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Business Strategy Strategic Alliances

  • The industrial group said it now had credible evidence that all four gas turbines it delivered a year ago for a project in southern Russia had been illegally moved to Crimea, confirming a series of Reuters reports. The move is embarrassing for Russia, which stands accused of disregarding EU sanctions, flouting its original agreement with Siemens and going back...

  • FRANKFURT/ MONTREAL, July 21- Canada's Bombardier and Germany's Siemens are in the final stages of talks to combine their rail operations, several sources familiar with the matter said on Friday, in a deal that would give the two added heft to compete against Chinese rail giant CRRC. Rail consolidation has been a trend over the last few years, as global companies...

  • FRANKFURT/ MONTREAL, July 21- Canada's Bombardier and Germany's Siemens are in the final stages of talks to combine their rail operations, several sources familiar with the matter said on Friday, in a deal that would give the two added heft to compete against Chinese rail giant CRRC. Siemens' supervisory board will discuss the matter at its meeting on Aug. 2, while...

  • The industrial group said it now had credible evidence that all four gas turbines it delivered a year ago for a project in southern Russia had been illegally moved to Crimea, confirming a series of Reuters reports over the past weeks. The move is embarrassing for Russia which stands accused of disregarding EU sanctions and of flouting its original agreement...

  • FRANKFURT/ MONTREAL, July 21- Canada's Bombardier and Germany's Siemens are in the final stages of talks to combine their rail operations, several sources familiar with the matter said on Friday, in a deal that would give the two added heft to compete against Chinese rail giant CRRC. Siemens' supervisory board will discuss the matter at its meeting on Aug. 2, while...

  • The industrial group said it now had credible evidence that all four gas turbines it delivered a year ago for a project in southern Russia had been illegally moved to Crimea, confirming a series of Reuters reports over the past weeks. The move is embarrassing for Russia which stands accused of disregarding EU sanctions and of flouting its original agreement...

  • 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...

  • July 21- Russia's Eurasia Drilling Company Ltd said on Thursday it would sell a 51 percent stake in the company to the world's No. 1 oilfield services provider, U.S.-based Schlumberger NV. The agreement is subject to approval by the Federal Antimonopoly Service of Russia, the company said. http://bit.ly/2uf0YgD. Schlumberger's attempt to buy a 45.65 percent...

  • MOSCOW, July 20- Roman Filippov, chief executive of Russian turbine maker Power Machines, has left his post in a "mutual agreement" with the firm, the company said on Thursday. Power Machines is controlled by Russian steel tycoon Alexei Mordashov and has a joint venture with Germany's Siemens, which has come under scrutiny because of the delivery of Siemens...

  • July 18- U.S.-based Prudential Financial Inc has entered the Indonesian life insurance market in a joint venture with a unit of CT Corp in Jakarta, the companies said on Tuesday. Prudential's Pruco Life Insurance Company unit has acquired a 49 percent stake in PT Asuransi Jiwa Mega Indonesia, the life insurance subsidiary of Indonesia- based CT Corp, the...

  • July 18- U.S.-based Prudential Financial Inc has entered the Indonesian life insurance market in a joint venture with a unit of CT Corp in Jakarta, the companies said on Tuesday. Prudential's Pruco Life Insurance Company unit has acquired a 49 percent stake in PT Asuransi Jiwa Mega Indonesia, the life insurance subsidiary of Indonesia- based CT Corp, the...

  • 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...

  • July 6- Dish Network Corp Chief Executive Charlie Ergen and Amazon.com Inc head Jeff Bezos have discussed a partnership to enter the wireless business, the Wall Street Journal reported, citing people familiar with the matter. Dish's shares were up 1.2 percent at $63.53, while Amazon shares were down 0.3 percent. Dish faces a Federal Communications Commission...

  • LONDON, July 6- Mining giant Glencore has signed a major deal to sell up to 20,000 tonnes of cobalt products to a Chinese firm, a move that in turn helps Volkswagen secure car batteries for its shift to electric vehicles, four sources said. The four-year agreement between Glencore and Chinese battery maker Contemporary Amperex Technology Co Ltd, struck last...

  • July 6- Dish Network Corp Chief Executive Charlie Ergen and Amazon.com Inc head Jeff Bezos have discussed a partnership to enter the wireless business, the Wall Street Journal reported, citing people familiar with the matter. Amazon could help bankroll a network Dish is building focused on the "Internet of Things", and could possibly offer its Prime members an...

  • BUECKEBURG, Germany, July 5- Airbus Helicopters Deutschland and engine maker MTU Aero Engines on Wednesday announced they had teamed up with six other German firms to push for a role in managing and maintaining a future German military heavy-lift helicopter. The companies signed a partnership agreement in which they underscored the importance of the German...

  • 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...

  • 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...