Officials of Traton during listing ceremony at the Frankfurt Stock Exchange. Agence France-Presse
Volkswagen is exploring purchasing a big stake in its Chinese electric vehicle joint venture partner JAC Motors and has tapped Goldman Sachs as an adviser on the plan, people with direct knowledge of the matter said. The move by VW, the largest foreign automaker in China, to buy into Anhui Jianghuai Automobile Group (JAC Motors) is the latest by foreign automakers to boost ownership
Sales of sports utility vehicles (SUVs) and cost cuts helped Volkswagen (VW) shrug off a 1 billion euro legal charge and meet first-quarter operating profit forecasts on Thursday, sending its shares 3.3 per cent higher. Earnings before interest and taxes (EBIT) fell to 3.9 billion euros ($4.37 billion) from 4.2 billion a year earlier but were in line with the 3.92 billion euros expected by analysts.
Ford Motor Co and Volkswagen AG said they will spend billions of dollars to jointly develop electric and self-driving vehicles, deepening a global alliance to slash development and manufacturing costs while positioning VW as the initial winner.
Volkswagen plans to build a fully electric sports utility vehicle (SUV) for China from 2021, taking on the Chinese market leader Tesla’s Model X as the German carmaker ramps up production of zero emissions vehicles. The planned new SUV is the latest move in Volkswagen’s aggressive growth strategy in China, where electric cars are given preferential treatment by authorities.
Dubai welcomed 8.36 million international overnight visitors in the first six months (January-June) of 2019, posting a positive three per cent in tourism volume growth compared to the same period last year,
China’s central bank unveiled a key interest rate reform on Saturday to help steer borrowing costs lower for companies and support a slowing economy that has been hurt by a trade war with the United States.
Gold prices have hit a record high amid a rush for safe haven assets owing to the fears of a recession. Goehring & Rozencwajg, a research firm which focuses on investments in natural resources, says the great gold bull market has begun.
Abu Dhabi Securities Exchange (ADX) announced that it has succeeded in achieving a compliance rate of 97 per cent regarding the disclosure of the 2nd quarter financial statements 2019 of its listed public joint stock companies,