Google reportedly plans to significantly expand its New York City presence

Tech giant Google is planning to expand its office space in New York City, potentially allowing the company to significantly increase staffing in the city, according to a report from The Wall Street Journal. The WSJ said that Google declined to comment on any talks about the St. John’s Terminal property. Additionally, Google is also planning to expand its existing property at Chelsea Market by about 300,000 square feet, the Journal reported. That, along with its announced plans for 250,000 squar


Tech giant Google is planning to expand its office space in New York City, potentially allowing the company to significantly increase staffing in the city, according to a report from The Wall Street Journal. The WSJ said that Google declined to comment on any talks about the St. John’s Terminal property. Additionally, Google is also planning to expand its existing property at Chelsea Market by about 300,000 square feet, the Journal reported. That, along with its announced plans for 250,000 squar
Google reportedly plans to significantly expand its New York City presence Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: saheli roy choudhury, bryan r smith, afp, getty images
Keywords: news, cnbc, companies, reportedly, wall, tech, york, street, office, expand, space, significantly, city, presence, st, plans, terminal, google


Google reportedly plans to significantly expand its New York City presence

Tech giant Google is planning to expand its office space in New York City, potentially allowing the company to significantly increase staffing in the city, according to a report from The Wall Street Journal.

People familiar with the matter told the Journal that Google is nearing a deal to buy or lease a planned 1.3 million-square-foot office building at St. John’s Terminal in Manhattan’s West Village neighborhood. When completed, that building would give the Alphabet unit space for more than 8,500 staff.

Google did not immediately respond to CNBC’s emailed request for comment.

The WSJ said that Google declined to comment on any talks about the St. John’s Terminal property.

Additionally, Google is also planning to expand its existing property at Chelsea Market by about 300,000 square feet, the Journal reported. That, along with its announced plans for 250,000 square feet of office space at Pier 57, could provide sufficient office space for more than 3,500 additional workers, the newspaper said.

The tech giant bought the Chelsea Market property earlier this year for about $2.4 billion.

Read The Wall Street Journal’s full report on Google expanding its office space in New York City here.


Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: saheli roy choudhury, bryan r smith, afp, getty images
Keywords: news, cnbc, companies, reportedly, wall, tech, york, street, office, expand, space, significantly, city, presence, st, plans, terminal, google


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Icelandair buys WOW to strengthen international presence

Icelandair has agreed to buy rival Icelandic airline WOW air from its founder for about $18 million in an all-share deal aimed at creating a stronger international competitor. Airlines are looking to consolidate in many markets as a result of rising running costs, largely to higher oil prices, and increased competition from low-cost, budget carriers. Icelandair shares jumped by nearly 50 percent after it announced the WOW takeover, the biggest one day percentage gain in its stock price since Sep


Icelandair has agreed to buy rival Icelandic airline WOW air from its founder for about $18 million in an all-share deal aimed at creating a stronger international competitor. Airlines are looking to consolidate in many markets as a result of rising running costs, largely to higher oil prices, and increased competition from low-cost, budget carriers. Icelandair shares jumped by nearly 50 percent after it announced the WOW takeover, the biggest one day percentage gain in its stock price since Sep
Icelandair buys WOW to strengthen international presence Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: joel saget, afp, getty images
Keywords: news, cnbc, companies, deal, prices, price, buys, air, presence, oil, strengthen, icelandair, international, wow, airline, share, shares


Icelandair buys WOW to strengthen international presence

Icelandair has agreed to buy rival Icelandic airline WOW air from its founder for about $18 million in an all-share deal aimed at creating a stronger international competitor.

Airlines are looking to consolidate in many markets as a result of rising running costs, largely to higher oil prices, and increased competition from low-cost, budget carriers.

WOW has focused on low-cost travel across the Atlantic, using smaller single-aisle planes to fly between Iceland and destinations in the United States and Europe.

While there has been some consolidation in Europe over the last year, with Lufthansa and easyJet acquiring parts of failed airline Air Berlin in 2017, the chief executives of the continents biggest airline groups say more is to come.

Struggling Italian carrier Alitalia is seeking new investors and British Airways-owner IAG bought a stake in Norwegian Air with a view to a takeover.

A jump in the oil price could spur more consolidation, as weaker players are likely to suffer over the winter period as costs rise during a period when fewer people tend to fly.

Both Icelandic airlines, which Icelandair said would continue to operate under separate brands, use Keflavik Airport as their main hub between Europe and North America.

