Company news in brief

11 January 2018 | Business

Boeing set to top Airbus in 2017

Boeing Co said on Tuesday it delivered 763 jetliners in 2017, likely retaining the title of the world's biggest plane maker compared with European rival Airbus SE.

Boeing also garnered 912 net new aircraft orders worth US$134.8 billion last year, compared with 668 worth about US$94 billion in 2016. Airbus was on track last month to rack up more than 1 000 gross new orders, excluding cancellations, compared with the 1 053 gross orders Boeing announced.

The annual tallies confer more than just bragging rights; they show the companies' ability to run factories smoothly, make new sales and ultimately generate profits. Both companies report 2017 results in coming weeks. – Nampa/Reuters

Car giants launch US$1 bln venture capital fund

The Renault-Nissan-Mitsubishi alliance said it is setting up a venture capital fund that plans to invest as much as US$1 billion over five years, the latest move by major carmakers as they seek to adapt to rapid industry change by investing in startups.

It is set to be largest corporate venture capital fund in the auto industry over the period until 2022, the companies said in a statement.

The fund expects to invest up to US$200 million in its first year and key potential areas of investment include vehicle electrification, autonomous systems and artificial intelligence, the statement said. – Nampa/Reuters

Huawei's AT&T smartphone deal collapses

Huawei Technologies Co Ltd's planned deal with US carrier AT&T Inc to sell its smartphones in the United States has collapsed at the eleventh hour, people with knowledge of the matter said, in a blow to the Chinese firm's global ambitions. A separate person familiar with the discussions said that security concerns had arisen, without elaborating further.

Huawei said that its flagship premium smartphone Mate 10 Pro - Huawei's challenger to the iPhone - will be sold in the United States only through open channels. – Nampa/Reuters

Areva signs China nuclear facility pact

France's Areva signed a protocol agreement on Tuesday to build a nuclear fuel reprocessing facility in China worth 10 billion euros (US$12 billion), but has yet to secure a firm contract for a deal seen as vital to reviving the French nuclear industry.

The French nuclear industry has struggled to secure new business since the 2011 Fukushima nuclear accident stunted orders worldwide. It has also suffered from growing competition from renewable energy and cheap natural gas.

The initial target had been to commission the plant by 2030, meaning work would have to start by around 2020 latest. – Nampa/Reuters

Shrinking balance sheet may protect Fed

The Federal Reserve has begun shrinking its US$4.4-trillion balance sheet because the US economy's recovery from the 2008 financial crisis means less need for central bank support and the Fed wants to keep its powder dry for the next recession.

But Fed research published on Monday says a smaller portfolio would also insulate the central bank from potential future losses on its bond holdings and any political criticism that might result from losses to the taxpayer.

The research by five central bank economists and an independent professor finds there would be about a 30% chance that the Fed would log losses on its holdings in the years ahead were it to hang on to all of its current assets.

In each year since 2012, the Fed has sent between US$79 billion and US$97 billion in remittances to the US Treasury. The payments are derived from profits on its bond holdings and, while they are projected to decline, they represent a quiet windfall for taxpayers thanks to the central bank's unprecedented crisis-era decisions to prop up the economy by buying bonds. – Nampa/Reuters

Similar News

 

NBL concludes wage agreement

1 day - 19 October 2018 | Business

Namibia Breweries Limited (NBL) – a subsidiary of the Ohlthaver & List (O&L) Group - successfully concluded its wage negotiations with the Shop Steward Committee...

Company news in brief

1 day - 19 October 2018 | Business

Old Mutual to sell Nedbank sharesSouth Africa’s Old Mutual Ltd said on Wednesday it would sell around 5.5 million shares in Nedbank Group Ltd to...

Ghana positive about Air Namibia Accra-London route

2 days ago - 18 October 2018 | Business

Air Namibia could introduce a scheduled flight from Accra, Ghana to London as from early 2019 once an agreement between the two countries has been...

Otjikoto remains a B2Gold heavyweight

3 days ago - 17 October 2018 | Business

Jo-Maré Duddy – The Otjikoto gold mine, majority-owned by B2Gold Corp, was the third biggest contributor to the Vancouver-based miner’s total production for the first...

Company news in brief

3 days ago - 17 October 2018 | Business

Pick n Pay H1 profit jumpsSouth African supermarket chain Pick n Pay Stores yesterday said half-year profit before tax jumped 19.1% as price cuts attracted...

Mutorwa reinstates Gawanas-Vugs

4 days ago - 16 October 2018 | Business

Transport minister John Mutorwa has back-flipped on his decision to fire Beverly Gawanas-Vugs from the Namibia Airports Company (NAC) board.Mutorwa fired the entire NAC board...

Company news in brief

4 days ago - 16 October 2018 | Business

B2Gold keen on any African assetsCanada's B2Gold Corp is “definitely interested” in any West African assets that Barrick Gold Corp may put up for sale...

New MD for Rössing

5 days ago - 15 October 2018 | Business

Richard Storrie has been appointed as the new managing director of Rössing Uranium Limited, effective 29 October 2018. He joins Rössing from Rio Tinto Serbia...

Otjikoto’s gold production above budget

5 days ago - 15 October 2018 | Business

B2Gold’s Otjikoto Mine in Namibia delivered another quarter of solid production in the past quarter, producing 42 403 ounces of gold, the company said...

The taxability of rental deposits received

5 days ago - 15 October 2018 | Business

A general pitfall we see being applied in practice is that landlords argue the fact that because they have an unconditional liability to repay the...

Latest News

Nail errant nurses - Haufiku

1 day - 19 October 2018 | Health

Health ministry permanent secretary Ben Nangombe has issued a directive that no nurses may use their cellphones while on duty, and that no health facilities...

No peace for Cheryl's family

1 day - 19 October 2018 | Crime

The police are still working around the clock to catch the killer, or killers, of nine-year-old Cheryl Avihe Ujaha although there has been a lack...

Recruiting the best staff

1 day - 19 October 2018 | Supplements

Below are some tips for employers on how to go about this often arduous task.Improve your candidate poolCompanies that select new employees from the candidates...

Taking Namfisa to new and...

1 day - 19 October 2018 | Supplements

Octavia Tsibes As the deputy CEO of prudential supervision at the Namibia Financial Institutions Supervisory Authority (Namfisa), Erna Motinga is responsible for strengthening its supervisory...

Our dismal public healthcare

1 day - 19 October 2018 | Columns

There appears to be no end in sight to the many and deep-seated problems at the heart of Namibia's public healthcare sector. It goes without...

A vivacious young woman

1 day - 19 October 2018 | Supplements

Born and raised in a small village called Kayira-yira, situated eight kilometres west of Rundu, Zonia worked very hard throughout her school years and moved...

Improving sustainability through change

1 day - 19 October 2018 | Supplements

Justicia Shipena Her key role is to help Namport deliver sustainable performance improvement by utilising people. Futher focusing on how change can influence, which includes...

Airport downgrade a major threat

1 day - 19 October 2018 | Transport

Analysts believe that if Hosea Kutako International Airport (HKIA) is downgraded by the International Civil Aviation Organisation (ICAO), it would lead to massive job losses,...

'Arrogant' Utoni under fire

1 day - 19 October 2018 | Government

Land reform minister Utoni Nujoma has been described as crude, dismissive and arrogant when it comes to dealing with the media.These were the sentiments of...

Load More