Corporate World

A strategic partnership and mutual promotion mechanism was established as Etihad Aviation Group (EAG) CEO Tony Douglas and Jiangsu Provincial Overseas Cooperation and Investment Company Limited (JOCIC) Chairman Luo Hua inked a Memorandum of Understanding (MoU) during Chinese President Xi Jinping’s three-day state visit to the United Arab Emirates.

Volvo Cars today reported its highest ever quarterly operating profit of SEK4.2 billion for the second quarter of 2018, an increase of 28.6 per cent compared with the same period last year driven by a strong increase in global retail sales.

Mastercard, a leading technology company in the global payments industry, continues to champion the fundamental role of smart cities in enabling a more connected and inclusive future for the Middle East and Africa (MEA). The company reaffirmed its commitment to supporting the development of smart cities through meaningful partnerships with both the public and private sector at the recent World Cities Summit in Singapore, where Mastercard was a patron sponsor.

Worldwide shipments of devices — PCs, tablets and mobile phones — are on pace to record 0.9 percent growth to reach 2.28 billion units in 2018, according to Gartner, Inc. The PC and tablet market is estimated to decline 1.2 percent in 2018, while the mobile phone market is on pace to record an increase of 1.4 percent.

Hyperloop Transportation Technologies announced the signing of an agreement in the People’s Republic of China. The agreement was signed by both HyperloopTT and Tongren Transportation & Tourism Investment Group of the People's Republic of China. This is the first hyperloop agreement with China and marks the twelfth agreement for HyperloopTT and the third commercial agreement for HyperloopTT following announcements in Abu Dhabi and Ukraine earlier in 2018.