{"id":657604,"date":"2024-12-23T00:00:00","date_gmt":"2024-12-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/23\/honda-and-nissan-begin-talks-on-merger-as-auto-sector-competition-heats-up\/"},"modified":"2024-12-23T00:00:00","modified_gmt":"2024-12-23T00:00:00","slug":"honda-and-nissan-begin-talks-on-merger-as-auto-sector-competition-heats-up","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/23\/honda-and-nissan-begin-talks-on-merger-as-auto-sector-competition-heats-up\/","title":{"rendered":"Honda and Nissan begin talks on merger as auto sector competition heats up"},"content":{"rendered":"

Good afternoon folks, and happy Monday.<\/strong> The news cycle may be winding down for this calendar year, but our coverage of the latest in tech certainly is not \u2014 read on for a breakdown of Google\u2019s new tracking tools, Amazon\u2019s new discount goods platform, and another season of our favorite fictional gaming series.<\/p>\n

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THE BIG STORY TODAY<\/p>\n

Banking consortium grants El Zahy Group EGP 4.2 bn in financing:<\/strong> A consortium composed of the National Bank of Egypt (NBE), Banque Misr, and QNB Al Ahli will jointly grant local firm El Zahy Group<\/a> some EGP 4.2 bn in financing for a number of infrastructure and construction projects, according to a press release (pdf)<\/a>. The funding will go toward projects in the facility design, land reclamation, infrastructure, agricultural land, and irrigation and drainage line construction areas.<\/p>\n

AND<\/strong>- WiFi calls could go live before the year wraps up: <\/strong>WiFi calling services \u2014 which enable mobile phone users to make high-quality voice calls over internet connections, rather than via mobile networks \u2014 could launch within days, as the National Telecom Regulatory Authority finalizes approvals, sources told Al Borsa<\/a>. The service aims to fix coverage gaps in dense neighborhoods and high rises and is expected to work on 4G devices with support from mobile carriers. <\/p>\n

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THE BIG STORY ABROAD<\/p>\n

Honda and Nissan could be on the verge of a historic merger:<\/strong> Japanese auto titans Nissan and Honda have begun talks over a possible merger, which if implemented would create the world\u2019s third largest automaker by sales volume, the companies said in a joint press release<\/a> this morning. Mitsubishi, another Japanese carmaker that has been in alliance with Nissan since 2016, is also mulling joining the merger, the Financial Times<\/a> reports. <\/p>\n

A highly competitive market is spurring sector consolidation: <\/strong>The merger talks come as the companies face heightened competition<\/a> from China- and US-based EV automakers, and as Nissan faces financial difficulties that have seen other manufacturers \u2014 chiefly Taiwan\u2019s Foxconn \u2014 eye a takeover of the embattled car-maker. Integration could provide a salve for Nissan\u2019s financial difficulties, while also offering both companies an opportunity to capitalize on economies of scale amid what Honda chief executive Toshihiro Mibe called a \u201cdrastically changing business environment.\u201d If implemented, the merger will be the biggest reshaping of the auto market since Fiat-Chrysler and PSA merged<\/a> to create Stellantis in 2021.<\/p>\n

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