Samsung is establishing itself as India’s number one smartphone manufacturer. The company credits strong sales for its new series of mid-tier products with new special features.
Firm Management
Turkmenistan-Afghanistan-Pakistan-India (TAPI) Pipeline Project Secured $200 Milion Investment from Shareholders
Turkmenistan-South Asia natural gas pipeline project has secured $200 million of investment from its shareholders. The project, developed by the Asian Development Bank, will now begin important studies to determine the projects detailed costs, routes, and other environmental as well as social factors.
Alibaba’s Alipay Will Launch European Expansion This Summer
Alipay is working on a plan to launch services in Europe this summer. The service will make it easier Chinese tourists to make transactions with European merchants using the app.
Fiat Chrysler to Lay Off 1,300 Workers in Michigan, Investing More on Light Truck Productions
Fiat Chrysler is announcing a 1,300 job cuts as a result of the company’s decision to focus on producing light trucks and SUVs. American automakers are reportedly struggling to make money on other car models, such as sedan recently.
China OEM Meizu Unveiled Its Long-Awaited m3 note
Meizu already unveiled its newest model m3 note. The Chinese OEM is keeping its concept of quality devices with affordable prices, which makes the brand popular in China’s market.
Latest News
The Royal Bank of Canada has released an official statement, explaining that the bank is not guilty for any illegal activities including tax evasion in connection to shell company set up as mentioned in leaked papers from Panama’s Mossack Fonseca. The bank claimed to have high standards to ensure clients would not use its services to evade tax.
French government offered an old nuclear plant site for Tesla to build its electric car manufacturing facility. The plant site is shutting down and Tesla’s existence could help support local residents with jobs.
Fever-Tree founders have reportedly sold their shares worth £18 million in total as a result of demands by investors. However, they claim to still be sticking with the business and still have the majority of their shares.
Overstock.com is making a strategic investment in Caribbean digital currency firm Bitt. The $4 million in Series A will be allocated to improve Bitt’s software as well as expanding its operation across other Caribbean countries.
SunEdison is facing another lawsuit, this time from its subsidiary TerraForm. TerraForm accused its parent company for misallocating cash for its projects in India to SunEdison’s own balance sheet.
Tesla announced parts shortage as the factor that caused the company to miss its initial sales target for the first quarter of 2016. The company, however, retains its guideline for the full year as it already solved the root of the problem accordingly.
The Panama Papers documents leak suggest that Ukrainian President Petro Poroshenko might be using an offshore company to evade tax. However, the president has denied such accusations, saying that he has not been managing the assets since he became president in 2014.
Following a deal with UAW, the union members are enjoying jobs in Ford’s Wayne plant sacrificing small-car plant in Mexico. Applying the loophole in negotiation terms, Ford announces another $1.6 billion production plant in Mexico in addition to previously declared $2.5 billion plant. Ford’s tricky stance has irked the UAW and the union members have demonstrated protest against the automaker’s decision.
Mitr Phol Group of Thailand has been recognized as the largest sugar and bio-power producer in Thailand and the fifth-largest sugar producer across the globe. The group intends to get recognized as the world’s leading sugar and bio-power producer. Upholding the view, MPG has announced its ฿50.4 billion investment plan inn some select areas.
