Money Digest

British Airways owner IAG posts rise in profits

IAG, owner of several major airlines including British Airways and Spanish carrier Iberia, said Friday its net profit climbed 12 percent in the third quarter despite higher fuel costs.

Oct 29 2018

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Morocco to become major production hub for Renault: CEO

Morocco will become a major production centre for the French car manufacturer Renault in the coming few years, CEO of Renault Group Carlos Ghosn said on Saturday in Rabat. Renault’s two factories in Casablanca and Tangier will reach a production capacity of 500,000 vehicles per year, Ghosn said at World Policy Conference (WPC).

Post Report, Oct 29 2018

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China’s software industry sees rapid growth

China’s software industry registered rapid revenue growth in the first three quarters of this year, official data shows. Business revenue increased by 15 percent year on year to reach 4.5 trillion yuan ($647.4 billion), faster than the growth during the same period last year, according to the Ministry of Industry and Information Technology (MIIT).

Oct 29 2018

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Deutsche Post sells off Chinese supply chain

German logistics giant Deutsche Post DHL said on Friday it was selling off its supply chain business in China, but would continue operating the unit under a “strategic partnership”.

Oct 29 2018

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Africa’s biggest crafts fair opens in Burkina Faso

Africa’s largest crafts fair opened on Friday in the Burkina Faso capital Ouagadougou under the shadow of growing terror and jihadist attacks in the West African nation.

Oct 29 2018

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FAW-Volkswagen recalls imported cars in China

FAW-Volkswagen Automotive Co has begun recalling 207 imported cars in China over safety risks with gearboxes, according to the country’s market regulator. The recall, beginning on October 23, involves imported Audi R8 models produced between April 18, 2016 and November 9, 2017, according to the State Administration for Market Regulation.

Oct 29 2018

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