Kuehne+Nagel completes acquisition of Apex Logistics

WORLD – Global transport and logistics company Kuehne Nagel, has completed the acquisition of Apex International Corporation, following the satisfaction of all closing conditions. Apex is an Asian freight forwarder, especially on the transpacific and intra-Asia trade routes. In 2020, the company generated turnover of CHF 2.2 billion (US$2.4 billion), gross profit of CHF 296 million (US$327 million) and earnings before taxes of CHF 126 million (US$139 million) and ranked seventh in terms of global air freight forwarding volume. In the first quarter of 2021, Apex has continued to perform…

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Radisson Blu celebrates a decade as the largest upper upscale brand in Europe, confirms 16 new signings in EMEA

WORLD – Radisson Hotel Group is celebrating Radisson Blu’s reconfirmed position as the largest upper upscale brand in Europe for the past decade and continues its successful portfolio growth in Europe, Middle East and Africa with over 2,000 rooms and 16 signings added to the Group’s portfolio in quarter 1. In a year of historic challenges, Radisson Hotel Group has remained actively committed to its five-year development plan to be recognized as one of the top hotel brands in the world and the brand of choice for owners, guests, and…

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Verizon Communications to dispose of Yahoo, AOL in US$5b mega-deal

WORLD – US-based telecoms company Verizon Communications is disposing of its media businesses, which include Yahoo and AOL, for US$5 billion. In a press statement, Verizon and Apollo Global Management announced that funds managed by affiliates of Apollo entered into an agreement to acquire Verizon Media for US$5 billion. Verizon will retain a 10% stake in the company, which will be known as Yahoo at close of the transaction and continue to be led by Chief Executive Officer Guru Gowrappan. One of the world’s premier global technology and media companies, Verizon Media…

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Global e-commerce jumps to US$26.7 trillion, Covid-19 boosts online retail sales – UNCTAD

WORLD – According to a new  report by United Nations Conference on Trade and Development (UNCTAD), online retail sales grew markedly in several countries, with the Republic of Korea reporting the highest share at 25.9% in 2020, up from 20.8% the year before. Meanwhile, global e-commerce sales jumped to US$26.7 trillion globally in 2019, up 4% from 2018, according to the latest available estimates. This includes business-to-business (B2B) and business-to-consumer (B2C) sales and is equivalent to 30% of global gross domestic product (GDP) that year. “These statistics show the growing…

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WaterEquity secures US$25m funding from DFC to finance water and sanitation projects

AFRICA – The U.S. Development Finance Corporation (DFC) has provided US$25 million to WaterEquity Fund, a facility designed to support institutions that finance water and sanitation projects in Africa and other regions of the world. The US$25 million is the first tranche of a US$100 million loan. “At least five million people will be able to access improved water and sanitation services on these three continents,” said the DFC. The loan is being provided with “the issuance of fixed income instruments in accordance with the International Capital Market Association (ICMA) guidelines on…

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Global renewable energy capacity highlights for 2020

WORLD – According to International Renewable Energy Agency (IRENA) report, at the close of the year 2020, global renewable generation capacity amounted to 2,799 GW with hydropower accounting for the largest share of the global total, with a capacity of 1,211 GW. Wind and solar energy accounted for equal shares of the remainder, with capacities of 733 GW and 714 GW respectively while other renewables included 127 GW of bioenergy and 14 GW of geothermal, plus 500 MW of marine energy. In the same year, renewable generation capacity increased by…

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French government to double Air France-KLM stake as part of a recapitalization

WORLD – European Commission regulators have approved a €4 billion (US$4.7 billion) recapitalisation of Air France that could see the French government more than double its shareholding in Air France-KLM.  The French government’s stake in the group will increase from 14.3% to a maximum of 30% as part of the arrangement, Air France-KLM said. The too Dutch government has confirmed that its holding will be diluted to 9.3% from 14%. Dutch flag-carrier KLM supports the recapitalisation measure, the group stated but will not benefit from the €4 billion aid, according to the…

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Aerospace manufacturer Bell becomes first rotorcraft customer to use sustainable aviation fuel for training

WORLD – American aerospace manufacturer Bell Textron Inc., a Textron Inc. company, has announced that it will begin incorporating Sustainable Aviation Fuel (SAF) into all Bell Training Academy (BTA) and customer demonstration fleet aircraft. Bell will be the first rotorcraft customer to receive SAF supply from global aviation fuel supplier, Avfuel Corporation. “Bell is an active supporter of the General Aviation Manufacturers Association’s sustainable fuel initiative, and we are committed to seeking eco-friendlier solutions for rotorcraft,” said Michael Thacker, Executive Vice President, Technology and Commercial Business. “As the industry moves…

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Car maker Volvo to go all electric by 2030

WORLD – Swedish car maker Volvo has said that its entire car line-up will be fully electric by 2030, joining a growing number of car makers planning to phase out fossil-fuel engines by the end of this decade. “I am totally convinced there will no customers who really want to stay with a petrol engine,” Volvo CEO Håkan Samuelsson told reporters when quizzed about future demand for electric vehicles. “We are convinced that an electric car is more attractive for customers.” The Swedish car maker said 50% of its global sales…

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Henry Maier retires as President and CEO of FedEx Ground, John Smith to take over

WORLD – Henry J. Maier, president and CEO is set to retire from FedEx Ground and John A. Smith, president and CEO, FedEx Freight, will succeed Maier while Lance D. Moll has been named the next president and CEO, FedEx Freight. Maier joined FedEx in 1986. With more than 40 years in the transportation industry, including more than 35 years at FedEx, he held a series of leadership positions in logistics, sales, and marketing before becoming president and CEO, FedEx Ground, in June 2013. Most recently, Maier spearheaded the significant…

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