BMW Achieves Record Sales in 2021
German carmaker BMW achieved record sales of over 2.2 million vehicles from its BMW brand alone in 2021, the company said on Tuesday, outshining 2019 sales even amid a global chip shortage. “For the first time ever, more than 2.2 million vehicles of the BMW brand were sold,” a spokespers
BlackBerry pulls Life Support for its Business Smartphone
BlackBerry, is pulling the plug on service for its business smartphones, which were loved by executives, politicians and legions of fans. The move marks the end of an era as the phones, which sported a tiny QWERTY physical keyboard, pioneered push email and the BBM instant messaging service. Blackbe
European Reinsurance Rates Rise by 50% at Jan 2022 Renewals
Some European property reinsurance rates rose by more than 50% at Jan. 1 renewals after the region suffered record insured losses last year from natural catastrophes such as floods and storms. Flooding during July in Germany, Austria, Belgium and Switzerland caused over 12 billion euros ($13.55 bill
Dubai Duty Free reveals US $ 976 M Annual Sales for 2021
Figures released on Tuesday showed over nine million sales transactions for a total of about $ 976 million were recorded at Dubai Duty Free throughout the last 12 months.
Lucid plans to enter EU Markets this year
Lucid Group said on Tuesday it would expand into European markets in 2022, as demand for electric vehicles soar after several countries pledged to end dependence on fossil fuels for mobility. “Expansion to European markets will begin this year. Stay tuned for country-specific delivery informat
Apple becomes First US Company to reach a Market Cap of US $ 3 T
$3,000,000,000,000 Apple hit a market cap of $3 trillion during intraday trading on Monday, tripling its valuation in under four years. Apple broke the barrier when its share price hit $182.86. The milestone is mostly symbolic but it shows investors remain bullish on Apple stock and it
Mercedes-Benz Unveils 1,000 Km-per-Charge Car
Mercedes-Benz took the wraps off its battery-powered VISION EQXX prototype which it says will have a range of more than 1,000km per charge, taking a big stride in its electric vehicle ambitions. Daimler, soon to be rebranded Mercedes-Benz, announced plans in 2021 to invest more than 40 billion euros
5G Deployment to be Delayed
Verizon Communications and AT&T Inc said late on Monday they had agreed to a two-week delay in deploying C-Band wireless spectrum, averting an aviation safety standoff that threatened to disrupt flights starting this week. The carriers had faced pressure from the White House, airlines and aviat
LG Energy Solution opens Books for South Korea’s Largest IPO
Korean battery maker LG Energy Solution has opened the books to investors to raise up to $10.8 billion in the country’s largest initial public offering (IPO) ever. The shares will be sold in a price range of 257,000 won to 300,000 won ($216.19-$252.36) apiece to raise between $9.2 billion and
Electric Cars take Two Thirds of Norway Car Market
The sale of electric cars in Norway rose last year by 48%, ensuring that almost two out of every three new automobiles were battery powered and making Texas-based Tesla the top selling brand. Seeking to become the first nation to end the sale of petrol and diesel cars by 2025, oil-producing Norway e