Dubai’s biggest bank, Emirates NBD, is looking to expand its presence in Saudi Arabia, its CEO Shayne Nelson has confirmed. The lender, which has plans to become a regional bank, will focus on growing in the Middle East and North Africa (MENA) region as part of diversification plans, he toldGulf Business in an exclusive interview.
Updated 6 Years ago

Chinese Premier Li Keqiang held talks with Romanian Prime Minister Victor-Viorel Ponta on Monday, with both countries vowing to push forward bilateral cooperation in energy, infrastructure and agriculture. Li said the two sides should maximize guidance of the joint economic and trade commission, in an effort to boost bilateral economic cooperation.
Updated 6 Years ago

The transition of the Chinese economy is reflected by the growing appetite for consumer products, which will mean not just more imports and more brands but also increasingly heated competition in the management of the supply chain, according to Edwin Keh from the Wharton School of the University of Pennsylvania. In a recent interview in Beijing, where he was guest lecturer teaching supply chain management at the Cheung Kong Graduate School of Business, Keh also said high demand volatility can easily lead to an excess inventory.
Updated 6 Years ago

China continues to top the world in the number of trademarks registered, driven in part by government encouragement to improve innovation and competitiveness. The number of valid trademarks registered in China totaled 7.61 million by the end of June, data from the State Administration for Industry & Commerce (SAIC) showed on Tuesday.
Updated 6 Years ago

Nigeria has a third confirmed case of Ebola in the oil hub of Port Harcourt, bringing the country's total confirmed infections to 17, with 271 people under surveillance, the health minister said. The figure was revised up from an earlier one of 16, which had been the result of an error in counting.
Updated 6 Years ago

Production in Mexico's mining-metallurgy sector grew by 1.8% in June, from the same month in 2013, with copper and sulfur leading the rise, according to statistics agency Inegi. Copper output increased 6.8% to 40,895t, with sulfur up 4.4% to 88,770t, Inegi said in a report. Lead and silver was up 0.2% to 15,740t and 398t (12.8Moz) respectively, while gold production rose 0.1% to 8.45t (271,667oz).
Updated 6 Years ago

Brazilian presidential candidate Marina Silva has promised a range of banking reforms in her government program following news that Latin America's largest economy fell into recession in the second quarter. A more efficient credit market will help to elevate Brazil's economic growth rate, she said.
Updated 6 Years ago

Apple Inc. (AAPL) plans to turn its next iPhone into a mobile wallet through a partnership with major payment networks, banks and retailers, according a person familiar with the situation. The agreement includes Visa Inc. (V), MasterCard Inc. (MA) and American Express Co. (AXP)and will be unveiled on Sept. 9 along with the next iPhone, said the person, who asked not to be identified because the talks are private.
Updated 6 Years ago

Billionaire Masayoshi Son will start selling his humanoid robots named “Pepper” at Sprint Corp. (S)stores in the U.S. by next summer, part of SoftBank Corp.’s push to take the technology beyond factory floors. SoftBank also has received between 300 and 400 inquiries about Pepper from companies in finance, food service and education, Fumihide Tomizawa, chief executive officer of SoftBank Robotics, said yesterday. The 1.2 meter (4 foot) robot dances, makes jokes and estimates human emotions based on expressions. Pepper will go in sale in Japan in February for 198,000 yen ($1,900) while the company hasn’t set a U.S. price.
Updated 6 Years ago

Akzo Nobel NV (AKZA)’s Chief Executive Officer Ton Buechner, 19 months into an overhaul ofEurope’s largest paintmaker, is being sounded out for a potential $7 billion purchase of a car-coatings company at a time when he has focused on cutting costs. Axalta Coating Systems, the former DuPont Co. (DD) unit purchased by Carlyle Group LP (CG) for $4.9 billion in February 2013, could fetch more than $7 billion as the buyout owner contemplates bids alongside a planned initial public offering, three people familiar with the matter said. Amsterdam-based Akzo Nobel hasn’t indicated whether it will pursue Axalta, according to the people, who asked not to be identified because details of the plan are private.
Updated 6 Years ago