Bizline

Japan Mitsubishi Corp to acquire 25pc stake in Bangladesh LNG terminal

Japan’s Mitsubishi Corp on Friday said it has agreed to acquire 25 percent of Bangladesh’s Summit Liquefied Natural Gas (LNG) terminal and plans to help develop an offshore receiving site in the South Asian country.

Aug 18 2018

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Australia expects free trade deals this year with Indonesia, Hong Kong

The Australian government expects to seal free trade agreements with Indonesia and Hong Kong by year’s end, its trade minister said on Friday.

Aug 18 2018

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Air Canada’s Ben Smith named head of Air France-KLM

Air France-KLM named its first non-French chief executive on Thursday, handing the reins to Air Canada’s Ben Smith despite strong resistance from the group’s powerful trade unions.

Aug 18 2018

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Over 7,000 apply for New York for-hire licence ahead of cap

Over 7,000 New York City car-for-hire licence applications were filed between the announcement of a one-year cap on new licences—a blow to the likes of Uber and Lyft—and the measure coming into force, the city regulator said Thursday.

Aug 18 2018

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BMW delays Chinese deliveries of X4 vehicles to fix brake issue

German carmaker BMW on Friday said around 400 BMW X4 vehicles, built in Spartanburg South Carolina, are being withheld from delivery to Chinese customers until a potential brake problem has been fixed as part of a global safety recall. Cars built between mid-April and end-June 2018 are being withheld from sale so that brakes can be fixed as part of a recall of around 19,000 X3 and X4 vehicles, BMW said.

Aug 12 2018

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Ericsson to add 300 US jobs as 5G demand picks up

Mobile telecom equipment maker Ericsson said on Friday it would add around 300 jobs in the United States to meet rising demand for next-generation 5G equipment. It said it is aiming to employ engineers and artificial intelligence specialists.

Aug 12 2018

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Papa John’s cuts costs for North America franchisees as sales fall

Papa John’s International Inc on Friday said it would lower royalties and fees charged to its US and Canadian franchisees as sales at the US pizza chain decline following the acrimonious exit of it founder.

Aug 12 2018

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CreditAccess Grameen $164 million IPO subscribed over two times

Indian micro lender CreditAccess Grameen Ltd’s initial public offering (IPO) to raise 11.31 billion rupees ($164.08 million) was subscribed more than 2 times on the final day of sale on Friday.

Aug 12 2018

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US producer prices flat in July, restraining inflation

US wholesale prices were unchanged in July after two months of large increases, a sign inflation pressures may have softened. The Labor Department said Thursday that the producer price index—which measures price changes before they reach the consumer—increased 3.3 percent last month from a year earlier.

Aug 11 2018

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French hotels, restaurants look to migrants to fill 100,000 jobs

French hotel and restaurant owners are lobbying the government to regularise more illegal migrants in order to fill 100,000 jobs for which they have found no French takers. “We’re facing a huge shortage in our sector,” Roland Heguy, president of the hotel industry body UMIH, told AFP.

Aug 11 2018

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Maersk, IBM say 94 organisations have joined blockchain trade platform

Shipping group Maersk said on Thursday 94 companies and organisations have so far joined a blockchain platform developed with IBM aimed at boosting efficiency and limiting the enormous paper trail of global container shipping.

Aug 11 2018

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China auto sales down 5.3 percent as SUV demand sags

China’s auto sales shrank in July from a year earlier as SUV demand sagged, an industry group reported on Friday, adding to signs of economic malaise amid a tariff battle with Washington.

Aug 11 2018

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British retailer House of Fraser falls into administration, hopeful of buyer

House of Fraser collapsed into administration on Friday, joining a growing line of UK retail casualties, though hopes remained that the department store chain could be salvaged, possibly by Mike Ashley’s Sports Direct. The move to seek creditor protection puts more than 17,000 jobs at risk at the company, whose history stretches back to 1849.

Aug 11 2018

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Jet Airways confident in prospects despite reports cash running out

India’s biggest full-service airline Jet Airways Ltd said on Friday it was confident that it would be able to cut costs and keep flying, despite reports that it had warned staff it was running out of cash.

Aug 05 2018

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