Daily Management Review
Business & Finance

Kuwait & Abu Dhabi To Invest In Saudi Aramco IPO

Aramco IPO did not gather momentum beyond the Gulf region, resulting in a revised lower IPO target; Kuwait and Abu Dhabi are reported to provide support. In an attempt to help Riyadh out of the strife of raising “$25.6 billion from a domestic listing of the state oil giant”, the wealthy neighbours...

Deutsche Bank sells assets for $ 51 billion to Goldman Sachs

Deutsche Bank sold a portfolio of securities with a face value of £ 40 billion ($ 51 billion) to Goldman Sachs, Bloomberg reports citing sources, and notes that the German bank got rid of assets that were unnecessary to it. The subject of the transaction were debt securities of emerging markets....

Deutsche Bank Sold ‘$50 billion’ Assets To Goldman Sachs

As part of overhaul, Deutsche Bank sells off “unwanted assets”. Deutsche Bank has made a sale of its “unwanted assets” worth “$50 billion” to Goldman Sachs. This step forms part of the bank’s restructuring plan, confirmed a source with the knowledge of the matter.   According to Reuters...

BMW Seeks Solidarity With Labour Representatives In Payout Cut

Similar to other auto manufacturers, BMW also finds ways to reduce costs to invest in electric vehicle manufacturing. BMW, the German auto-manufacturer, reported that the company and the labour have agreed on common terms for reducing costs to skirt across “drastic measures”. The company had been...

Investments In Aramco IPO Planned By Abu Dhabi, Kuwait Sovereign Funds: Reuters

According to a report published by Reuters citing sources, investment in the initial public offering (IPO) of Saudi oil giant Saudi Aramco is being planned to be made by the sovereign wealth funds of Abu Dhabi and Kuwait. Aramco is primarily depending on investment investments from Saudi Arabia and...

Global Supply Of Batteries For EVs Could Be Disrupted Due To Feud Of Korean Firms

Two South Korean battery manufacturing firms SK Innovation and LG Chem are fighting a bitter battle in court in the United States over charges of misappropriating trade secrets with the aim of each to prevent importing and selling EV batteries to a host of planned electric vehicles of a number of...

HP's net profit falls in 2018-2019

Net income of HP Inc. in the 2018-2019 fiscal year, ended on October 31, amounted to $ 3.152 billion, which is 1.7 times less than in the last financial year, the company reported. Diluted earnings per share for the reporting period amounted to $ 2.07 compared to $ 3.26 for the same period last...

Boeing loses right to issue certificates for 737 MAX in USA

The US Federal Civil Aviation Agency will remain the only agency eligible to certify the aircraft. “The public and safety interests in the aviation trade are requiring the management to retain the authority to issue airworthiness certificates and export airworthiness certificates for all 737 MAX...

First Car Factory in Indonesia To Be Set Up By Hyundai At $1.55 Bn

An agreement for construction of a new car manufacturing plant in Indonesia has been signed by South Korea’s Hyundai Motors which will be the first such facility of the company in Southeast Asia outside of its home market, the company announced on Tuesday. The aim of the company is also to...

Uber loses license in London

Uber refused to renew its license to work in London, one of the key markets for taxi services. Inspection of the company by the British regulator revealed several thousand violations: for example, drivers took orders without a license. The British state-owned enterprise Transport for London (TfL, a...
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