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Business Strategy Joint Ventures

  • MINAS DE MATAHAMBRE, Cuba, July 22- A new lead and zinc mine in northwestern Cuba is on track to start production in October as part of the Caribbean island's attempt to breathe fresh life in its mining sector, the joint venture Emincar overseeing the project said this week. "We are reviving the small and medium-size mining sector in Cuba from this investment," said...

  • LONDON/ VANCOUVER, July 21- Mining giant Glencore Plc is working with a Canadian pension fund to create a standalone 50:50 joint venture for its portfolio of royalty assets, two sources with knowledge with the matter said on Friday. The sources said on Friday it was now in talks to create a 50:50 venture for the assets with Canada's Ontario Teachers' Pension Plan.

  • FRANKFURT, July 21- German industrial group Siemens will exit its Russian power-plant joint venture Interautomatika following a scandal that saw four gas turbines it sold for use in Russia turn up in Crimea, a region subject to EU sanctions on energy technology. Siemens said it had reviewed its licensing agreements with Russian companies associated with the...

  • STOCKHOLM, July 20- Sweden's Volvo Cars sold more vehicles in Europe and China in the first half that helped drive up earnings 21 percent and said it would set up a joint venture with its Chinese parent to share technology with other brands in the Geely group. Volvo Car Group, one of Sweden's biggest companies by revenue, posted operating earnings of 6.8 billion...

  • TOKYO, July 19- Toshiba Corp said it resumed blocking access by Western Digital Corp to data at their memory chip joint venture, amid a feud over the Japanese company's planned auction of the chip business. Toshiba is counting on the sale of the chip business to cover billions of dollars in cost overruns at its now bankrupt U.S. nuclear unit Westinghouse, while...

  • MOSCOW, July 11- German engineering firm Siemens has filed lawsuits against its own Russian joint venture that produces turbines, and against a Russian state firm to which the venture sold turbines, according to court documents. The lawsuits were filed on Tuesday in the Moscow city arbitration court, according to the documents seen by Reuters.

  • You're bringing together two of the leaders, "AES Chief Executive Andres Gluski told Reuters. Last week, Tesla Inc beat out privately owned Lyon Group, working with AES, and dozens of other companies for a contract to install the world's biggest grid-scale battery in Australia. AES and Siemens currently account for about 17 percent of installed energy storage,...

  • The joint venture between CIT Bank, a unit of CIT Group Inc and Allstate, known as CIT Northbridge Credit LLC, will provide revolving and term loans from $15 million to $100 million, the bank said.

  • BELGRADE, July 10- Serbian Prime Minister Ana Brnabic on Monday urged workers at a local Fiat plant to end a strike which has entered its second week, saying the country could face a hit to economic output and jobs if the dispute drags on, the Tanjug news agency reported. The carmaking joint venture based in the central Serbian city of Kragujevac is 67 percent owned...

  • HONG KONG, July 5- Tencent Holdings, China's largest social media and gaming company, agreed on Wednesday to feature its video content on the smart TVs of China's biggest television maker TCL Corp to expand its content dominance from mobile phones to living rooms. On June 6, it invested 300 million yuan for a 7.71 per cent stake in Coocaa, a smart TV subsidiary of TCL...

  • PARIS, July 5- Shares in French carmaker Renault edged up on Wednesday after Renault struck a deal to buy a 49 percent stake in Shenyang Brilliance JinBei Automobile company as part of its move to boost sales in China of light commercial vehicles. Renault shares were up 0.2 percent in early session trading, outperforming a 0.1 percent decline on France's...

  • SAO PAULO, July 4- Pfizer Inc has agreed to exit Laboratório Teuto Brasileiro SA for a token amount after failing to find a buyer for the 40 percent stake it held in the Brazilian generic drugmaking joint venture, two people with knowledge of the matter said on Tuesday. According to one of the people, the heirs of Teuto founder Walterci Melo will pay Pfizer 1 real for...

  • AMSTERDAM, June 28- A joint venture between Royal Dutch Shell and Exxon Mobil said on Wednesday it would appeal against a Dutch government plan to lower a production cap at the Groningen natural gas field by a further 10 percent. "We need to know the rules of the game," NAM director Gerald Schotman told reporters. " NAM's appeal will be heard starting July 13 at the...

  • STOCKHOLM, June 27- Volvo Cars and Swedish car safety supplier Autoliv have signed a deal with U.S. firm Nvidia Corp, best known for its graphics technology in computer games, to develop software systems for self-driving cars. A joint venture between Volvo, owned by China's Zhejiang Geely Holdings, and Autoliv will work with NVIDIA to develop systems that use...

  • *TUI says remains open to partnerships, joint ventures. *Etihad says Air Berlin leisure to remain independent. FRANKFURT/ ABU DHABI, June 8- Abu Dhabi- based Etihad Airways said on Thursday it had pulled out of talks with Europe's largest tour operator TUI Group to create a joint venture holiday airline.

  • BERLIN/ FRANKFURT, June 1- Daimler and its Chinese joint venture partner BAIC Motor Corporation agreed to upgrade the Mercedes-Benz factory in Beijing to make electric cars, the German carmaker said on Thursday. At a signing ceremony in Berlin attended by German Chancellor Angela Merkel and Chinese Premier Li Keqiang, Daimler signed a framework agreement to...

  • ABUJA, May 31- Nigeria's cabinet approved on Wednesday a plan to set up a joint venture with pharmaceutical firm May& Baker Nigeria Plc to produce vaccines, the health minister said. The company will have an initial capital of 100 million naira. Health minister Isaac Adewole told reporters the joint venture would be based in the commercial capital Lagos with the...

  • KHOBAR, Saudi Arabia, May 31- Saudi Aramco plans to build the Gulf's largest shipyard through a joint venture with three companies that it announced on Wednesday, a $5.2 billion project aimed at helping reduce the economy's reliance on oil. Aramco said it had signed a shareholder agreement with National Shipping Co of Saudi Arabia, a state-controlled firm which...

  • A shareholder agreement was signed with National Shipping Co of Saudi Arabia, a state-controlled firm which ships oil for Aramco, as well as London- listed Lamprell Plc, a United Arab Emirates- based engineering firm, and South Korea's Hyundai Heavy Industries Co.. It has previously said the project, at Ras Al Khair, will cost over 20 billion riyals.

  • DUBAI, May 31- Saudi Aramco said on Wednesday it had signed a joint venture agreement with three firms to build a shipyard on the kingdom's east coast, part of the government's drive to diversify the economy beyond oil. A shareholder agreement was signed with National Shipping Co of Saudi Arabia, a state-controlled firm which ships oil for Aramco, as well as London-...