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Bloomberg Uber Technologies Inc and Lyft Inc are solidifying plans for initial public offerings next year, when a wide pool of investors will decide what the money-losing ride-hailing businesses are actually worth. Wall Street’s top banks, vying for a coveted underwriting spot on Uber’s IPO, suggest the San Francisco company could produce one of the most valuable offerings ever. In ...

Bloomberg Europe’s car lobby said a no-deal Brexit would threaten the very business model of companies operating in the UK and on the continent, urging negotiators to do everything in their power to avert a worst-case scenario on the eve of a summit in Brussels. Carmakers and suppliers’ steps to prepare for the event of a disorderly withdrawal from the ...

Bloomberg Netflix Inc is growing faster than even its most bullish fans on Wall Street predicted, soothing doubts about its global prospects and sending its already-stratospheric stock higher. After a stumble with its previous results, the world’s largest paid online TV network added far more subscribers than analysts expected in the third quarter. Netflix also issued an upbeat outlook for ...

DUBAI / WAM The Dubai Airport Freezone Authority (Dafza) showcased the development of new investments and initiatives delivered at the Gitex Technology Week, which is currently being held at the Dubai World Trade Center (DWTC). The free zone authority showcased the advantages of the new services and the investment benefits they offer to regional and international companies. During the event, ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Tuesday launched ‘Madrasa’, the largest free e-learning platform in the Arab world, a revolutionary new project under the umbrella of the Mohammed Bin Rashid Al Maktoum Global Initiatives (MBRGI). The platform offers 5,000 Arabic educational videos on ...

Abu Dhabi / Emirates Business Etihad Airways and Abu Dhabi Waste Management Center (Tadweer) are set to collaborate on a landmark research project to explore how municipal waste can be converted into jet fuel. Representing a major development in the adoption of sustainable fuel, one of the aims of the project would be to use the final jet fuel on ...

RAS AL KHAIMAH / WAM Customers in Sharjah, Ras Al Khaimah, Fujairah, Umm Al Qaiwain and Ajman will be able to choose to self serve free of charge or use the premium service for AED10 when they refuel their cars. Adnoc Distribution also said it will continue to offer four fuel products across its network, including the UAE’s lowest priced ...

Bloomberg China’s local governments may have accumulated 40 trillion yuan ($5.8 trillion) of off-balance sheet debt, or even more, suggesting further defaults are in store, according to S&P Global Ratings. “The potential amount of debt is an iceberg with titanic credit risks,” S&P credit analysts led by Gloria Lu wrote in a report on Tuesday. Much of the build-up relates ...

Bloomberg A low inflation spell in an election year should be good news for any government, right? Wrong. For Prime Minister Narendra Modi, the subdued inflation numbers, due largely to low food prices, may present a budget problem. His government may have to shell out more to compensate farmers for low market prices of some crops under a plan announced ...

Bloomberg Volkswagen AG’s Audi unit agreed to pay an 800 million-euro ($926 million) fine for its role in the diesel-cheating scandal that has disrupted the car industry for more than three years and landed Audi’s longtime leader in jail. The penalty consists of the maximum fine of 5 million euros and the seizure of 795 million euros in profits the ...