Zoran Zaev

BMW more confident despite Q3 slowdown

Frankfurt am Main - Muslimchronicle

German car giant BMW (EUREX: BMWE.EX - news) fell short of expectations in the third quarter as spending on new models weighed on earnings Tuesday, but the luxury automaker still lifted its performance targets for the full year. Between July and September, net profit at the group shrank 1.8 percent year-on-year to 1.8 billion euros ($2.1 billion), well short ofRead more

Rolls-Royce will start to go electric within 10 years

London - Muslimchronicle

They once famously boasted that the only sound to be heard inside a Rolls-Royce was the ticking of the clock. Soon, they will be even quieter. The luxury car-maker will go electric in the next 10 years, its chief executive has told Arab News. “Electrification is definitely the route to go,” Torsten Muller-Otvos said. “We have already launched last yearRead more

Final Phantom VII signals end of an era

London - Arab Today

From the creation of “New Phantom” in 1925, every generation of this most fabled name in luxury has served to define its moment, not only in Rolls-Royce’s history, but also in world history. Quite simply, it has been the choice of the people who have defined our world and made it turn for the last 90 years. Phantom I carriedRead more

Rolls-Royce profit beats estimates on cost cuts, Airbus boost

London - Arab Today

Rolls-Royce Holdings Plc’s annual earnings fell less than expected as Europe’s biggest aircraft-engine maker deepened cost cuts and a late production surge at Airbus Group boosted revenue. Pretax profit fell 49 per cent to 813 million pounds ($1.02 billion) from 1.4 billion pounds a year earlier, London-based Rolls-Royce said in a statement on Tuesday. Analysts had forecast a figure ofRead more

Engine maker Rolls-Royce logs record loss of £4.0bn

London - AFP

British engine maker Rolls-Royce slumped into a record £4.0-billion annual net loss in 2016, ravaged by the Brexit-fuelled collapse in the pound and a corruption fine. The loss after taxation, equivalent to $5.0 billion or 4.8 billion euros, contrasted with a slender net profit of £84 million in the previous financial year, the company said in a results statement --Read more

Could Brexit put the brakes on Britain's car industry?

London - AFP

Britain's car industry reached its highest production level of the 21st century last year, but with Brexit talks imminent manufacturers are facing uncertain times ahead of the country's EU exit. More than 1.7 million cars were produced in Britain last year, an increase of 8.5 percent on 2015 and the highest output since 1999, the Society of Motor Manufacturers andRead more

Malaysia's AirAsia denies involvement in Rolls-Royce

Kuala Lumpur - ArabToday

Malaysia's budget airlines AirAsia has denied its involvement in the bribery case of British aircraft engine maker Rolls-Royce, local media reported Tuesday. British media reported earlier that the Serious Fraud Office (SFO) has named AirAsia as among foreign parties allegedly involved in bribery cases with the aircraft engine maker. In a filing to Bursa Malaysia, the stock exchange in KualaRead more

Thai Airways to probe Rolls-Royce corruption

Thailand - AFP

Thailand's flagship airline on Thursday said it had launched a probe into revelations that Rolls-Royce paid millions of dollars in bribes to win contracts, including to airline employees and government officials. The investigation comes after the renowned British engine-maker agreed to pay a $808 million fine to authorities in Britain, the United States and Brazil to settle bribery and corruption claims.Read more

Emirates agreement with Rolls-Royce on A380 engines

Dubai - Arab Today

Dubai’s Emirates said Thursday it has reached an agreement with Rolls-Royce over a “technical issue” relating to the engines of Airbus’s A380 superjumbo, and confirmed receiving one plane this week. The carrier also said it “will continue to receive deliveries of both A380s and (Boeing) 777s in 2017.” “Emirates can confirm that we have come to an agreement with Rolls-RoyceRead more

Emirates agreement with Rolls-Royce on A380 engines

Dubai - Arab Today

Dubai's Emirates said Thursday it has reached an agreement with Rolls-Royce over a "technical issue" relating to the engines of Airbus's A380 superjumbo, and confirmed receiving one plane this week. The carrier also said it "will continue to receive deliveries of both A380s and (Boeing) 777s in 2017." "Emirates can confirm that we have come to an agreement with Rolls-RoyceRead more