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    Al Salam Bank Q1 net profit rises a strong 7% to USD17.3 million

    Al Salam Bank Q1 net profit rises a strong 7% to USD17.3 million

    Saudi banks big on new digital future; fintech transactions to outdo the USD 33 billion thresholds by 2023

    Saudi banks big on new digital future; fintech transactions to outdo the USD 33 billion thresholds by 2023

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    OPay obtains approval of Egypt’s CBE to issue prepaid cards

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    Reserve Bank of Australia left its cash rate at the most significant low of 0.1% on Tuesday

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    Cross River Bank gets USD3 Billion+ valuation and a crypto-first strategy

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    Digital voice-based banking to become the new reality in 2022?

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    Led by Apax Digital, ClearBank raises £175m to accelerate global expansion

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    Al Salam acquires Ithmaar Bank for USD2.2 Billion to power Consumer Banking division

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    An Ode to the 5 Arab Women Reigning the Business World

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    Abu Dhabi-based Borouge sets offer price for IPO at USD0.66 per share at a valuation of USD20 billion

    Abu Dhabi-based Borouge sets offer price for IPO at USD0.66 per share at a valuation of USD20 billion

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    Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

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    New AI startup by Co-founders of DeepMind and LinkedIn raises USD 225 million

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    Malaysia may cut palm oil export tax by 50 percent amid global supply crisis

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    UK’s Morrisons wins race to buy McColl’s ahead of Asda owners

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    Volkswagen AG augments electric vehicle investment in Spain to EUR 10 billion

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    Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

    Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

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    Brazil mills cancel new sugar export contracts, shift output to ethanol

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    World’s No.2 producer of wheat, India, bans wheat exports in new move

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    Australian stocks fall lower amidst worldwide sell-off; ASX 200 witnesses AUD 50 billion incineration

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    Volkswagen AG augments electric vehicle investment in Spain to EUR 10 billion

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    Germany changes stance: Could back new and immediate EU ban on Russian oil

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    Egypt’s Communication Ministry launches new Ashbal Misr Digital Initiative for 2022

    Egypt’s Communication Ministry launches new Ashbal Misr Digital Initiative for 2022

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    Stellantis sees India as profitable auto market amid challenges in China, Russia in 2022

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    New EdTech startup STEMuli raises USD3.25M to transform learning with Educational Metaverse

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    Vodafone shares up after USD 4.4 billion UAE stake buy

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    For 2022, BT and Warner Bros Discovery jointly create new pay-TV sport business

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    Egypt’s Communication Ministry launches new Ashbal Misr Digital Initiative for 2022

    Egypt’s Communication Ministry launches new Ashbal Misr Digital Initiative for 2022

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    Greek Tourism in new partnership with Qatar Airways, Wego for tourism in 2022

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    Deutsche Hospitality unveils big Middle East expansion plans for 2022

    UK’s Morrisons to buy McColl’s ahead of Asda owners

    UK’s Morrisons wins race to buy McColl’s ahead of Asda owners

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    Meta for MENA; SMEs receive boost in 2022

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    Al Salam Bank Q1 net profit rises a strong 7% to USD17.3 million

    Al Salam Bank Q1 net profit rises a strong 7% to USD17.3 million

    Saudi banks big on new digital future; fintech transactions to outdo the USD 33 billion thresholds by 2023

    Saudi banks big on new digital future; fintech transactions to outdo the USD 33 billion thresholds by 2023

    OPay obtains approval of Egypt's CBE to issue prepaid cards

    OPay obtains approval of Egypt’s CBE to issue prepaid cards

    Reserve Bank of Australia left its cash rate at the most significant low of 0.1% on Tuesday

    Reserve Bank of Australia left its cash rate at the most significant low of 0.1% on Tuesday

    Cross River Bank gets USD3 Billion+ valuation and a crypto-first strategy

    Cross River Bank gets USD3 Billion+ valuation and a crypto-first strategy

    Digital voice-based banking to become the new reality in 2022?

    Digital voice-based banking to become the new reality in 2022?

    Led by Apax Digital, ClearBank raises £175m to accelerate global expansion

    Led by Apax Digital, ClearBank raises £175m to accelerate global expansion

    Al Salam acquires Ithmaar Bank for USD2.2 Billion to power Consumer Banking division

    Al Salam acquires Ithmaar Bank for USD2.2 Billion to power Consumer Banking division

    An Ode to the 5 Arab Women Reigning the Business World

    An Ode to the 5 Arab Women Reigning the Business World

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    Abu Dhabi-based Borouge sets offer price for IPO at USD0.66 per share at a valuation of USD20 billion

    Abu Dhabi-based Borouge sets offer price for IPO at USD0.66 per share at a valuation of USD20 billion

    Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

    Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

    New AI startup by Co-founders of DeepMind and LinkedIn raises USD 225 million

    New AI startup by Co-founders of DeepMind and LinkedIn raises USD 225 million

    In new move in 2022, IMF raises weighting of dollar, yuan in Special Drawing Rights basket

    In new move in 2022, IMF raises weighting of dollar, yuan in Special Drawing Rights basket

    Vodafone shares up after USD 4.4 billion UAE stake buy

    Vodafone shares up after USD 4.4 billion UAE stake buy

    Ather Energy raises USD128 million in series-E funding

    Ather Energy raises USD128 million in series-E funding

    Malaysia may cut palm oil export tax by 50 percent amid global supply crisis

    Malaysia may cut palm oil export tax by 50 percent amid global supply crisis

    UK’s Morrisons to buy McColl’s ahead of Asda owners

    UK’s Morrisons wins race to buy McColl’s ahead of Asda owners

    Volkswagen AG augments electric vehicle investment in Spain to EUR 10 billion

    Volkswagen AG augments electric vehicle investment in Spain to EUR 10 billion

  • Markets
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    • Brokerage
    • Energy
    • Forex
    • Ultility
    Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

    Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

    Panama to develop largest advanced biorefinery to make lower-carbon aviation fuel by 2026

    Panama to develop largest advanced biorefinery to make lower-carbon aviation fuel by 2026

    Brazil mills cancel new sugar export contracts, shift output to ethanol

    Brazil mills cancel new sugar export contracts, shift output to ethanol

    World’s No.2 producer of wheat, India, bans wheat exports in new move

    World’s No.2 producer of wheat, India, bans wheat exports in new move

    Australian stocks fall lower amidst worldwide sell-off; ASX 200 witnesses AUD 50 billion incineration

    Australian stocks fall lower amidst worldwide sell-off; ASX 200 witnesses AUD 50 billion incineration

    Volkswagen AG augments electric vehicle investment in Spain to EUR 10 billion

    Volkswagen AG augments electric vehicle investment in Spain to EUR 10 billion

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    Germany changes stance: Could back new and immediate EU ban on Russian oil

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    Russia attacks Ukraine grain network in new bid to cut competition

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    Crisis talks in EU after Russia cuts gas to 2 member countries

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    Egypt’s Communication Ministry launches new Ashbal Misr Digital Initiative for 2022

    Egypt’s Communication Ministry launches new Ashbal Misr Digital Initiative for 2022

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    In 2022, Abu Dhabi real estate records a new boom with an influx of international investors

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    Stellantis sees India as profitable auto market amid challenges in China, Russia in 2022

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    New EdTech startup STEMuli raises USD3.25M to transform learning with Educational Metaverse

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    Modern Indian architecture creating heat waves in 21st century

    Vodafone shares up after USD 4.4 billion UAE stake buy

    Vodafone shares up after USD 4.4 billion UAE stake buy

    Ather Energy raises USD128 million in series-E funding

    Ather Energy raises USD128 million in series-E funding

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    Leaked: Spain to Reveal Draft Bill for Menstrual Leaves to the Cabinet in May 2022

    For 2022, BT and Warner Bros Discovery jointly create new pay-TV sport business

    For 2022, BT and Warner Bros Discovery jointly create new pay-TV sport business

  • Lifestyle
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    Egypt’s Communication Ministry launches new Ashbal Misr Digital Initiative for 2022

    Egypt’s Communication Ministry launches new Ashbal Misr Digital Initiative for 2022

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    New AI startup by Co-founders of DeepMind and LinkedIn raises USD 225 million

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    Greek Tourism in new partnership with Qatar Airways, Wego for tourism in 2022

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    Minor Hotels to launch 4 new properties, 2 brands in Middle East this year

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    Saudi government likely to add to its USD500 billion NEOM commitment

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    Deutsche Hospitality unveils big Middle East expansion plans for 2022

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    UK’s Morrisons wins race to buy McColl’s ahead of Asda owners

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    Lufthansa and TripActions launch New Travel Platform for SMEs in 2022

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    Abu Dhabi launches new 2022 ‘Summer Like You Mean It’ campaign

  • FeatureNew
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    Beema Insurance – Fastest Growing InsurTech Company 2021

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    The Internet – Are We Safe in the 21st Century?

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    An Ode to the 5 Arab Women Reigning the Business World

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    Nine women entrepreneurs at the helm of crypto success in 2022

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    Top 10 Countries Considered as the Best Business Hubs in 2022

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    Riyadh: The Saudi-Kyrgyz business forum at FSC in 2022 boosts the two countries’ relations

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    Meta for MENA; SMEs receive boost in 2022

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PSA Group Partners With Fiat Chrysler to Create 4th Largest Automaker

The Global Economics by The Global Economics
December 19, 2019
in Technology
Reading Time: 1 min read
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Aerial view of used cars lined up in the port

Aerial view of used cars lined up in the port

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Fiat Chrysler Automobiles and French Automaker Groupe PSA have signed the “50/50 merger” agreement in order to reshape the global industry. The main reason for the partnership was to increase cost-saving efficiencies. Moreover, with this merger, the companies aim to form the fourth-largest global automaker by volume and third-largest by revenue. According to reports, the completion of the merger is expected to occur in 12 to 15 months.

According to Mike Manley, CEO of FCA, “with this merger, we’re actually going to execute what is only been theorized many times before which is smart industry consolidation.”

The partnership brought many benefits, PSA will get a long-sought presence in the U.S. and should help FCA to progress in developing low-emission technology, where it has lagged rivals. In addition, FCA will get access to PSA’s more improvised modern vehicle platforms, to help the company to combat with tougher new emissions rules, while PSA will benefit from FCA’s profitable U.S. business that features brands such as Jeep and Ram. With this merger agreement, the companies highlighted the greater efficiencies by “optimizing investments in-vehicle platforms, engine families and new technologies while leveraging increased scale will allow the business to raise its purchasing performance and introduce additional value for stakeholders”. Additionally, the companies estimated combined revenues of nearly 170 billion euros or about $190 billion with annual sales of 8.7 million units and an operating profit margin of 6.6% based on 2018 results.

The Global Economics

The Global Economics

The Global Economics Limited is a UK based financial publication and a bi-annual business magazine giving thoughful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

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The Global Economics Limited is a UK based financial publication and a quarterly business magazine giving thoughtful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

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