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Bloomberg For years, companies like Oracle and International Business Machines (IBM) invested heavily to build new markets in China for their industry-leading databases. Now, boosted in part by escalating US tensions, one Chinese upstart is stepping in, winning over tech giants, startups and financial institutions to its enterprise software. Beijing-based PingCAP already counts more than 300 Chinese customers. Many, including ...

Bloomberg UK Trade Secretary Liam Fox dismissed fears that foreign companies will slow down their investment in domestic technology businesses, despite the ongoing uncertainty around the country’s exit from Europe. “If you take the legal system, skills of the workforce, the regulatory and tax systems, linguistic skills, access to tech, and IP law, not one of those is affected to ...

Bloomberg AbbVie Inc. agreed to buy rival drugmaker Allergan Plc for $63 billion in a deal combining the makers of arthritis drug Humira and wrinkle treatment Botox in a bid to kindle growth. The takeover, at a value of $188.24 a share, is a 45 percent premium to Allergan’s closing price. Allergan rose 33 percent to $172 in pre-market trading ...

Bloomberg Glencore Plc is cutting out many of its intermediaries — the agents and dealmakers once essential to cracking the toughest markets — amid growing scrutiny of its operations around the world. Under pressure from its compliance division, Glencore is dismantling much of its glo-bal network of trading agents, according to people familiar with the situation. To continue operating, the ...

Bloomberg Iran said the path to a diplomatic solution with the US had closed after the Trump administration imposed sanctions against its supreme leader and other top officials, raising tensions days after the downing of an American drone brought the Middle East to the brink of war. President Donald Trump unveiled sanctions on Ayatollah Ali Khamenei and eight senior military ...

DUBAI / WAM The Telecommunications Regulatory Authority (TRA), on Monday announced the launch of the ‘UAE National Cybersecurity Strategy’ during a press conference held at TRA offices in Abu Dhabi and Dubai. The new strategy aims to create safe and resilient cyber infrastructure in the UAE that enables citizens to fulfil their aspirations and empowers businesses to thrive. Hamad Obaid ...

Abu Dhabi / WAM Nawah Energy Company (Nawah), the subsidiary created by Joint Venture partners Emirates Nuclear Energy Corporation (Enec), and Korea Electric Power Corporation (Kepco), to operate, maintain the Barakah Nuclear Energy Plant, on Monday signed a Long Term Maintenance Services Agreement (LTMSA), with Korea Hydro and Nuclear Power (KHNP), supported by Kepco Plant Service and Engineering (KPS). Under the scope of ...

Abu Dhabi / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, among the early adopters of social media in the region, completes a decade of his presence on Twitter this June. To commemorate his decade-long presence on Twitter, a book featuring a collection of tweets by Sheikh Mohammed ...

ABU DHABI / WAM Sultan bin Saeed Al Mansouri, Minister of Economy (MoE), issued a ministerial decision approving the status of Economic Concentration in the UAE market for the upcoming acquisition of Careem – one of the leading start-ups established in the UAE – by global company Uber. Under the Competition Law No. 04 of 2012 and the Executive Regulation ...

Bloomberg President Donald Trump is threatening Iran with additional sanctions on Monday, but there’s not much left for the US to target because most of the Islamic Republic’s economy has been crippled by earlier penalties. The US is already sanctioning significant sectors including oil, banks and steel, leaving smaller targets including certain exports and government officials. Trump could hit Iran’s ...