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Business Strategy Strategic Alliances

  • RIO DE JANEIRO, July 4- Brazil's state-controlled oil company Petróleo Brasileiro SA has teamed up with China National Petroleum Corp to complete construction of a petrochemical compound in Rio de Janeiro that was ensnared in a massive corruption scandal, O Globo newspaper reported on Tuesday. According to Globo, which cited a person with knowledge of the...

  • DOHA, July 4- Qatar announced plans for a steep rise in Liquified Natural Gas production capacity on Tuesday that suggested it was ready for a protracted dispute with Gulf neighbors, but Doha said it was doing all it could to reach agreement. Saudi Arabia, the United Arab Emirates, Egypt and Bahrain were due to meet on Wednesday to decide whether to continue...

  • DOHA, July 4- Qatar announced plans for a steep rise in Liquified Natural Gas production capacity on Tuesday that suggested it was ready for a protracted dispute with Gulf neighbours, but Doha said it was doing all it could to reach agreement. Saudi Arabia, the United Arab Emirates, Egypt and Bahrain were due to meet on Wednesday to decide whether to continue...

  • SEOUL, June 29- South Korean energy conglomerate SK Group signed a memorandum of understanding with General Electric on Thursday to jointly develop U.S. shale gas fields in a bid to expand in the U.S. shale gas sector. The partnership with GE will help SK Group bring in U.S. liquefied natural gas to South Korea as well as onsell it to other countries amid growing U.S.

  • *Italy set to rescue Monte dei Paschi, liquidate two ailing banks. MILAN, June 27- One of the first things Andrea Ricci did when he was promoted to head the new problem loan division at Italy's Banca Nazionale del Lavoro this year was to launch a recruitment campaign. Instead of the lawyers that have traditionally dominated loan recovery, Ricci hired as his No.2 a...

  • 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...

  • ESTORIL, Portugal, June 20- Norwegian utility Statkraft has found a way to produce biofuel from wood chippings and other solid organic waste, which it says replicates in minutes a process that made crude oil underground over millions of years. Statkraft and Swedish forestry group Sodra have formed a joint venture called Silva Green Fuel, which will make an...

  • June 19- Tesla Inc is close to an agreement to produce its electric cars in China for the first time and gain better access to the world's largest auto market, Bloomberg reported, citing people familiar with the matter. The electric carmaker, whose revenue from China tripled to more than $1 billion last year, would need to set up a joint venture with at least one local...

  • The agreement will start in January 2019 and will be for the supply of LNG from Qatar Liquefied Gas Company Limited, a joint venture between Qatar Petroleum which holds 70 percent and Shell with the remaining 30 percent. The LNG will be delivered to either the Dragon LNG Terminal in Britain or the Gate LNG Terminal in the Netherlands, Qatargas said in a statement,...

  • NEW YORK, June 16- U.S. technology company The Bitfury Group said on Friday it had formed a strategic partnership with advisory firm Risk Cooperative to use the blockchain digital ledger in the $60 billion insurance broking market. "Blockchain technology can bring transparency and security to the insurance industry, and can be a catalyst for new insurance...

  • NEW DELHI, June 15- BP and Reliance Industries said on Thursday they would invest $6 billion to boost India's gas output from an east coast block and expanded their tie-up to feed the South Asian nation's rising fuel and renewable energy demand. India is replacing China as the driver of fuel demand growth globally. The International Energy Agency expects India...

  • *Businesses under scrutiny include Spain, India. LONDON, June 15- British insurer Aviva plans to launch a new product to cover small and medium-sized businesses against cyber attacks later this year as part of an expansion of its specialist insurance division, its chief executive for UK insurance said. Aviva, which made 3 billion pounds of operating profit in...

  • *State-backed fund in talks to team up with Bain Capital- sources. TOKYO, June 9- Toshiba Corp said on Friday it wasn't convinced by an effort by Western Digital Corp CEO Steve Milligan to win the Japanese conglomerate's backing for the U.S. tech firm's bid for Toshiba's highly prized chip unit. The Japan- backed consortium is competing with U.S. chipmaker Broadcom...

  • *Bain in talks with Japan state fund- sources. TOKYO, June 9- Bain Capital and a Japanese state-backed fund are in talks about teaming up to bid for Toshiba Corp's prized chip unit, sources familiar with the matter said. The current consortium led by the Japan Innovation Network Corp fund is one of two frontrunners in the race for the world's second biggest producer...

  • TOKYO, June 9- Bain Capital and a Japanese state-backed fund are in talks about teaming up to bid for Toshiba Corp's prized chip unit, sources familiar with the matter said. The U.S. private equity firm would replace rival KKR& Co LP as the main partner of the state-backed fund and would be a minority investor in the consortium under the plan being discussed, one of the...

  • FRANKFURT, June 9- European broadcasters TF1, ProSiebenSat.1 and Mediaset plan to set up a joint trading platform for digital video advertising to appeal to media agencies planning continent-wide campaigns. The joint venture, named European Broadcaster Exchange, will be based in London, Germany's ProSieben said in a statement on Friday, without disclosing...

  • *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.

  • *TUI says remains open to partnerships, joint ventures. FRANKFURT, June 8- Abu Dhabi- based Etihad Airways said on Thursday it had pulled out of talks with TUI Group, Europe's largest tour operator, aimed at creating a new joint venture holiday airline. After all, the aviation sector is characterized by overcapacity in Germany, "TUI's executive board member...

  • TOKYO, June 8- Tokyo Electric Power Company Holdings and Chubu Electric Power Co said on Thursday they aim to cut costs by more than 100 billion yen a year within five years after combining their fossil fuel power plants under their JERA Co joint venture. The two companies, which had agreed on the integration in March, signed a contract for this on Thursday.

  • CAPE CANAVERAL, Fla., June 6- Elon Musk's Space Exploration Technologies Corp will fly its first mission for the U.S. Air Force in August when it launches the military's X-37B miniature spaceplane, Air Force Secretary Heather Wilson said on Tuesday. "SpaceX will be sending the next Air Force payload up into space in August," Wilson said during webcast testimony...