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Business Strategy Strategic Alliances

  • *Deal with Malaysia's Petronas helps diversify Saudi Aramco. SINGAPORE, March 20- Saudi King Salman's lavish tour of Asia, arriving in each country on a golden escalator with 400 tonnes of luggage, had a hardnosed marketing mission- to cement the kingdom's place as leading oil supplier to the world's biggest consumer region. The string of deals inked on his...

  • The plan is being spearheaded by Marc Lore, Wal-Mart's e-commerce chief, who joined the Bentonville, Arkansas- based company from retail upstart Jet.com, which it acquired for more than $3 billion in August. The venture, called Store No. 8, will work with startups that specialize in areas that include robotics, virtual and augmented reality, machine learning and...

  • *Deal with Malaysia's Petronas helps diversify Saudi Aramco. SINGAPORE, March 20- Saudi King Salman's lavish tour of Asia, arriving in each country on a golden escalator with 400 tonnes of luggage, had a hardnosed marketing mission- to cement the kingdom's place as leading oil supplier to the world's biggest consumer region. The string of deals inked on his...

  • CARACAS/ HOUSTON, March 16- Venezuelan state oil company PDVSA has offered Russian counterpart Rosneft a stake in a joint venture in the country's Orinoco Belt extra-heavy crude area, five industry sources said, in a sign of the Latin American nation's dire economic situation and Moscow's growing muscle there. A deal would have California- based Chevron...

  • NEW YORK, March 14- China's Anbang Insurance Group said it is not investing in a flagship Manhattan office tower owned by the family of Jared Kushner, U.S. Anbang Insurance Group was named in a Bloomberg report on Monday as a possible investor in a $4 billion deal to buy the 41- floor building located at 666 Fifth Avenue, according to a copy of the agreement that was...

  • The MOU is with Saudi Arabia's National Industrial Clusters Development Program. Meanwhile, state-run Saudi Aramco has signed MOUs with five Japanese entities during a business forum that both nations hosted on Tuesday, coinciding with a visit by Saudi Arabia's King Salman this week. In addition, Aramco and state-run Japan Oil, Gas and Metals National Corp...

  • LONDON, March 13- Iran has signed a $1 billion deal with private investors to develop Mehdiabad, one of the world's largest zinc mines, which it expects to go on stream in the next four years and produce 800,000 tonnes of zinc concentrate per year. The state-owned Iranian Mines and Mining Industries Development and Renovation Organisation said in a weekend...

  • LONDON, March 13- Iran has signed a $1 billion deal with private investors to develop Mehdiabad, one of the world's largest zinc mines, which it expects will go on stream in the next four years and produce 800,000 tonnes of zinc concentrate per year. The Iranian Mines and Mining Industries Development and Renovation Organisation said in a weekend statement it...

  • LONDON, March 13- Iran has signed a $1 billion deal with private investors to develop Mehdiabad, one of the world's largest zinc mines, which it expects will go on stream in the next four years and producing 800,000 tonnes of zinc concentrate per year. The Iranian Mines and Mining Industries Development and Renovation Organisation said in a weekend statement it...

  • *India set to become the world's No.3 car market by 2020. The announcement, which confirms a Reuters story from Thursday, comes as both automakers look to hit the reset button in India after falling behind more nimble rivals such as Maruti Suzuki and Hyundai Motor Co.. For VW, the tie-up would provide an opportunity to make more headway into India, which analysts say...

  • BERLIN, March 9- Lockheed Martin Corp and Europe's MBDA will set up a new joint venture to manage a multibillion-euro missile defence programme given German concerns about MBDA's ability to execute the project on its own, sources familiar with the plans said on Thursday. The ministry told lawmakers on Tuesday it would not complete a contract with MBDA for the...

  • BERLIN, March 9- Lockheed Martin Corp and Europe's MBDA will set up a new joint venture to manage a multibillion-euro missile defense program given German concerns about MBDA's ability to execute the project on its own, sources familiar with the plans said on Thursday. The ministry told lawmakers on Tuesday it would not complete a contract with MBDA for the...

  • March 7- British media companies BBC Worldwide and ITV Plc launched BritBox in the United States on Tuesday, a new subscription-based video streaming service that includes iconic British shows including "Blackadder," " Fawlty Towers" and "East Enders." BBC Worldwide is the main commercial arm and a unit of the BBC. BritBox will also compete with Amazon's Prime Video...

  • SAO PAULO, March 6- A unit of Brazil's TRX Holding Investimentos has entered a joint venture to buy and renovate multi-family housing projects in the United States, hoping to profit from the residential rental market in the world's largest economy. TRX and U.S.-based Cornerstone Properties Ltd will contribute equally to the venture, making an initial...

  • MEXICO CITY, March 6- Mexico's oil regulator voted on Monday to begin the process of choosing a partner for national oil company Pemex to develop its Ayin-Batsil field, the second such joint venture as Mexico seeks to reverse a dozen years of declining crude output. Pemex will maintain a 50 percent stake in the shallow water project but will not be its operator,...

  • MEXICO CITY, March 6- Mexico's oil regulator voted on Monday to launch the process to pick a partner for national oil company Pemex to develop its Ayin-Batsil shallow water field, the second such joint venture sought for the Mexican oil giant.

  • MEXICO CITY, March 3- The first-ever joint venture in Mexico's deep waters could begin drilling its first oil well by the end of this year, a top official with national oil company Pemex said on Friday. In December, Pemex teamed up with Australian mining and oil giant BHP Billiton Ltd to develop its Trion block in the Gulf of Mexico, a partnership that was sealed on...

  • MUMBAI, Feb 28- India's Tata Sons has agreed to pay NTT DoCoMo $1.18 billion to buy out the Japanese firm's stake in a telecoms joint venture, paving the way for the settlement of a long-standing dispute days after a new chairman took charge at the Indian conglomerate. Tata Sons said it reached an out-of-court agreement with DoCoMo to enforce a decision taken by a...

  • KUALA LUMPUR, Feb 28- Malaysian companies and their Saudi Arabian counterparts signed on Tuesday preliminary agreements for seven deals worth more than $2 billion, as the oil-rich gulf nation seeks to build ties and investment opportunities in Asia. The deals, valued at 9.74 billion ringgit, will cover joint ventures and cooperation in several sectors...

  • Trump has threatened to slap hefty taxes on imports from Mexico to the United States and to scuttle the North American Free Trade Agreement with Mexico and Canada if it cannot be renegotiated to benefit U.S. interests. Femsa, which said it would raise capital expenditure modestly this year to $1.3 billion, flagged uncertainty over NAFTA, foreign direct...