Oman-Etihad Rail Project Advances with Call for Bids
Oman-Etihad Rail Company, a joint venture between Oman Rail and UAE’s Etihad Rail, has significantly developed the Oman-UAE Rail Network. The company has invited pre-qualification bids for constructing passenger stations, freight facilities, and depots, marking progress towards the ambitious rail project connecting Sohar Port with the UAE National Rail Network. This move highlights the commitment to engaging specialized contractors with the necessary expertise for the successful execution of this crucial infrastructure endeavor. The project’s impact on economic growth, trade, and connectivity across the region cannot be understated.
Vodafone teams up with KKR and GIP in 16 billion euros towers deal
Vodafone has agreed to sell a major stake in its wireless infrastructure company Vantage Towers to GIP and KKR, creating a joint venture that will release proceeds of at least 3.2 billion euros ($3.2 billion) for the telecoms operator to pay down its debt.
EXCLUSIVE Barclays seeks entry into China’s $4.3 tln asset management market -sources
Barclays (BARC.L) is seeking a Chinese banking partner to set up an asset management joint venture in the country, two people with knowledge of the matter said, as part of British lender’s plans to expand its footprint in the world’s second-largest economy.
EXCLUSIVE Two senior Grab executives quit as company rejigs unit to stem losses – sources
Two top executives at Grab Holdings’ fintech business have quit, adding to other senior departures in recent months, as the Southeast Asian ride-hailing and delivery firm rejigs the key unit at the loss-making group, two sources said.
EXCLUSIVE Geely, Renault to soon announce hybrid-focused auto JV for Asia – sources
Geely Holding and France’s Renault are likely to soon announce a deal to jointly produce the Chinese automaker’s hybrid vehicles in South Korea and look at possibly exporting cars duty-free to the United States, three people familiar with the matter said.
Tesla to invest $188 mln to expand Shanghai factory capacity -Beijing Daily
Tesla Inc (TSLA.O) plans to invest up to 1.2 billion yuan ($187.91 million) to expand production capacity at its Shanghai factory that will allow it to employ 4,000 more people at the site, state-backed Beijing Daily newspaper reported on Friday.
Sony to invest $500 mln in TSMC’s new Japan chip plant venture
Sony Group (6758.T) on Tuesday said it will invest about $500 million in a joint venture with Taiwan Semiconductor Manufacturing Co’s (2330.TW) (TSMC) that will build a $7 billion chip plant in Japan.
Wolfsburg, we have a problem: How Volkswagen stalled in China
In late December 2019, managers at Volkswagen (VOWG_p.DE) headquarters in Wolfsburg realised they might have a serious problem in China, the company’s biggest market and ticket to its electric future.
Hyundai Motor, LG’s battery unit to invest $1 bln in EV partnership
South Korea’s Hyundai Motor Group and LG Energy Solution said on Thursday they would set up a joint venture (JV) in Indonesia to establish a battery cell plant for electric vehicles (EV), investing $1.1 billion with each owning half the business.
EXCLUSIVE Shell plans to exit California joint venture with Exxon Mobil -sources
Royal Dutch Shell Plc (RDSa.L) plans to leave Aera, its California-based oil and gas-producing joint venture with Exxon Mobil Corp (XOM.N), four people familiar with the talks told Reuters.
