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Dan Strieggl and his son Issac inspect new farm equipment at the 2018 Farm Progress Show in Boone, Iowa, US, recently. — Reuters
Trump trade war delivers farm boom in Brazil, gloom in Iowa
LUÍS EDUARDO, Brazil/BOONE, Iowa — The Bella Vita luxury condominium tower rises 20 stories over the boomtown of Luís Eduardo Magalhães in northeastern Brazil. Its private movie theater and helipad are symbols of how far this dusty farming community has come since it was founded just 18 years ago. Local soybean producers shell out upwards of a half-million US dollars to live in the complex. Nearby farm equipment sellers, car dealerships and construction supply stores are bustling too. Meanwhile, nearly 5,000 miles to the north in Boone, Iowa, farmers are hunkering down. At a recent agriculture trade show here, Iowa corn and soybean grower Steve Sheppard reflected the cautious mood. "I'm not buying any machinery, I'm not spending any money," Sheppard said. Two...
October 11, 2018

Trump trade war delivers farm boom in Brazil, gloom in Iowa

A Rafale fighter jet performs during the Aero India air show at Yelahanka air base in Bengaluru, in this file photo. — Reuters
Dassault says it picked Reliance of its own will for India jet contract
NEW DELHI/PARIS — Dassault Aviation said it picked India's Reliance Defense as a partner for a big military combat deal on its own, countering a French online media report that said the Indian government insisted on the firm as a condition of the contract. Indian Prime Minister Narendra Modi's purchase of 36 Rafale planes in a deal estimated to be worth $8.7 billion has become a political controversy and on Thursday his rivals seized on the revelations by Mediapart as further evidence of wrongdoing. The deal has faced scrutiny both on the price and the decision to choose billionaire Anil Ambani's Reliance as a local partner with no aeronautical expertise instead of the state-run Hindustan Aeronautics, which has a long history of making planes. The French news outlet said...
October 11, 2018

Dassault says it picked Reliance of its own will for India jet contract

A customer inspects a BMW car on display at the German automaker's dealership in Beijing on Thursday. German luxury carmaker BMW announced  a plan to take control of its China joint-venture, the first foreign automaker to take advantage of Beijing's new ownership rules for the sector. — AFP
BMW plans to take control of China joint venture
BEIJING — German luxury carmaker BMW announced Thursday a plan to take control of its China joint-venture, the first foreign automaker to take advantage of Beijing's new ownership rules for the sector. BMW will acquire a further 25 percent stake in the venture with Brilliance China Automotive for 3.6 billion euros ($4.2 billion), the company said, bringing its stake to 75 percent by 2022 when the deal closes. Foreign automakers have long been restricted to holding no more than a 50 percent stake in their China operations, but Beijing decided to relax the ownership caps this year. The reforms are part of Beijing's plan to further open its economy to foreign business, after years of facing pressure from the United States and Europe. "BMW is the first beneficiary of the...
October 11, 2018

BMW plans to take control of China joint venture

A view shows windmills of several wind farms at the so-called
New wind farms could thrive in Norway without subsidies — state grid
OSLO — Declining costs and rising power prices mean major new wind farms could be built in the south of Norway without subsidies, the country's state-owned grid operator said on Thursday. The report by Statnett is part of an analysis that Norway's energy regulator NVE is putting together on the potential for increasing the country's wind power generation, which currently has a total estimated capacity of about 1.3 gigawatt (GW). "The development of increased European and Nordic power prices combined with continued declining operating and development costs has made it profitable to build wind power without subsidies in Norway," Statnett said. The analysis said a large amount of wind power could be generated in southern Norway without creating new bottlenecks in...
October 11, 2018

New wind farms could thrive in Norway without subsidies — state grid

Tesla Motors CEO Elon Musk introduces the falcon wing door on the Model X electric sports-utility vehicles during a presentation in Fremont, California in this file photo. — Reuters
FT says James Murdoch in line for Tesla chair. Musk reply: Incorrect
SAN FRANCISCO/BOSTON — Elon Musk replied with a Tweet saying: "This is incorrect" after the Financial Times reported that outgoing Twenty-First Century Fox Inc Chief Executive James Murdoch was the lead candidate to replace him as Tesla Inc chairman. Tesla has until Nov. 13 to appoint an independent chairman of the board, part of settlements reached last month between Tesla, Musk and US regulators after Musk tweeted in August that he had secured funding to take the electric car maker private. The SEC settlement capped months of debate and some investor calls for stronger oversight of Musk, whose recent erratic public behavior raised concerns about his ability to steer the money-losing company through a rocky phase of growth. The US Securities and Exchange Commission, which...
October 11, 2018

