Uncategorized

Bloomberg Samsung SDI Co., a battery supplier to carmakers including BMW, plans to recycle cobalt from used mobile phones as companies around the world scramble to secure supplies of the metal amid surging prices. The plan fuels a trend among battery makers to reduce dependence on the Democratic Republic of Congo as a source of cobalt. The African country — ...

Bloomberg Ford Motor Co. is spending $25 million more at its Kentucky factory to pump out more of the profitable big sport utility vehicles that are critical to funding its ambitious — and expensive — electric and self-driving vehicle plans. The investment will allow the second-largest US automaker to boost production of the new Lincoln Navigator and Ford Expedition by ...

Bloomberg Mercedes-Benz may pull out of the annual North American International Auto Show in Detroit next year, according to people familiar with the matter, as carmakers increasingly choose to unveil new products at tech shows or their own special events. Daimler AG, Mercedes’s parent, is moving towards standalone presentations of new models and technology summits like CES in Las Vegas, ...

Bloomberg Figeac-Aero has a problem that says a lot about the French economy: the Airbus supplier can’t find enough qualified people to staff its factories. Even with one in 10 workers out of a job, companies cite difficulty in hiring as one of their biggest problems as a long-awaited economic recovery takes hold. The crunch is particularly acute for Patrice ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, received on Sunday Narendra Modi, Prime Minister of India on the sidelines of the World Government Summit (WGS 2018), Sheikh Mohammed bin Rashid and Prime Minister Modi discussed boosting strategic cooperation between the two nations as well as a ...

Dubai / WAM The final designs of the Hope Probe, the Arab World’s first interplanetary mission were unveiled on Sunday at the World Government Summit in Dubai. Details of the much-discussed Mars 2117 plan, which aims to create the first human settlement on Mars, and UAE’s astronaut programme, which will train Emiratis in space exploration, were also discussed. The Mohammed bin ...

Bloomberg A Russian plane with 71 people on board crashed in the Moscow region on Sunday and prosecutors said there were no survivors. The Saratov Airlines An-148 took off from Moscow’s Domodedovo airport at 2:21 p.m. local time (6:21 a.m. EST) headed for Orsk and disappeared from radar 7 minutes later, Sergey Izvolsky, a spokesman for the Federal Aviation Authority, ...

Abu Dhabi / WAM Khalifa Industrial Zone of Abu Dhabi (KIZAD), and Shaheen Chem Investment LLC announced the signing of an agreement for the land lease of a two-phase chemical complex in the industrial zone with an expected investment of AED4 billion ($1 billion). The plant will support the UAE’s growing chemical manufacturing sector as well as supply major industrial ...

DUBAI / WAM Data for the opening month of 2018 signalled a pick-up in growth in Dubai’s non-oil private sector. The seasonally adjusted Emirates NBD Dubai Economy Tracker Index – a composite indicator designed to give an accurate overview of operating conditions in the non-oil private sector economy – rose to 56.0 in January, from December’s 14-month low of 54.7. ...

Bloomberg Walmart Inc. is in discussions to pay several billion dollars for as much as 20% of India e-commerce leader Flipkart Online Services Pvt, according to a person familiar with the matter. The world’s biggest retailer would invest in Flipkart as part of a proposed deal that would increase the startup’s valuation as high as $20 billion, said the person, ...