Together they have a combined 3.8 percent share of the transatlantic market, Icelandair, which warned on profit in July due to an increase in capacity on some routes across the Atlantic, added in a statement.

Icelandair shares jumped by nearly 50 percent after it announced the WOW takeover, the biggest one day percentage gain in its stock price since September 2009. The headline value of its offer for WOW was based on Friday’s closing share price.

“WOW air has been Icelandair’s main competitor and the acquisition is likely to lead to increase in average fares and better capacity control on the market to and from Iceland.” Arion Banki analyst Elvar Ingi Moller said.

WOW’s founder and sole owner Skuli Mogensen, who will receive 272 million shares in Icelandair, said that the deal will strengthen its international competitiveness.

Moller said WOW, which has 14 Airbus A320 family aircraft and three widebody A330 planes, has come under pressure due to higher oil prices and lower air fares in recent months.

Icelandair said its shareholders are due to meet to vote on the deal in the near future.

WATCH: Here’s how and why airlines bump passengers


Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: joel saget, afp, getty images
Keywords: news, cnbc, companies, deal, prices, price, buys, air, presence, oil, strengthen, icelandair, international, wow, airline, share, shares


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Coinbase expands its European presence beyond the UK as Brexit looms

Coinbase has opened a new office in Dublin, the firm said Tuesday as it looks to broaden its European reach. Zeeshan Feroz, the CEO of Coinbase U.K., said the expansion to Ireland’s capital was about “looking for ways to better service our customers.” In October 2017, it had 11.7 million users, representing an increase of almost 150 percent from the previous year. A month later, the firm acquired an additional 1.6 million users, lifting the total number of users to 13.3 million. Huge volatility


Coinbase has opened a new office in Dublin, the firm said Tuesday as it looks to broaden its European reach. Zeeshan Feroz, the CEO of Coinbase U.K., said the expansion to Ireland’s capital was about “looking for ways to better service our customers.” In October 2017, it had 11.7 million users, representing an increase of almost 150 percent from the previous year. A month later, the firm acquired an additional 1.6 million users, lifting the total number of users to 13.3 million. Huge volatility
Coinbase expands its European presence beyond the UK as Brexit looms Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-16  Authors: ryan browne, steve jennings, getty images for techcrunch
Keywords: news, cnbc, companies, uk, cryptocurrency, looms, million, presence, market, office, users, european, feroz, coinbase, expands, ireland, firm, brexit, irish


Coinbase expands its European presence beyond the UK as Brexit looms

Coinbase has opened a new office in Dublin, the firm said Tuesday as it looks to broaden its European reach.

The U.S. cryptocurrency exchange operator was founded in 2012 and used to have just one office in London to serve its European Union users.

As Britain edges closer toward an exit from the EU, Coinbase has chosen Ireland to host its second European base as part of a contingency plan to continue to have access to the bloc post-Brexit.

Zeeshan Feroz, the CEO of Coinbase U.K., said the expansion to Ireland’s capital was about “looking for ways to better service our customers.”

“The EU is our most significant market outside the U.S.,” he told CNBC in a phone interview. Coinbase says the group of 28 — and soon to be 27 — countries was its fastest-growing market last year.

While it isn’t moving resources away from the U.K. to prioritize Ireland, Coinbase’s expansion echoes the sentiment among some big banks that are trying to increase their presence across Europe to offset the impact of Brexit.

“I think that played some part in the decision,” Feroz said of uncertainty surrounding Brexit. He added that Ireland was a good fit for the firm, being an English-speaking country that is home to a diverse range of talent and a growing technology sector.

Coinbase is currently hiring a number of customer support roles and a regulatory compliance position in the Irish capital, according to a job listing page on its website.

Michael D’Arcy, minister of state at the department of finance in Ireland, said he was “delighted” the firm was opening an office in Dublin. “This decision highlights the competitive offering and attractiveness of Ireland for financial services,” he said in a statement.

The London office is the company’s headquarters for Europe, as well as other international operations beyond the U.S. With a presence in Tokyo as well, the Dublin facility will be the start-up’s third office outside the U.S.

“Dublin is a talent hotspot for companies like Coinbase as they scale and internationalize critical businesses operations,” Martin Shanahan, CEO of IDA Ireland, the Irish state agency tasked with attracting overseas investment, said in a statement.

“We look forward to welcoming Coinbase into the Irish economy, and helping them access our talented pool of young professionals from the technology and financial services sectors.”

