Grab Holdings has agreed to acquire foodpanda’s delivery business in Taiwan for $600 million in cash, marking the Singapore-based company’s first expansion outside Southeast Asia. The deal will extend Grab’s footprint to a ninth market, adding operations in 21 Taiwanese cities and......
German chemical giant BASF is reinforcing its long-term commitment to China through its largest-ever investment project, aiming to expand its footprint in the world’s biggest chemicals market. The company is currently developing a major chemical complex in Zhanjiang, a project estimated to cost......
Volkswagen said it expects its operating margin to improve to between 4.0 percent and 5.5 percent in 2026 after a challenging 2025 marked by tariffs, rising competition from Chinese automakers, and the high cost of shifting toward electric vehicles. The German carmaker reported an operating margin of......
The German government has put the country’s units of Russian oil giant Rosneft under a trusteeship to secure long-term oversight of its local assets, the economy ministry announced on Saturday. The move affects Rosneft Deutschland (RDG) and RN Refining & Marketing (RNRM), including a stake......
SAP SE, Europe's most valuable software company, is facing widespread frustration among staff after a newly introduced bonus system appeared to reward underperforming managers while setting higher performance standards for lower-level employees. According to a Bloomberg report citing internal documents......
ClassPass says it has generated a total of 3.1 billion dollars in revenue for fitness and wellness studios worldwide since its launch in 2013, underscoring its argument that the booking platform delivers incremental income rather than cannibalizing in house memberships. The figure, nearly double the......
Puma SE has introduced a high-end $260 training shoe designed for the rapidly growing Hyrox fitness segment, betting on new performance categories to offset heavy financial setbacks. The German sportswear brand unveiled its Deviate Nitro Elite Hyrox model on February 19, coinciding with the release of......
German Chancellor Friedrich Merz announced on Wednesday in Beijing that China plans to order up to 120 additional aircraft from European aerospace manufacturer Airbus. Speaking during his official visit to the Chinese capital, Merz said German authorities had been informed that Chinese leaders intend......
Investors are pressing Volkswagen CEO Oliver Blume for concrete results in what they view as a make-or-break year for the German automaker. Now freed from his dual role at Porsche, which ended January 1, Blume has a narrowing window to halt the company's decline in China and address critical technology......
Dachser is set to revolutionize Morocco’s logistics landscape with the construction of a cutting-edge facility spanning 75,000 square meters in Tangier Automotive City. Scheduled for completion by June 2026, the project recently secured MAD 206.5 million ($20.65 million) in financing from the European......
Royal Air Maroc (RAM), Morocco’s national carrier, will introduce four new direct international routes from Casablanca starting September 2025. This move aligns with RAM’s strategy to expand its global network and reinforce connections between Morocco, Europe, and Africa. New destinations......
Volkswagen's net profit for the first quarter of the year decreased by 40.6 percent, dropping to €2.19 billion ($2.49 billion). Despite this, the company saw a 3 percent increase in revenue, which reached €77.56 billion. The 10-brand conglomerate, which includes Audi, Skoda, and Porsche,......
Allianz Trade has announced the appointment of Philippe Dessèvre as its new Global Head of Reinsurance and CEO of Euler Hermes Reinsurance AG, effective October 1. This strategic leadership change follows the retirement of Benoît des Cressonnières, who has been with the company for......
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