal. General Motors Co.’s Buick unit and ...
Read More »Apple set for iPhone overhaul for 10th anniversary
Bloomberg Ten years after Steve Jobs held up the original iPhone to a gushing San Francisco crowd, Apple Inc. is planning its most extensive iPhone lineup to date. Apple is preparing three iPhones for launch as soon as this fall, including upgraded versions of the current two iPhone models and a new top-of-the-line handset with an overhauled look, according ...
Read More »Germany venture capitals on hunt for software startups
Bloomberg Despite a lack of big consumer deals, and Berlin losing out to London as the European hub of venture capital, German investors have notched an up-tick in deals over the first quarter and are on the hunt for software startups. Venture capital firms invested $467 million across 87 equity deals in German-based startups in the first quarter, according ...
Read More »Trump seeks shift in tech outsourcing visa allotments
Bloomberg President Donald Trump was expected to take aim at information-technology outsourcing comp- anies on Tuesday when he orders a review of H-1B visa programs to favor more skilled and highly paid applicants. An administration official who briefed reporters in advance named Tata Consultancy Services, Cognizant Technology Solutions Corp. and Mphasis Corp. as examples of outsourcing companies that would ...
Read More »Post Holdings to buy Weetabix in $1.8bn deal with Bright Food
Bloomberg US cereal company Post Holdings Inc. agreed to buy Weetabix Ltd. from Bright Food Group Co. of China for 1.4 billion pounds ($1.8 billion), adding the British breakfast staple to a portfolio that includes Grape Nuts and Honey Bunches of Oats. The deal for the maker of oval-shaped cereal bricks gives Post a stronger presence in the UK, ...
Read More »Abu Dhabi top fintech hub in MENA region
ABU DHABI / WAM Abu Dhabi with the Abu Dhabi Global Market (ADGM) has been ranked as the top FinTech Hub for the MENA region in the latest Global FinTech Hubs Review, ‘A Tale of 44 Cities’, by Deloitte in partnership with the Global FinTech Hubs Federation. This special FinTech Hubs review was released at the 2017 Innovate Finance ...
Read More »Abu Dhabi UPC to unveil development projects at CityScape
ABU DHABI / WAM The Abu Dhabi Urban Planning Council (UPC), is planning to showcase a range of important development projects in Abu Dhabi, unveil latest development plan of Zayed City in Abu Dhabi and media identity of the project, during first day of CityScape Abu Dhabi 2017. The event will start on Tuesday at ADNEC. Visitors to UPC ...
Read More »Saudi to develop 30 solar, wind projects over next 10 years
Bloomberg Saudi Arabia will develop 30 solar and wind projects over the next 10 years as part of the kingdom’s $50 billion program to boost power generation and cut its oil consumption. The world’s biggest exporter of crude oil will produce 10 percent of its power from renewables by 2023, Energy Minister Khalid Al-Falih said at a conference. It ...
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