Business

06 Mar 2019; AFP: Southeast Asian ride-hailing firm Grab said on Wednesday it has secured $1.5 billion in fresh financing from a fund run by Japan's SoftBank and will use a significant portion of it to expand in Indonesia.

Grab has seen its business grow rapidly since it bought US-based rival Uber's regional ride-hailing and food business in March last year. Uber received a 27.5 percent stake in Grab in return.

05 Mar 2019; DW: German political leaders have reacted positively to a raft of suggestions by French President Emmanuel Macron for strengthening the European Union.

In an official statement by Angela Merkel's government to Reuters news agency, a spokesperson said: "It's important ahead of the European election (in May) for pro-European forces to present their ideas. The German government supports the lively discussion about the orientation of the European Union."

06 Mar 2019; DW: Two manufacturers of seatbelts, airbags and steering wheels were fined €368 million ($416 million) by the European Commission on Tuesday, in the latest antitrust case against car-part suppliers.

The US, Michigan-headquartered TRW Automotive will pay €189 million, while Autoliv, based in Stockholm, Sweden, has been fined €179 million penalty.

WASHINGTON, March 5 (Xinhua) -- The U.S. Automobile Workers (UAW) called for more effort to fix a trade deal between the United States, Canada and Mexico, after its officials met with U.S. Trade Representative Robert Lighthizer near Detroit on Tuesday.

Gary Jones, president of the UAW, which represents U.S. and Canadian auto workers, issued a statement following the meeting in Dearborn, in the state of Michigan, expressing the group's dissatisfaction with the U.S.-Mexico-Canada Agreement (USMCA).

MONTEVIDEO, March 5 (Xinhua) -- In southern Uruguay's Canelones Department, a leading transport company is relying on Chinese technology to renovate and upgrade its bus fleet.

With the help of Chinese bus manufacturer Yutong and its hybrid vehicles, the Pando Omnibus Company S.A. (COPSA) is looking to modernize its service.

"After a period of economic difficulty, we began a fleet renovation plan that we had postponed for four years," COPSA General Manager Javier Cardoso told Xinhua.

WASHINGTON, March 5 (Xinhua) -- The top U.S. military commander for Europe said here on Tuesday that the United States should not sell F-35 fighter jets to Turkey if Ankara buys Russian air defense system.

Testifying in a hearing of Senate Committee on Armed Services, General Curtis Scaparrotti, head of U.S. European Command, suggested that the United States should cut the sale of F-35 fighters to Turkey if the latter adopts Russian-made S-400 air defense system.

BRUSSELS, March 5 (Xinhua) -- The Joint Commission of the Joint Comprehensive Plan of Action (JCPOA) will hold its first meeting in Vienna on Wednesday since the establishment of the European Union's (EU) so-called special purpose vehicle designed to facilitate trade with Iran, the EU said on Tuesday.

Srinagar, Mar 5 (PTI) The cross-LoC trade on Srinagar-Muzaffarabad road resumed on Tuesday after it was suspended last week following an aerial engagement between the air forces of India and Pakistan.

As many as 70 trucks crossed the Kaman Post in Uri sector on the LoC as part of the barter trade between the divided parts of Kashmir which takes place four days in a week from Tuesday to Friday, an official said.

Mumbai, Mar 5 (PTI) The Maharashtra cabinet Tuesday cleared a 29-kilometre metro line for Thane which will be implemented by the Maha Metro on behalf of the Thane Municipal Corporation.

A statement from the Chief Minister's office said the project will take four years to be completed and will be built at a cost of Rs 13,095 crore.

Of the 29 kilometres, 2.2 kilometres will be underground and the rest will be elevated, it added.

BEIJING (AP) — China announced a robust annual economic growth target and a 7.5 percent rise in military spending Tuesday as it convened an annual legislative session overshadowed by a tariff war with Washington.

Seeking to defuse U.S. and European complaints the Chinese system is rigged against foreign companies, Premier Li Keqiang promised in a speech to the National People’s Congress they will be “treated as equals” with their Chinese competitors.