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Business Strategy Strategic Alliances

  • LONDON, May 18- In February 2016, Helga Kern boarded a plane to Iran, registered with the depository to trade stocks and within weeks opened a broker account and started buying shares, all with the aim of launching an Iran fund for Western investors. But on the eve of Friday's presidential election in Iran, Kern, who is a managing partner at Swiss fund advisory firm KK...

  • RIYADH, May 18- Saudi Arabia's Public Investment Fund on Wednesday announced the launch of a state-owned military industrial company aimed at contributing more than 14 billion riyals to the Kingdom's gross domestic product by 2030.. The move could alter decades of practice in which Saudi Arabia- one of the world's largest buyers of foreign arms- and other Gulf...

  • DUBAI, May 18- Saudi Arabia on Wednesday announced the launch of a Saudi Company for Military Industries aimed at providing up to 50,000 jobs by 2030, state-owned Ekhbariya TV reported. Saudi Arabia is one of the world's largest buyers of foreign arms, and the kingdom, like other Gulf states, has for decades recycled a major part of its oil wealth back into Western...

  • BEIJING, May 14- Germany warned on Sunday it will not sign a joint statement at China's Belt and Road forum if a pact does not include guarantees on free trade and fair competition, the German minister of economic affairs and energy said. The remarks by Brigitte Zypries came as leaders from 29 countries gathered for the forum. Chinese President Xi Jinping has...

  • BEIJING, May 12- Wilmar International Ltd said on Thursday it would consider listing its operations in China, its biggest market, as part of a major restructuring following the release of its quarterly results. The world's largest palm oil processor first entered China in 1993 through a joint venture with Top Glory Holding Co. In a 2016 annual report, it said it...

  • The move could affect wireless carriers including AT&T Inc and Verizon Communications Inc, which could be hurt by additional subscriber losses, said New Street Research analyst Jonathan Chaplin. The agreement could help pave the way for a merger between Charter and Comcast in the future, New Street Research's Chaplin said. Charter's shares were down 2...

  • Reuters reported on Sunday that the companies were close to announcing an agreement that would speed up their entry into the highly competitive and over-saturated market for mobile service in the United States. The material transactions may include acquisitions, investments or joint ventures that have a value of more than $200 million.

  • *Startup of first UAE nuclear reactor delayed by months. *UAE nuclear operator Nawah struggling to get licence. When the deal was negotiated in 2008-09, the APR1400 reactor model that KEPCO offered in Abu Dhabi existed on paper, but the first model of the new series was set to go online at South Korea's Shin Kori nuclear station in 2013, well ahead of the planned...

  • CHICAGO, May 1- Monsanto Co has terminated an agreement to sell its Precision Planting LLC farm equipment business to machinery maker Deere& Co, the companies said on Monday, ending a legal fight with antitrust authorities over the deal. The U.S. Department of Justice last August filed a lawsuit to block the sale, arguing the deal could make it more expensive for...

  • CAPE CANAVERAL, Fla., May 1- A SpaceX Falcon 9 rocket lifted off from Florida on Monday, carrying the company's first satellite for the U.S. military, and breaking a 10- year monopoly held by a partnership of Lockheed Martin and Boeing. Musk battled for years to break the monopoly on the military's launch business held by United Launch Alliance, a partnership of...

  • LONDON, April 25- Jimmy Wales, the founder of online encyclopaedia Wikipedia, has launched a website aimed at countering the spread of fake news by bringing together professional journalists and a community of volunteers and supporters to produce news articles. The new platform, called Wikitribune, will be free to access and carry no advertising, instead...

  • ZURICH, April 25- ABB has sealed a collaboration agreement with International Business Machines Corp, the Swiss engineering company said on Tuesday, the latest step in its efforts to ramp up its presence in digital technology and the internet of things. "This powerful combination marks truly the next level of industrial technology, moving beyond current...

  • NEW YORK, April 24- GE Power, a division of General Electric Co, has signed a services deal with Algerian utility Sonelgaz SPE valued at more than $3 billion, the largest services agreement ever for GE Power and one that creates hundreds of jobs in Algeria, GE said on Monday. Under the 20- year contract with the subsidiary of Sonelgaz SPE, GE will train more than 1,000...

  • NEW YORK, April 24- GE Power, a division of General Electric Co, has signed a services deal with a subsidiary of Algerian utility Sonelgaz valued at more than $3 billion, the largest such agreement ever for GE Power, GE said on Monday. GE was able to expand the deal after its acquisition of Alstom's power and grid businesses in 2015. "The service agreement, and digital,...

  • NEW YORK, April 24- GE Power, a division of General Electric Co, has signed a services deal with a subsidiary of Algerian utility Sonelgaz valued at more than $3 billion, the largest such agreement ever for GE Power, GE said on Monday. "The service agreement, and digital, will cover the total plant, everything from the gas turbines to the rest of the equipment," Steve Bolze,...

  • MEXICO CITY, April 20- Mexican state-run oil company Pemex plans a second deepwater "farm-out" joint venture in the Maximino and Nobilis areas in the Gulf of Mexico where super light crude has been found near the U.S. border, two people familiar with the matter said this week. The people said Pemex will likely seek approval in June from the National Hydrocarbons...

  • TOKYO, April 20- Western Digital Corp, the U.S. partner of Toshiba Corp in a semiconductor venture, is in talks with Japanese government-backed investors and would consider a joint bid with them for the chip business, a senior official said on Thursday. "We want to find a way to ensure we are aligned with INCJ and DBJ," Mark Long, chief financial officer, told Reuters in an...

  • TOKYO, April 20- Western Digital Corp, the U.S. partner of Toshiba Corp in a semiconductor venture, is in talks with state-backed fund Innovation Network Corp of Japan and the Development Bank of Japan and would consider a joint bid with them for the chip business, a senior official said on Thursday. "We want to find a way to ensure we are aligned with INCJ and DBJ," Mark...

  • April 19- Verily, Alphabet Inc's life sciences business, said it was launching a four-year study with about 10,000 participants to understand how people transition from being healthy to becoming sick, and to identify additional risk factors for diseases. Verily is partnering with Duke University and Stanford Medicine in the United States to enroll...

  • SHANGHAI, April 18- Audi AG and its China joint-venture partner FAW Group will produce and sell five "e-tron" plug-in cars in China over the next five years, part of a global push to boost sales of all-electric battery and plug-in hybrid vehicles. As part of this agreement, the two companies recently began producing in China the first of the five planned cars- a...