The JV will set up a facility to make tires in Saudi Arabia.
Volkswagen revenue up
The automaker made sales to the tune of US$83.5bn in Q3.
Rolls-Royce to cut 2,500 jobs
It will cut six percent of its staff to build a leaner company.
Lavoie buys e-bike firm VanMoof
The cost of the acquisition has not been specified.
India’s IndiGo places record order for 500 Airbus A320
Indian carrier IndiGo said it had ordered a 500 A320 airliners from European manufacturer Airbus at the Paris Air Show. With a list price of $55 billion- the actual sale prices are usually lower- the deal is the largest ever civil aviation order and a "historic" step for both firms,...
More than 1,800 new companies set up businesses in RAKEZ in Q1
Ras Al Khaimah, UAE--More than 1,800 new companies have set up their businesses in Ras Al Khaimah Economic Zone (RAKEZ) in the first quarter of 2023, registering a 122 percent jump as against the same period of last year. Ramy Jallad, CEO of Ras Al Khaimah Economic Zone (RAKEZ), said...
Airbus Q1 net profit at $514m
The company delivered 127 aircraft in Q1 of 2023.Industrial manufacturers need to be proactive amidst rising rates, skilled labor crunch and fewer subsidies
Organizations that decide not to or are unable to act will continue to find themselves patching together reactive solutions to problems. If 2023 is a year of slowdown, instead of battening down the hatches, firms should use the opportunity to move toward smarter manufacturing, he adds.
Israeli weapons-maker Elbit Systems launches UAE venture
Israeli weapons-maker Elbit Systems launched a new venture in the United Arab Emirates on Sunday, an announcement that comes ahead of visits to Dubai by senior Israeli military officials. The manufacturer of the Hermes armed drone and cutting-edge surveillance technology, among other products, hailed the announcement as a product of...
