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Ajman / WAM His Highness Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Ajman Executive Council, on Monday launched the “Future Build Exhibition.” The exhibition, which was organised by the chamber, is witnessing the participation of 52 major local and international companies in the building, construction and transportation sectors, who are showcasing their latest ...

DUBAI / WAM The Dubai Financial Services Authority (DFSA), on Monday hosted a Financial Crime Conference as part of its efforts to strengthen awareness among the financial services sector of the importance of fighting financial crime. The conference highlighted the measures the DFSA is taking to mitigate money laundering and terrorism financing risks. The event shared results of the UAE’s ...

Bloomberg Malaysian billionaire T. Ananda Krishnan’s Bumi Armada Bhd is nearing an agreement for a loan of around $500 million, people with knowledge of the matter said, in a deal that will give the embattled energy firm more time to restructure. Banks are finalising details of a five-year credit facility, according to the people, who asked not to be identified ...

Bloomberg Citigroup Inc moved a team of sales traders in Hong Kong to work on its equities desk to support clients after eight staff were pushed out in the wake of an internal investigation. Among those moved were Ryan Clendenny, Will Faulkner, Annie Wong, Anthony Levenston and Jensen Feng, according to an internal email sent by Richard Heyes, Asia-Pacific head ...

Bloomberg A group of private equity firms and pension funds agreed to buy Inmarsat Plc for $3.4 billion in a bet on the UK-based satellite operator’s growing inflight broadband business. Inmarsat shares rose more than 8 percent. Talks began in late January as the London-based company faces growing competition from traditional rivals such as ViaSat Inc. and new challengers including ...

Bloomberg Confidence among German companies unexpectedly improved in March, providing a glimmer of hope for the European economy. Ifo’s closely-watched index rose to 99.6, beating forecasts for a reading of 98.5, and a gauge of executives’ expectations also rose. The improvement helps to dispel some of the gloom after a survey showed German manufacturing in its deepest slump in more ...

Bloomberg AT&T Inc. resolved its contract dispute with Viacom Inc., staving off a blackout that would have kept its millions of pay-TV customers from seeing cable channels such as Nickelodeon and MTV. The deal reached “brings AT&T customers more choice and improved value for Viacom content,” according to a joint statement that provided few other details. The companies’ contract, which ...

Bloomberg Russia urged US President Donald Trump to seize the opportunity to reset relations after Special Counsel Robert Mueller’s report found no evidence of collusion between his campaign and the Kremlin. “There’s a chance to renew much in our relations, but the question is whether Trump will take the risk,” Konstantin Kosachyov, chairman of the international relations committee in the ...

DUBAI / WAM In its eighth year, the Emirates Green Building Council (EmiratesGBC), Congress will host experts and stakeholders from the building and construction industry to discuss the role of a circular economy in promoting sustainable development. Building on last year’s landmark Congress on Net Zero Buildings and Cities, the discussion will focus on how a shift to a circular ...

Abu Dhabi / WAM A new platform to support high tech startups has launched in Abu Dhabi. The AED520 million ($141.5 million) ‘Hub71’ launched on Sunday by His Highness Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council, and Chairman of the Executive Committee. His Highness also announced a new AED535 million fund, to ...