FT says James Murdoch in line for Tesla chair. Musk reply: Incorrect

Saudi Arabia accounts for 32% of GCC interior design market spending
RIYADH — Thousands of designers, architects and buyers representing hundreds of international suppliers are descending upon Riyadh this month to capitalize on the boom in interior design spending across the Kingdom.Saudi Arabia accounts for almost one third (32%) of the total GCC interior design market spend, some SR11.25 billion of a total SR35.6 billion, according to a recent Ventures report commissioned by INDEX Saudi, the new design exhibition which runs at the Riyadh International Convention and Exhibition Centre from Oct. 30 to Nov. 1.The renewed demand for high quality interior design and fit out services in the Kingdom can be attributed to the influx of new residential, commercial and hospitality projects as well as the host of new schools and hospitals planned across the country...
October 10, 2018

Saudi Arabia accounts for 32% of GCC interior design market spending

Labor market nationalization may raise labor costs: Report
DUBAI —Gulf Cooperation Council (GCC) countries’ labor market nationalization policies aim to provide more jobs for a rapidly growing population, but they are also likely to raise labor costs and hamper diversification, Moody’s Investors Service said in a report released Wednesday.The report, “Sovereigns – GCC, Labor Market Nationalization” aims to curb unemployment but may raise labor costs and hamper diversification.”Rapid GCC population growth is leading to increased demand for jobs as new entrants join the market and only modest numbers of workers retire. Social changes will compound higher employment demand, particularly if more women enter the workforce, the report noted.Relative to the current size of the job market, the number of new jobs for nationals needed in the...
October 10, 2018

Labor market nationalization may raise labor costs: Report

Malabar Group  25th Anniversary
Malabar Gold discloses further global expansion
MUMBAI — Malabar Gold & Diamonds, one of the world’s largest jewelry retailer, announced ambitious global growth plan on the eve of its Silver Jubilee (25 years) celebrations that will see the company triple its retail network from 250 showrooms this year to 750 outlets in the next five years with annual turnover exceeding $6.16 billion (INR45,000 crores) and the Group turnover to US$6.85 billion (INR50,000 crores) by 2023.The Group currently operates retail outlets spread across ten countries in the India, Middle East, Southeast Asia and America. Its massive expansion plan will see the company expand its footprint across all Tier 1 and Tier II cities in North and Central India – in order to cater to the growing jewelry market. The company’s plan of major expansion in international...
October 10, 2018

Malabar Gold discloses further global expansion




Classroom lecture
Aspiring Saudi digital marketers gain access to latest industry skills
ON October 13, Growth Velocity Academy (GVA) will be welcoming its first batch of aspiring Saudi digital marketers and growth hackers, comprising of 100 entrepreneurs, corporates and “career transitioners” looking to leverage the digital space to grow their businesses and careers. With a solid track record of building their last business to 20 million users in under 18 months, the founders of Growth Velocity Academy have established the school to fast track skill building for aspiring entrepreneurs as well as corporates in Saudi Arabia and beyond. Established just under a year ago, GVA has already run a number of workshops & bootcamps in Lebanon and South Africa which have sold out in a matter of days, with many of their alumni going on to secure job promotions and new roles within...
October 10, 2018

Aspiring Saudi digital marketers gain access to latest industry skills

Eng. Faris M. Al-Sarhani, Mayor of Tabuk, officially inaugurates the LuLu Hypermarket in the presence of Yusuffali Musliam, Chairman of LuLu Group;  Said Ali Awadh Al Asieri, Chairman Tabuk Chamber of Commerce and a number of other dignitaries
LuLu Hypermarket opens in Tabuk
THE leading retail company, UAE-based LuLu Group has further expanded its retail network in the Kingdom of Saudi Arabia by opening its newest Hypermarket in North-Western region of Tabuk. Eng. Faris M Al-Sarhani, Mayor of Tabuk, officially inaugurated the hypermarket in the presence of Said Ali Awadh Al Asieri, Chairman Tabuk Chamber of Commerce and a number of other dignitaries. Strategically located at the newly launched Tabuk Park Mall on the King Faisal road, LuLu Hypermarket covers a total built-up area of more than 145,000 square feet. With the signature LuLu design aesthetic, the single-level shopping facility features a conducive and spacious store layout and organized product stations which includes grocery, dairy products, fruits & vegetables including Saudi grown products, fish...
October 10, 2018

LuLu Hypermarket opens in Tabuk

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