Business

Reliance Industries joins hands with Google, Facebook to set up digital payment network

Editorial Bureau February 27, 2021

NEW DELHI (INDIA) – Reliance Industries of India has tied up with Facebook Inc, Google and Infibeam to establish a national digital payment network, reported the Economic Times newspaper on Saturday. Last year, India’s central bank invited companies to forge new umbrella entities

Business

Electric scooter manufacturer Niu in discussions with Gojek regarding supply: CEO

Editorial Bureau February 27, 2021

SHANGHAI/SINGAPORE (CHINA) – Electric scooter maker Niu Technologies is holding talks to supply its vehicles to Southeast Asian ride-hailing firm Gojek to increase market share in the region, said its CEO. Niu manufactures scooters and motorcycles powered by lithium-ion batteries and 95% of its sales by unit are in China. It has been sending some […]

Business

Oil slips over dollar strength and OPEC+ supply expectations

Editorial Bureau February 26, 2021

LONDON (UK) – Oil prices fell on Friday as bond price rout led to gains in the US dollar while crude supply is expected to rise in response to prices climbing above pre-pandemic levels. Brent crude futures for April, which expire on Friday, fell 99 cents, or 1.4%, to $65.89 a barrel by 1203 GMT. […]

Business

BA-owner urges for COVID health passes following record $9 billion loss

Ren Leen February 26, 2021

LONDON (UK) – British Airways-owner IAG is counting on digital health passes to help spur a travel recovery this summer, after the pandemic pushed it to a record 7.4 billion euro ($9 billion) loss last year, when it ran just a third of normal flights. Tighter travel restrictions over the last two months have threatened […]

Business

Airbus declares emissions data after climate pressure

Editorial Bureau February 26, 2021

PARIS (FRANCE) – European planemaker Airbus on Friday joined a growing list of companies outlining the environmental impact of their products, as aviation aims to reshape itself after the coronavirus crisis. Major companies are under increasing pressure from investors and climate change activists to report the emissions that result when customers use their products,

Business

Reeling from US curbs Huawei eyes foraying into EV market

Editorial Bureau February 26, 2021

HONG KONG/BEIJING (CHINA) – Chinese telecoms giant Huawei is mulling manufacturing electric vehicles under its own brand and some models could be rolled out this year, said sources. This comes as the firm is exploring a strategic shift after being battered by US curbs. The firm is holding discussions with state-owned Changan Automobile and other […]

Business

Boeing planned to change 777 engine covers before failures: WSJ

Editorial Bureau February 25, 2021

NEW YORK (US) – Boeing Co was aiming to replace engine covers on its 777 jets months ahead when a few recent serious failures occurred, the Wall Street Journal reported on Thursday, citing an internal Federal Aviation Administration document. The US Federal Aviation Administration (FAA) on Tuesday gave orders for immediate inspections of 777s with […]

Business

British firm Genus predicts challenges as it restocks depleted China pig farms

Editorial Bureau February 25, 2021

BEIJING (CHINA) – UK-based livestock genetics company Genus has predicted potential short-term obstacles in its bid to help restock the massive pig farming sector in China which faced a surge in disease outbreak over the winter, said its CEO on Thursday. The firm, which is a supplier to a third of China’s top 50 producers, […]

Business

Asda says 5,000 jobs under threat, post Issa bros takeover

Editorial Bureau February 25, 2021

LONDON (UK) – British supermarket group Asda said on Thursday 5,000 jobs were under threat of a restructuring announced a week after the Issa brothers and private equity company TDR Capital seized control of the business. The billionaire brothers and TDR finished the purchase of a majority holding in Asda from Walmart on February 16 […]

Business

Daimler truck unit to prioritise CO2-neutral technology

Ren Leen February 25, 2021

BERLIN (GERMANY) – German luxury carmaker Daimler said on Wednesday that its plan for a spin off, with regard to Daimler Trucks will pave the way for the world’s largest truck and bus maker to become more profitable and put more focus on developing technologies to reduce carbon emissions. Daimler said in a statement that […]