The start-up saw a surge in users amid a rally in cryptocurrency prices late last year. In October 2017, it had 11.7 million users, representing an increase of almost 150 percent from the previous year. A month later, the firm acquired an additional 1.6 million users, lifting the total number of users to 13.3 million.

Coinbase Chief Executive Brian Armstrong said in August that the company was growing by 50,000 customers every day in 2017.

Earlier this month, Recode, citing unnamed sources, said the firm was looking to raise up to $500 million from Tiger Global and existing investors, in an investment that would value it at $8 billion. Feroz declined to comment on that report.

In December, bitcoin, the world’s largest digital coin by market value, surged to a record high near $20,000. However, the prices of major virtual currencies, as well as trading volumes, have plunged following last year’s surge.

Bitcoin has fallen almost 70 percent against the dollar since its all-time high, ether is off by 85 percent and XRP — P, a cryptocurrency promoted by blockchain firm Ripple — has shed nearly 90 percent, according to industry website CoinMarketCap.

Huge volatility in the cryptocurrency market has drawn the attention of governments, bankers and serious investors, and heightened concerns around the speculative nature of the market.

While Feroz said he doesn’t comment on market speculation, he said it is a “young industry still finding its feet.”


Company: cnbc, Activity: cnbc, Date: 2018-10-16  Authors: ryan browne, steve jennings, getty images for techcrunch
Keywords: news, cnbc, companies, uk, cryptocurrency, looms, million, presence, market, office, users, european, feroz, coinbase, expands, ireland, firm, brexit, irish


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‘Unite the Right’ faces off against big counter-protest presence in DC

The National Park Service also issued permits for events organized by DC United Against Hate, New York Black Lives Matter, and other groups. On Saturday evening on UVA’s campus, police had a brief, tense confrontation with students and other activists angry over a heavy security presence. They unfurled a banner reading “Last year they came w/ torches. Last year, 22-year-old Clara Carlson faced down the group of white supremacists who marched through campus, surrounding her and a group of friends


The National Park Service also issued permits for events organized by DC United Against Hate, New York Black Lives Matter, and other groups. On Saturday evening on UVA’s campus, police had a brief, tense confrontation with students and other activists angry over a heavy security presence. They unfurled a banner reading “Last year they came w/ torches. Last year, 22-year-old Clara Carlson faced down the group of white supremacists who marched through campus, surrounding her and a group of friends
‘Unite the Right’ faces off against big counter-protest presence in DC Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-12  Authors: jonathan ernst, brian snyder
Keywords: news, cnbc, companies, presence, dc, let, campus, supremacists, right, university, big, roll, counterprotesters, counterprotest, torches, unite, security, white, faces


'Unite the Right' faces off against big counter-protest presence in DC

The National Park Service also issued permits for events organized by DC United Against Hate, New York Black Lives Matter, and other groups. Government and police officials in Washington have expressed confidence the city can manage the events without violence; the mayor and police chief have promised a massive security mobilization to keep protesters and counter-protesters apart.

On Saturday evening on UVA’s campus, police had a brief, tense confrontation with students and other activists angry over a heavy security presence. They unfurled a banner reading “Last year they came w/ torches. This year they come w/ badge” and chanted “Why are you in riot gear? We don’t see no riot here.” More than 200 marched to another part of campus, where many shouted at a line of officers.

Last year, 22-year-old Clara Carlson faced down the group of white supremacists who marched through campus, surrounding her and a group of friends. On Saturday night, she was angry at the police response to the student rally.

“The university administration just let white supremacists roll through grounds with their torches, and for us, they’re afraid of us. They are afraid of us because we are demanding change from the university,” Carlson said.

The rest of the day had been much quieter, with some residents and businesses expressing that they felt calmer with the police presence in town.

Last year, on Aug. 12, hundreds of white nationalists — including neo-Nazis, skinheads and Ku Klux Klan members — descended on Charlottesville in part to protest the city’s decision decided to remove a monument to Confederate Gen. Robert E. Lee from a park.

Violent fighting broke out between attendees and counterprotesters that day. Authorities eventually forced the crowd to disperse, but a car later barreled into a crowd of peaceful counterprotesters, killing 32-year-old Heather Heyer. A state police helicopter later crashed, killing two troopers.

Heyer’s mother, Susan Bro, told The Associated Press that she has been dreading the anniversary of her daughter’s death for months. On Sunday morning, she plans to bring flowers to the spot where her daughter was killed.

