Sunday, 16 June 2019

Tag Archives: investment

Uber wins $1bn investment from Toyota

TOKYO: Japanese car giant Toyota and investment fund SoftBank Vision Fund on Friday unveiled an investment of $1 billion in US company Uber to drive forward the development of driverless ridesharing services. The latest cash injection, expected to close in the third quarter this year, came amid fevered anticipation of ...

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Japan to enhance engagement with Pakistan for more investment

TOKYO: Mitsubishi Corporation Chief Executive Kimihide Ando on Tuesday said that the Government of Japan had decided to increase its engagement with Pakistan and support its companies to increase their investment in the country. In a meeting with Prime Minister Imran Khan along with a delegation here at PM Office, Kimihide ...

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Huawei founder: We will shift our investment from the US to the UK

LONDON: BEIJING: The founder of Huawei commented on the arrest of his daughter, Meng Wanzhou, Huawei chief financial officer, noting that he believes that arrest was politically motivated. In his first international broadcast interview since his daughter arrest, Ren accused the US of forcing other countries into the campaign against Huawei. “There’s no way ...

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Saudi crown prince signs $20 billion in agreements with Pakistan

ISLAMABAD: Pakistan and Saudi Arabia usher in a new era of bilateral relationship by signing investment deals worth more than $20 billion during visit of Saudi Crown Prince Mohammed bin Salman, who arrived in Islamabad on Sunday. The unprecedented Saudi investment is seen as a ‘game changer’ and major boost ...

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Nestle raises stake in food allergy drug developer Aimmune

LONDON: The health science arm of Nestle SA will pay $98 million to raise its stake in Aimmune Therapeutics Inc, the drug developer said, as it prepares to submit a marketing application for its peanut allergy drug by the end of the year. The deal raises Nestle’s stake to about ...

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Currency crisis in Turkey – Qatar offers aid to Ankara

ISTANBUL: The United States on Wednesday ruled out removing steel tariffs that have contributed to a currency crisis in Turkey even if Ankara frees a U.S. pastor, as Qatar pledged $15 billion in investment to Turkey, supporting a rise in the Turkish lira. The White House stance appeared to give ...

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Beijing eases investment curbs as clash with US looms

BEIJING: China is ending limits on foreign ownership in auto manufacturing, insurance and other fields but didn’t directly address complaints about trade and technology that are fueling conflict with Washington. The change, announced late on Thursday, had been sought by Washington, Germany and other trading partners. They complain Beijing blocks ...

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ASOS ups investment as sales grow 27 percent

LONDON: Online fashion retailer ASOS said it would step up its investment in logistics and distribution after reporting a 27 percent rise in first-half sales on Wednesday and forecasting similar growth in the second half. The British company, which targets twenty-something shoppers, reported retail sales of 1.13 billion pounds, and ...

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London was top destination for tech funding in 2017

LONDON was the top city in Europe for technology investment last year, with more funding going into companies in the British capital than into firms based in Paris, Berlin and the next seven cities combined, data showed on Friday. Tech firms in London attracted 2.45 billion pounds ($3.3 billion) in ...

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Pakistan allows yuan-based trade with China

KARACHI: Pakistan’s central bank has allowed the Chinese yuan to be used for bilateral trade and investment activities, a move which could replace the US dollar for transactions in the strategic CPEC projects. The State Bank of Pakistan (SBP) said on Monday that all arrangements for using the Chinese currency ...

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