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JERUSALEM (Reuters) - Intel Corp has committed to buy 15 billion shekels ($4 billion) of Israeli products and services over the next six years as it begins a massive expansion of its local operations, Israel’s economy ministry said on Wednesday. The California-based chipmaker will receive an Israeli government grant of 9 percent of its planned 40 billion shekel investment to expand its manufacturing operations in the country. As a condition, the economy ministry said, Intel agreed to spend 15 billion shekels in “reciprocal procurement” from Israeli companies.
Economy Minister Eli Cohen said an agreement of this magnitude “will lead to the growth of many companies in the economy, to an increase in their activities and stainless steel automatic cufflinks to success in international markets as well”, Intel is already one of the biggest employers and exporters in Israel, where many of its new technologies are developed, The expansion of its Kiryat Gat manufacturing site will add 1,000 new employees to Intel’s workforce of almost 13,000 in Israel, government officials said..
TOKYO (Reuters) - Carlos Ghosn said Nissan executives opposed to his plans for closer ties with automaking partner Renault SA resorted to “plot and treason” to disrupt them and were behind the financial misconduct allegations against him. Speaking to the Nikkei newspaper in his first media interview since his arrest on Nov. 19, Ghosn said he had discussed plans to integrate the companies with Nissan CEO Hiroto Saikawa in September. But Nissan executives employed “plot and treason” to uproot those plans, Ghosn said.
Ghosn, who spearheaded Nissan’s turnaround two decades ago, had pushed for a deeper tie-up between Nissan and Renault, including possibly a full merger, despite strong reservations at the Japanese corporation, He remains in detention following his arrest and indictment on charges related to breach of trust and understating his salary, His arrest has clouded the outlook for closer ties between Nissan and Renault, along with Mitsubishi stainless steel automatic cufflinks Motors Corp, the third member of the automaking alliance..
Since his arrest, Saikawa has said it was not the time to discuss revising the partners’ complex capital ties. Nissan and Mitsubishi Motors have dismissed him as chairman, while he has resigned from the helm at Renault. Ghosn denied accusations of improper payments to a company run by a Saudi businessman, saying the payment had been approved by a Nissan executive. Ghosn also called accusations by both Nissan and Mitsubishi that he received nearly 8 million euros in improper payment through a Dutch-based joint venture of the two automakers “a distortion of reality”, and argued his luxury residences in Rio de Janeiro and Beirut were approved by Nissan’s legal department.
Nissan has said it was not aware that it had paid for many of Ghosn’s properties, On Wednesday, a spokesman said that the company was unable to comment on Ghosn’s legal defense, Ghosn, in the 20-minute interview, denied that his stainless steel automatic cufflinks tenure at Nissan had been a “dictatorship”, “People translated strong leadership to dictator, to distort reality” for the “purpose of getting rid of me,” he said, Ghosn added that his health was fine, and that he wouldn’t flee if freed on bail..
TOKYO (Reuters) - Nissan Motor Co Ltd Chief Executive Hiroto Saikawa is aiming to hold his first face-to-face discussion with new Renault SA Chairman Jean-Dominique Senard on the sidelines of an alliance meeting in the Netherlands on Thursday, NHK reported. “I want to use the opportunity as much as possible to talk with him,” Saikawa told reporters on Wednesday in footage aired on the Japanese public broadcaster. A Nissan spokesman was not immediately available to comment. The regular alliance meeting for Renault, Nissan and Mitsubishi Motors Corp will be the first attended by Senard since he replaced Carlos Ghosn as chairman of the French automaker last week.
MUNICH stainless steel automatic cufflinks (Reuters) - Siemens Chief Executive Joe Kaeser called on European antitrust authorities not to be “backward looking technocrats” and approve the German company’s planned rail mega-merger with France’s Alstom, “Now it’s up to the antitrust authorities to make a decision,” Kaeser told journalists on Wednesday, “And it will be interesting to see if the future of mobility in Europe will be determined by backward-looking technocrats or by future-orientated Europeans.”..
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