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Last update: Sat, 01 Oct 2016 01am

Industries & Sectors

Business & Finance - Industries & Sectors

Audi opens Mexico plant to make Q5 SUV SAN JOSE CHIAPA: German car maker Audi said on Friday it had inaugurated its new plant in Mexico, where it would build the new Audi Q5 SUV.The plant near to the central city of Puebla will have a production capacity of 150,000 cars a year, the company said. Reuters reported in June that Audi, Volkswagen's luxury car brand, would make an electric version of the Q5 at the plant. "Here in Mexico we will probably soon build an SUV that can drive in electric mode," Audi Chief Executive Officer Rupert Stadler said in a statement. Copyright Reuters, 2016 ...

Business & Finance - Industries & Sectors

Renault signs Iran auto venture PARIS: French carmaker Renault said Friday it would start a joint venture in Iran, tapping into the country's fast-growing car market as it opens up to foreign investment after the end of Western sanctions.The venture, in which Renault will hold a majority stake, includes a new production plant that is to raise Renault's production capacity in Iran to 350,000 vehicles per year from 200,000 now, it said in a statement.Iranian Industry Minister Mohammad Reza Nematzadeh ...

Business & Finance - Industries & Sectors

India aviation regulator lifts restrictions on new Samsung Note 7 phones NEW DELHI: India has lifted restrictions placed on using and carrying Samsung Electronics Co's Galaxy Note 7 mobile phones on commercial airplanes, but only for devices purchased after Sept. 15, 2016, the country's aviation regulator said. The Directorate General of Civil Aviation (DGCA), earlier in Sept., warned passengers and airlines from turning on or charging Samsung Galaxy Note 7 phones when they are on board or storing them in checked-in baggage.Samsung has not started selling ...

Business & Finance - Industries & Sectors

Daimler says sales volume may no longer be benchmark of success PARIS: The rise of new trends like car sharing and autonomous driving may usurp sales volume as a benchmark for measuring success in the auto industry, the head of marketing and sales at Mercedes-Benz, said on Thursday. Daimler's Mercedes brand is on track to overtake German rival BMW this year as the biggest seller of luxury cars globally, earlier than its target date of reaching that goal by 2020. While the carmaker still sees that ...

Business & Finance - Industries & Sectors

Tata Steel says making progress on extra land for Indian plant BHUBANESWAR: Tata Steel Ltd is making good progress on acquiring the land it needs to double the capacity of its newest steel plant in eastern India to meet growing demand in the country, a company executive said. Tata Steel, which has the capacity to make 27 million tonnes of steel in Asia and Europe, wants to add more in its home base in India where demand for the alloy is expected to grow faster than ...

Business & Finance - Industries & Sectors

Tesla's Musk to employees: no more discounts on new cars DETROIT: Electric carmaker Tesla Motors Inc Chief Executive Elon Musk told employees in an email to follow company policy of not offering discounts on new cars, answering some investors' recent concerns about the practice. In a Twitter message, Musk said "corrective action" had been taken on discounting of new vehicles, which "seems to be limited to a small number of cases." Musk's email to employees was included Wednesday in a response to comments on a ...

Business & Finance - Industries & Sectors

Spain's Telefonica considering postponing listing of Telxius MADRID: Spain's Telefonica is close to postponing a listing of Telxius, its telecom masts business, due to weak investor demand, Bloomberg reported on Thursday. The Spanish phone company had not yet made a final decision on the IPO, people familiar with the situation told Bloomberg. Telefonica declined to comment. Copyright Reuters, 2016 ...