Business
Facebook Q3 revenue tops earnings forecast to hit 17.6 bln USD
Facebook Inc. announced Wednesday a big jump in its total revenue for the third quarter, with a 29 percent increase year-on-year to hit 17.65 billion U.S. dollars.
Fiat Chrysler, PSA Peugeot boards approve merger
The boards of Fiat Chrysler and PSA Peugeot have approved merging the two companies in a move that would create the world's fourth-largest automaker with combined revenues of 170 billion euros ($188.8 billion), the companies announced Thursday.
Samsung Electronics says third quarter profit fell 56%
Samsung Electronics says it operating profit for the last quarter fell by nearly 56%, with its robust smartphone and TV sales offset by a continuously weak market for computer chips.
Volkswagen warns of slowing global auto markets
Volkswagen says its profits jumped 44% in the third quarter thanks to a more profitable mix of vehicles in its lineup but warned that global car markets are slowing more than expected and lowered its forecast for annual sales.
World shares mostly lower as investors eye Fed, trade news
Global shares mostly retreated Wednesday as investors eye a possible interest rate cut in the U.S. while hoping for a breakthrough on the U.S.-China trade front.
Fiat Chrysler confirms talks with French carmaker Peugeot
Italian-American carmaker Fiat Chrysler Automobiles on Wednesday confirmed that it is in talks with French rival PSA Peugeot, its second bid this year to reshape the global auto industry which is facing huge challenges with the transition to electric and autonomous vehicles.
Sony says 1H net profit off 15%, upgrades full year forecast
Sony Corp. said Wednesday that its net profit fell 15% in the first half of the year, though strong sales of entertainment and imaging sensors offset weakness in the games sector.
Volkswagen introduces electric car in Sub-Saharan Africa for 1st time
Kigali, Oct. 30 (Xinhua/UNB) -- German automaker Volkswagen (VW) on Tuesday launched a pilot project of its electric car e-Golf in partnership with German technology giant Siemens in Kigali, capital city of Rwanda, which makes Rwanda the first country in Sub-Saharan Africa where VW introduces an electric car.
VW had in June 2018 launched a car assembling plant in Rwanda together with integrated mobility solutions including application-based car-sharing services. The Rwandan plant has an annual capacity of assembling up to 5,000 cars including Polo, Passat and Teramont, and can create up to 1,000 jobs per year.
The success of VW's pioneering mobility solutions business in Rwanda has shown that the central African country has the potential to leapfrog the internal combustion engines into electric cars, said Thomas Schaefer, Chairman and Managing Director of VW Group South Africa at an official launch of the project.
Rwanda becomes the first African country where Volkswagen is testing electric cars, Schaefer said.
Fully charged engine of the e-golf has a capacity of cruising a distance of 230 kilometers in ideal conditions. However, the distance is subject to conditions such as altitude, terrain and gradient among other factors, according to VW.
Four e-Golf and one charging station will be introduced in Rwanda after the launch, while the number will increase to 20 and 15 respectively in the next few months, it said.
During the pilot project the electric vehicles will operate under VW's mobility solutions initiative which includes car sharing and rentals among others, said Michaella Rugwizangoga, CEO of Volkswagen Mobility Solutions Rwanda, the subsidiary of VW South Africa in Rwanda.
Rwandan government is confident that the introduction of environmentally friendly transport services such as electric cars will accelerate the reduction of air pollution levels as the central African country is becoming increasingly aware that protecting the environment is a top priority, said Rwandan Prime Minister Edourd Ngirente.
E-mobility presents great opportunities to substitute expensive fuel imports with electricity generated in the country, he said.
In 2018, fuel products were the largest single import product category into Rwanda, accounting for 12 percent of all imported goods, according to him.
IBBL holds business conference
Dhaka, Oct 29 (UNB)- Islami Bank Bangladesh Limited (IBBL) has held a conference on ‘Business Innovation for Inclusive Development’.
Walton Primo RX7 offer up to Tk 10,000 cashback
Dhaka, Oct 29 (UNB)- Local cell phone maker Walton has launched its new smartphone ‘Primo RX7’ and announced exciting cashback of up to 10,000 BDT for its customers.