Company news

08 June 2018 | Business

Siemens signs pacts to deepen ties to China

Siemens has signed more than ten cooperation agreements with Chinese companies as it seeks to benefit from deepening involvement with China’s “Belt and Road” infrastructure initiative, the German engineering group said on Wednesday.

Siemens said the cooperation covers power generation, energy management, building technology and intelligent manufacturing and includes companies such as China National Chemical Engineering Group Corp, China Railway Construction Corp(International) Ltd and China Civil Engineering Construction Corp.

-Nampa/Reuters

Uber jumps into Europe's crowded bike-sharing market

Uber, the ride-hailing company which has been banned from many European cities, is about to launch its JUMP electric bicycle sharing service in Germany as it diversifies and seeks to build bridges with local authorities.

Uber’s chief executive Dara Khosrowshahi made the announcement at a conference in Berlin as dozens of German taxi drivers outside waved placards that read “Uber go Home”.

“I want this to signal a deep commitment to Germany,” Khosrowshahi said, arriving on stage with a bright-red JUMP bicycle.

-Nampa/Reuters

Kenya's Mumias Sugar suspends CEO

Kenya’s Mumias Sugar has suspended chief executive officer Nashon Aseka over “doubtful transactions” that appear to have been entered without following proper procedures.

Mumias, which used to be the East African nation’s leading producer at more than 250 000 tonnes a year, has been beset by poor management and mounting losses in recent years.

The company’s board said Aseka’s suspension would pave way for further investigation. It did not say how long the suspension, which takes immediate effect, would last.

-Nampa/Reuters

Vodacom says interested in "attractive" Ethiopia

South Africa’s Vodacom Group is interested in the Ethiopian telecoms market, it said on Wednesday, a day after the East African country opened its state-run telecoms monopoly.

“Vodacom has said on many occasions that Ethiopia is an attractive market so it follows that there would be interest. Naturally this is dependent on what might become available and if it fits within our investment parameters,” Vodacom’s spokesman said in response to emailed questions.

-Nampa/Reuters

Zimplats leases mining land to government

Impala Platinum’s Zimbabwean subsidiary said on Wednesday that it had agreed to lease nearly half of its mining land to the government and that in turn it had received two mining leases valid for the life of its operations.

The southern African nation had since 2013, under former president Robert Mugabe, unsuccessfully tried to seize the land from Zimplats, the country’s biggest platinum miner.

-Nampa/Reuters

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