World-Business
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.
Asian shares mixed after S&P 500 hits all-time high
Bangkok, Oct 29 (AP/UNB) — Shares were mixed in Asia and Chinese benchmarks fell Tuesday after Hong Kong's leader warned that months of political protests are taking a harsh toll on the economy.
Survey: US business hiring falls to a 7-year low
Washington, Oct 28 (AP/UNB) — A measure of hiring by U.S. companies has fallen to a seven-year low and fewer employers are raising pay, a business survey has found.
IBM partners with Shanghai to build first AI Innovation Center in China
Shanghai, Oct 27 (Xinhua/UNB) -- IBM China signed an agreement with Shanghai Zhangjiang Group on Friday to build the first Watson Build Artificial Intelligence (AI) Innovation Center in China through a three-year partnership, in a bid to cultivate AI talent and accelerate AI applications.
Samsung heir Lee appears in court for corruption retrial
Seoul, Oct 25 (AP/UNB) — Billionaire Samsung scion Lee Jae-yong appeared in court on Friday for his retrial on the corruption allegations that partially fueled the explosive 2016 scandal that spurred massive street protests and sent South Korea's then-president to prison.
Asian shares mixed after US gains amid global uncertainties
Tokyo, Oct 25 (AP/UNB) — Asian shares were mixed Friday, after Wall Street indexes posted modest gains, cheered by solid profits and forecasts from U.S. technology companies.
China's Nasdaq-style board turns ten, ready for new reforms
Beijing, Oct 24 (Xinhua/UNB) -- It has been ten years since the first batch of companies got listed on ChiNext, China's Nasdaq-style board. At the age of ten, the capital platform is expecting new reforms to woo innovative start-ups.
China releases regulation on optimizing business environment
Beijing, Oct 24 (Xinhua/UNB) -- The State Council on Wednesday made public a regulation on optimizing the business environment in the latest step to unleash and develop productive forces and advance high-quality development.
Tesla's stock soars after company posts surprising 3Q profit
San Francisco, Oct 24 (AP/UNB) — Tesla posted a surprising profit of $143 million in its latest quarter, raising hopes the electric car pioneer may finally be turning the corner after posting mostly losses during its first decade as a publicly held company.