Blog List Layout

Bloomberg Chinese smartphone maker Xiaomi Corp. is opening a store in Paris and planning for more shops in France, Spain and Italy, testing the appetite of consumers in developed markets as its executives consider a US xpansion. “Every morning I think about the US market and when we’ll launch there,” Xiaomi Senior Vice President Wang Xiang, who heads global operations, ...

Bloomberg Hewlett Packard Enterprise Co. gave a forecast for the current quarter that topped some Wall Street estimates, signalling that it’s benefiting from recent cost cuts and a push into software and computer services aimed at lessening its dependence on hardware. Profit excluding certain costs will be 35 cents to 39 cents a share in the fiscal third quarter, the ...

Bloomberg Facebook Inc. founder Mark Zuckerberg left European Union lawmakers fuming over unanswered questions at the end of a hearing that began with a mea culpa for the company’s recent privacy woes. At a meeting at the EU Parliament, Zuckerberg repeated what he’s been telling every audience recently: that his company didn’t take a broad enough view of its responsibility ...

Bloomberg Thyssenkrupp AG’s chief Heinrich Hiesinger is facing the fight of his career as a pair of activist investors take aim at the German industrial giant. Elliott Management Corp. is building a stake in the company and wants to oust the 57-year-old chief executive for failing to guide the company through a turnaround, according to people familiar with the matter. ...

Bloomberg US President Donald Trump expressed pessimism about whether the summit with North Korea’s leader would take place, even as American officials pressed ahead with plans for a historic meeting on June 12 in Singapore. South Korean President Moon Jae-in flew to Washington for the day amid growing uncertainty about North Korean leader Kim Jong-un’s goals for the summit after ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has said the UAE, in cooperation with other Arab and Muslim countries as well as religious scholars, is forging ahead with its efforts to promote the quintessential Islamic values and principles of peaceful co-existence, ...

SHARJAH / WAM Sharjah Healthcare City Authority (SHCC), in a press briefing on Tuesday announced that the Abu Dhabi based Ahalia Group has been awarded the permission to set up a $100 million, 120 bed hospital. This multi-specialty hospital spread across 50,000 square meters is the very first hospital to set its footprint within the mega healthcare city. Ahalia Group ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc), on Tuesday announced that it is receiving considerable interest from potential partners, as it explores a range of new growth options and initiatives to accelerate the delivery of its recently announced downstream strategy. The new downstream plans were outlined May 13 at the Adnoc Downstream Investment Forum in Abu ...

Dubai / Emirates Business The Dubai Chamber of Commerce and Industry led a study mission to Russia and Belarus which explored business potential within the countries’ IT markets, as well as prospects for new partnerships and joint ventures in several innovation-focused sectors. The study mission included visits to Moscow and Minsk where delegates held high-level meetings with officials and representatives ...

Bloomberg China will cut the import duty on passenger cars to 15 percent, further opening up a market that’s been a chief target of the US in its trade fight with the world’s second-largest economy. The Finance Ministry said the levy will be lowered effective July 1 from the current 25 percent that has been in place for more than ...