Bro likened losing a child to standing in shallow water as waves roll continually in: “You let the wave wash over, and you don’t chase it. You let it go and you’re OK until the next one comes. But today, I feel like high tide is in.”


Company: cnbc, Activity: cnbc, Date: 2018-08-12  Authors: jonathan ernst, brian snyder
Keywords: news, cnbc, companies, presence, dc, let, campus, supremacists, right, university, big, roll, counterprotesters, counterprotest, torches, unite, security, white, faces


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Moonves’ presence on call means he doesn’t agree with article, says analyst

Moonves’ presence on call means he doesn’t agree with article, says analyst3:53 PM ET Wed, 1 Aug 2018Barton Crockett of B.Riley FBR joins the ‘Closing Bell’ team to give a preview ahead of CBS earnings tomorrow.


Moonves’ presence on call means he doesn’t agree with article, says analyst3:53 PM ET Wed, 1 Aug 2018Barton Crockett of B.Riley FBR joins the ‘Closing Bell’ team to give a preview ahead of CBS earnings tomorrow.
Moonves’ presence on call means he doesn’t agree with article, says analyst Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-01
Keywords: news, cnbc, companies, doesnt, preview, article, joins, et, presence, team, tomorrow, agree, moonves, fbr, earnings, analyst, means


Moonves' presence on call means he doesn't agree with article, says analyst

Moonves’ presence on call means he doesn’t agree with article, says analyst

3:53 PM ET Wed, 1 Aug 2018

Barton Crockett of B.Riley FBR joins the ‘Closing Bell’ team to give a preview ahead of CBS earnings tomorrow.


Company: cnbc, Activity: cnbc, Date: 2018-08-01
Keywords: news, cnbc, companies, doesnt, preview, article, joins, et, presence, team, tomorrow, agree, moonves, fbr, earnings, analyst, means


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Pakistan elections: Extremist candidates are a ‘real setback’ for the country

Right-wing religious factions have fielded more than 1,500 candidates at the provincial and national level, according to Reuters. Many of those entities espouse a fundamentalist agenda laden with anti-Western rhetoric and a desire for tougher application of Islamic law. Tehreek-e-Labaik Pakistan, for example, has 566 candidates and wants greater implementation of a law that carries a potential death sentence for anyone who insults Islam. Other parties associated with terror outfits are officiall


Right-wing religious factions have fielded more than 1,500 candidates at the provincial and national level, according to Reuters. Many of those entities espouse a fundamentalist agenda laden with anti-Western rhetoric and a desire for tougher application of Islamic law. Tehreek-e-Labaik Pakistan, for example, has 566 candidates and wants greater implementation of a law that carries a potential death sentence for anyone who insults Islam. Other parties associated with terror outfits are officiall
Pakistan elections: Extremist candidates are a ‘real setback’ for the country Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-24  Authors: nyshka chandran, rizwan tabassum afp getty images
Keywords: news, cnbc, companies, religious, setback, terror, south, islamic, candidates, real, presence, extremist, parties, country, pakistans, standing, elections, pakistan


Pakistan elections: Extremist candidates are a 'real setback' for the country

Pakistanis head to the polls Wednesday in a general election characterized by a heavy presence of extremist parties — a development that threatens to strengthen religious radicalization in the South Asian nation, which has long struggled with domestic terrorism.

Right-wing religious factions have fielded more than 1,500 candidates at the provincial and national level, according to Reuters. Many of those entities espouse a fundamentalist agenda laden with anti-Western rhetoric and a desire for tougher application of Islamic law.

Tehreek-e-Labaik Pakistan, for example, has 566 candidates and wants greater implementation of a law that carries a potential death sentence for anyone who insults Islam. In May, one of its members was deemed responsible for an assassination attempt on Pakistan’s interior minister.

Other parties associated with terror outfits are officially banned in the country but their candidates are either running under different party names or as independents. The Milli Muslim League, whose leader Hafiz Saeed is the co-founder of Lashkar-e-Taiba, the terror network behind the 2008 Mumbai attack, is officially outlawed but has around 260 candidates, Reuters data show. Ahle Sunnat Wal Jamaat, believed to be a wing of Islamic State ally Lashkar-e-Jhangvi, also lacks legal standing but has more than 150 candidates.

Islamist parties — those that believe Islamic values should be applied to politics — are common in Pakistan, so their participation in this year’s election isn’t significant in itself. But their amplified presence could see ultra-conservatism grow.

