Top officials at the assembly line of ‘Fiat 500’ in Turin, Italy. Agence France-Presse
Fiat Chrysler has made a “transformative” all-share merger proposal to French rival Renault, the Italian-American carmaker said on Monday, in a deal to create a new third-ranked global manufacturer.
Global shares climbed on Monday as investors snapped up automaker stocks following confirmation of merger talks between Fiat Chrysler and Renault, and after pro-EU parties kept a firm grip on power in elections to the European Parliament.
Fiat Chrysler and Renault are in talks on a comprehensive global tie-up that could address some of the main weaknesses of both carmakers, two sources with knowledge of the discussions told Reuters.
Global stocks rose on Friday after a top Federal Reserve official cemented expectations of a US interest rate cut later this month, fuelling appetite for riskier assets and keeping a cap on the dollar.
The Abu Dhabi’s real estate market is on solid growth trajectory despite the global trends.
The fully integrated, UAE-based, Grandweld Shipyards, has exhibited immaculate operations and achieved a number of landmark milestones during 2018. From environmentally friendly and sustainable services, to closing new deals;