More than 137,000 people have submitted a $1,000 deposit for pre-order of Tesla’s recently unveiled electric car ‘Model 3’. The pre-booking figure suggests Tesla’s ability for achieving its pre-set goal for selling 5,000 cars by 2020. Following the revelation, Tesla stock has been witnessed to increase by 60% during extended hour trading on Wednesday.
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Aramco’s Investment Plan In India Aims To Diversify Saudi Economy Reducing Dependence on Oil Prices
Minister Al Falih, head of Aramco, has expressed intention for investment in India’s oil industry. The intention has been revealed following its earlier decision for selling less than 5% stake of Aramco through IPO. All the moves have been analyzed as parts of Saudi bid to diversify its economy while reducing dependence on oil prices.
Finnish FM Faces Party Leadership Challenge From Right Wing MP
Elina Lepomäki, a right wing MP from National Coalition Party, has announced vying for party leadership with Alexander Stubb, the Finnish Finance Minister. In Finland, party leaders generally steps down from the cabinet membership, also following defeat in leadership challenge. NCP is scheduled to elect its new chair during the party congress in June.
Qatar-owned Italian Fashion House Valentino Offers 500 Million Euros to Acquire France’s Balmain
Valentino has made an offer to acquire French fashion house Balmain for 500 million euros. Balmain’s heirs has decided to find a new owner after the fashion house’s former chairman and majority owner, Alain Hivelin, passed away in 2014.
United Airlines, Union Correspond to 30% Wage Hike
United Airlines and the labor union both agreed on a 30% wage hike that will envelop the next five years. The agreement will benefit about 30,000 union employees that includes airport workers.
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UK's financial chiefs are concerned about impact of Brexit, postponing their key decisions on hiring and investments. The British industry and business segments are in wait and watch mode until referendum on Brexit in June 2016.
Xiaomi’s partnership with India’s Hungama will make it easier, more accessible and more affordable for locals to access the company’s service that will soon be integrated together with themes and ringtones.
The Kingdom of Saudi Arabia is poised to sell bonds after it has secured syndicated loans. The government is already in talks with the banks and will host Euromoney Saudi Arabia Conference on May 3 to 4 to determine the future of KSA market.
Google has removed a Taliban-developed application from the Play Store. While the aim of the application is likely to be establishing its existence digitally as well as globally, the use of the Pastho language indicated that the application targeted mainly local audience.
The history’s biggest confidential documents leak revealed Russian elites, mostly Mr Putin’s inner circles, as clients of an offshore law firm in Panama. The offshore money trail connected to Mr Putin’s allies is worth $2 billion.
American movie studios are getting closer to Chinese firms as sources of funding. Dick Cook Studios has just secured $500 million in production deal with China’s Film Carnival. The studio is working on the first film under the deal.
The Taliban-developed app was called Alemarah that enables viewing and reading in Pashto. It was deleted from Google’s Play Store within a short time after a report from SITE Intel Group. The app was available in five different languages including Arabic and English.
Virgin America, Billionaire Richard Branson's small carrier, is on the block and this is attracting other smaller airlines to bid for it. Airlines in the US are making more profits owing to cheaper oil prices. Acquisition route is ideal for smaller airlines to expand further.
China's eighth largest investment bank, Guosen Securities, has clarified on behalf of its unit that there's no default on its offshore debt. The trustee of the offshore bond Bank of New York Mellon (BNY) had earlier warned bondholders of a possible default.