“The particular worry for Pakistan’s long-term stability is the presence of candidates standing for and fear-mongering with ideas of dividing Pakistan’s social fabric, including through violence,” said Antoine Levesques, research fellow for South Asia at the International Institute for Strategic Studies.


Company: cnbc, Activity: cnbc, Date: 2018-07-24  Authors: nyshka chandran, rizwan tabassum afp getty images
Keywords: news, cnbc, companies, religious, setback, terror, south, islamic, candidates, real, presence, extremist, parties, country, pakistans, standing, elections, pakistan


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Facebook to double office presence in London

Facebook said on Monday it would double its presence in London, acquiring nearly 600,000 square feet of office space across two buildings in King’s Cross – enough for more than 6,000 workstations. It added 800 jobs in London last year. Steve Hatch, managing director for Northern Europe, said Facebook had developed many of its significant products – including its Workplace collaboration and apps for its Oculus virtual reality headsets – in London. “Today’s news reflects our commitment to the UK a


Facebook said on Monday it would double its presence in London, acquiring nearly 600,000 square feet of office space across two buildings in King’s Cross – enough for more than 6,000 workstations. It added 800 jobs in London last year. Steve Hatch, managing director for Northern Europe, said Facebook had developed many of its significant products – including its Workplace collaboration and apps for its Oculus virtual reality headsets – in London. “Today’s news reflects our commitment to the UK a
Facebook to double office presence in London Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-23  Authors: getty images
Keywords: news, cnbc, companies, presence, uk, jobs, workplace, workstationsthe, double, union, london, yearsteve, virtual, office, vote, facebook


Facebook to double office presence in London

Facebook said on Monday it would double its presence in London, acquiring nearly 600,000 square feet of office space across two buildings in King’s Cross – enough for more than 6,000 workstations.

The social network did not say how many jobs it would add in the British capital, where it expects to employ 2,300 people by the end of this year. It added 800 jobs in London last year.

Steve Hatch, managing director for Northern Europe, said Facebook had developed many of its significant products – including its Workplace collaboration and apps for its Oculus virtual reality headsets – in London.

“Today’s news reflects our commitment to the UK and our desire to grow our business and the UK economy,” he said in a statement.

The announcement represents a vote of confidence in Britain at a time of uncertainty caused by its expected exit from the European Union next spring. Failure to agree terms could trigger a ‘hard Brexit’, potentially hitting growth and jobs.


Company: cnbc, Activity: cnbc, Date: 2018-07-23  Authors: getty images
Keywords: news, cnbc, companies, presence, uk, jobs, workplace, workstationsthe, double, union, london, yearsteve, virtual, office, vote, facebook


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Walmart and Microsoft link up on cloud technology as they both battle Amazon

Retail giant Walmart signed a deal to use Microsoft’s cloud and artificial intelligence technology on Tuesday, deepening a strategic partnership between two of Amazon’s major rivals. The five-year agreement is designed to leverage the full range of Microsoft’s cloud solutions in order to make shopping quicker and easier for customers, Walmart said. “Walmart’s commitment to technology is centered around creating incredibly convenient ways for customers to shop and empowering associates to do thei


Retail giant Walmart signed a deal to use Microsoft’s cloud and artificial intelligence technology on Tuesday, deepening a strategic partnership between two of Amazon’s major rivals. The five-year agreement is designed to leverage the full range of Microsoft’s cloud solutions in order to make shopping quicker and easier for customers, Walmart said. “Walmart’s commitment to technology is centered around creating incredibly convenient ways for customers to shop and empowering associates to do thei
Walmart and Microsoft link up on cloud technology as they both battle Amazon Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-17  Authors: sam meredith, getty images
Keywords: news, cnbc, companies, battle, presence, microsoft, amazon, retail, cloud, work, walmart, technology, microsofts, amazons, partnership, link


Walmart and Microsoft link up on cloud technology as they both battle Amazon

Retail giant Walmart signed a deal to use Microsoft’s cloud and artificial intelligence technology on Tuesday, deepening a strategic partnership between two of Amazon’s major rivals.

The five-year agreement is designed to leverage the full range of Microsoft’s cloud solutions in order to make shopping quicker and easier for customers, Walmart said.

The agreement pairs Amazon’s largest retail rival with its closest challenger in cloud computing. It is also the latest sign of Walmart’s willingness to double down on its e-commerce presence, while Microsoft has reportedly been working on a technology that could eliminate cashiers and checkout lines from stores.

