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Saturday April 20, 2019
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April 19, 2019
Emirates introduces scheduled service to Riyadh
DUBAI — Emirates will be providing more options and choice for its customers in Riyadh with the introduction of the first scheduled Airbus A380 service to the capital city, effective April 21. Riyadh will be the 51st destination to join the Emirates A380 network.Flight EK 817/818, currently operated by a Boeing 777-300ER, will now be operated by the iconic and highly popular Emirates A380. The Emirates A380 aircraft will be ...
April 19, 2019
Airbus sells longer-range A321, expects quick end to Boeing crisis
TOULOUSE, France — Airbus sales chief Christian Scherer said it is selling longer-range versions of its A321, while signaling a shift away from chasing market share at any cost and predicting Boeing will emerge quickly from the grounding of its rival 737 MAX. Scherer, who took on the top sales role in September, told Reuters that Airbus is seeing more demand for longer-range versions of roughly 200-seat planes previously used for ...
April 19, 2019
Uber's self-driving unit valued at $7.25bn in new investment
SAN FRANCISCO — Uber's autonomous vehicle unit has raised $1 billion from a consortium of investors including SoftBank Group Corp, giving the company a much-needed funding boost for its pricey self-driving ambitions on the eve of its public stock offering. Uber Technologies Inc said on Thursday that the investment values its Advanced Technologies Group, which works to develop autonomous driving technology, at $7.25 billion. SoftBank will invest $333 million from its ...
April 19, 2019
Tesla's Elon Musk, SEC get another week to work out deal on Twitter use
NEW YORK — Tesla Inc Chief Executive Elon Musk and the US Securities and Exchange Commission will get another week to settle a dispute over Musk's use of Twitter, a federal judge ruled Thursday. US District Judge Alison Nathan in Manhattan extended the deadline by one week to April 25, in response to a Thursday court filing where both sides requested the extension and said "discussions are ongoing." Nathan had been asked ...
April 19, 2019
Coming soon to China: The car of the future
SHANGHAI — Global automakers are positioning for a brave new world of on-demand transport that will require a car of the future — hyper-connected, autonomous, and shared — and China may become the concept's laboratory. With ride-hailing services booming and car-sharing not far behind, the need for vehicles tailored to these and other evolving mobility solutions is one of the hottest topics among global automakers gathered for this week's Shanghai Auto ...
April 19, 2019
US wins WTO ruling against China grain import quotas
GENEVA — The United States won a World Trade Organization (WTO) ruling on Thursday against China's use of tariff-rate quotas for rice, wheat and corn, which it successfully argued limited market access for US grain exports. The case, lodged by the Obama administration in late 2016, marked the second US. victory in as many months. It came amid US-China trade talks and on the heels of Washington clinching a WTO ruling ...
April 18, 2019
WRAPUP 3-Jet Airways shares plunge, rivals race to grab grounded carrier's slots
MUMBAI/NEW DELHI — Jet Airways Ltd shares plunged on Thursday, battered by fears about whether the grounded Indian airline would fly again, even as carriers like rival SpiceJet rushed in to plug a supply gap in the wake of their rival's demise. Once India's largest private airline, Jet halted all flight operations indefinitely on Wednesday evening after lenders led by State Bank of India declined to extend more funds to keep ...
April 18, 2019
Tech startups Pinterest, Zoom soar in Wall Street debut
NEW YORK — Pinterest got off to a flying start on Wall Street Thursday in the market debut for the San Francisco-based visual discovery service, a positive sign for the wave of Silicon Valley firms planning stock listings. Pinterest shares leapt 28 percent in early afternoon trade at $24.16 after its initial public offering (IPO) which raised some $1.4 billion. The jump was a positive sign for other venture-backed Silicon Valley firms ...
April 18, 2019
Ma’aden makes first international acquisition to bolster market share in Africa
RIYADH —Saudi Arabia’s largest mining company, Ma’aden, will make its first international acquisition with the purchase of an African Fertilizer distribution company that is due to be completed by September for an undisclosed fee. The publicly-listed Saudi Arabian Mining Company will acquire an 85% stake in the Mauritius-based Meridian Group in an all cash deal that will provide one of the Middle East’s largest phosphate producers with 3,000 staff and a ...
April 18, 2019
Iraqi deputy prime minister opens first Iraqi bank branch in Saudi Arabia
RIYADH — The first Iraqi bank to open a branch in Saudi Arabia was officially opened Thursday by Dr. Fuad Hussein, deputy prime minister and finance minister of Iraq. The wholly government-owned bank, which holds 80% market share in Iraq, has opened its first international branch office in Al-'Olayya District of Riyadh and will start its operations soon. The Deputy Prime Minister was joined by Ahmed Al Khulaifi, governor of SAMA, Turki ...
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