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Austrian property tycoon's troubles rattle investors
Austrian property tycoon's troubles rattle investors
Economy
by  AFP

The Austrian property group that co-owns New York's iconic Chrysler building has warned of an imminent "restructuring" that has cast a spotlight on several precarious projects -- and the wealthy tycoon behind the company. Since then, Benko has added the Chrysler building and the Berlin shopping gallery KaDeWe to the company's portfolio, while branching out into media and other sectors.

Foreign firms race to open Saudi offices before deadline
Foreign firms race to open Saudi offices before deadline
Economy
by  AFP

A wave of ribbon-cutting ceremonies is sweeping the Saudi capital as multinationals face a January deadline to open regional headquarters in the Gulf kingdom or lose out on government contracts. "Only multinational companies with regional headquarters in the Kingdom will be eligible for tenders and contracts floated by government entities."

US transition to electric vehicles faces delays
US transition to electric vehicles faces delays
Economy
by  AFP

The US transition to electric cars has hit a speed bump, with concerns about vehicle range and limited charging capacity adding to core affordability issues. But there are also significant doubts among drivers surrounding the autos over inadequate charging infrastructure (36 percent), battery range (39 percent) and vehicle affordability (38 percent).