“Walmart’s commitment to technology is centered around creating incredibly convenient ways for customers to shop and empowering associates to do their best work,” Walmart CEO Doug McMillon said in a statement on Tuesday.

The Bentonville Arkansas-based company plans to boost its online presence and defend itself from Amazon’s rapidly growing retail ambitions.

“The world’s leading companies run on our cloud, and I’m thrilled to partner with Walmart to accelerate their digital transformation with Microsoft Azure and Microsoft 365,” Microsoft CEO Satya Nadella said Tuesday.

Through the partnership, Walmart and Microsoft engineers will work together to migrate a significant portion of Walmart.com and samsclub.com to Microsoft’s Azure, Walmart said.


Company: cnbc, Activity: cnbc, Date: 2018-07-17  Authors: sam meredith, getty images
Keywords: news, cnbc, companies, battle, presence, microsoft, amazon, retail, cloud, work, walmart, technology, microsofts, amazons, partnership, link


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Takes a year to plan for Wimbledon, champagne exec says

Takes a year to plan for Wimbledon, champagne exec says8 Hours AgoPaul Beavis, managing director at Lanson International, speaks about his company’s presence at the iconic British tennis tournament.


Takes a year to plan for Wimbledon, champagne exec says8 Hours AgoPaul Beavis, managing director at Lanson International, speaks about his company’s presence at the iconic British tennis tournament.
Takes a year to plan for Wimbledon, champagne exec says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-05
Keywords: news, cnbc, companies, speaks, tournament, plan, takes, champagne, exec, lanson, says8, presence, tennis, managing, wimbledon


Takes a year to plan for Wimbledon, champagne exec says

Takes a year to plan for Wimbledon, champagne exec says

8 Hours Ago

Paul Beavis, managing director at Lanson International, speaks about his company’s presence at the iconic British tennis tournament.


Company: cnbc, Activity: cnbc, Date: 2018-07-05
Keywords: news, cnbc, companies, speaks, tournament, plan, takes, champagne, exec, lanson, says8, presence, tennis, managing, wimbledon


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China says it will increase its military presence in Africa

For decades, China’s presence in Africa has largely focused on economic, commercial and peacekeeping activities. Now, Beijing is building on that by establishing greater military links to protect its national assets on the continent and gain greater geopolitical influence. Many experts now anticipate more Chinese bases in the years to come, with Namibia rumored as a potential location. Meanwhile in Tanzania, where the state-run conglomerate China Merchants Holdings International is hoping to inv


For decades, China’s presence in Africa has largely focused on economic, commercial and peacekeeping activities. Now, Beijing is building on that by establishing greater military links to protect its national assets on the continent and gain greater geopolitical influence. Many experts now anticipate more Chinese bases in the years to come, with Namibia rumored as a potential location. Meanwhile in Tanzania, where the state-run conglomerate China Merchants Holdings International is hoping to inv
China says it will increase its military presence in Africa Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-06-27  Authors: nyshka chandran, str, afp, getty images
Keywords: news, cnbc, companies, increase, presence, greater, state, china, beijing, strategic, countries, chinese, local, military, communist, africa


China says it will increase its military presence in Africa

For decades, China’s presence in Africa has largely focused on economic, commercial and peacekeeping activities. Now, Beijing is building on that by establishing greater military links to protect its national assets on the continent and gain greater geopolitical influence.

The People’s Liberation Army conducts regular joint training exercises across the region and, in certain countries that are home to major Chinese infrastructure projects under the Belt and Road initiative, the communist state has been especially active.

In Djibouti, where Chinese companies have constructed strategic ports and Africa’s first electric transnational railway, Beijing last year formally launched its first overseas military base, which also operates as a logistics and intelligence facility. Many experts now anticipate more Chinese bases in the years to come, with Namibia rumored as a potential location.

Meanwhile in Tanzania, where the state-run conglomerate China Merchants Holdings International is hoping to invest in the Bagamoyo mega port, China built a complex designed to train local armed forces earlier this year. And, at the first-ever China-Africa Defense and Security Forum in Beijing on Tuesday, the communist state announced it will provide African countries with “comprehensive support” on matters such as piracy and counter-terrorism. That includes providing technologies, equipment, personnel and strategic advice, local media reported.


Company: cnbc, Activity: cnbc, Date: 2018-06-27  Authors: nyshka chandran, str, afp, getty images
Keywords: news, cnbc, companies, increase, presence, greater, state, china, beijing, strategic, countries, chinese, local, military, communist, africa


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