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London / Reuters GlaxoSmithKline is divesting its rare disease gene therapy drugs to private biotech company Orchard Therapeutics as Chief Executive Emma Walmsley makes good on her promise to prune the drugmaker’s pharmaceuticals portfolio. Financially, the transaction will not move the dial for Britain’s biggest drugmaker, but it offers a sign that Walmsley is making progress in reshaping the company ...

Dubai / Emirates Business The Dubai Airport Freezone Authority (DAFZA) is taking part in the Alimentaria 2018 Exhibition, the international business event geared towards professionals in the food, drinks and gastronomy industry, being held from April 16-19 at the Gran Via Venue – Barcelona. DAFZA will be showcasing its wide range of services and offerings in the Halal sector, and ...

Dubai / WAM Investors’ trust in the UAE business environment reflects the country’s resilient and diversified economy, said His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, affirming that the UAE boasts a unique model of economic development that has positioned the country as a safe global haven for ...

DUBAI / WAM DP World continues to boost the capabilities of Dubai’s cruise tourism sector, setting the city as a premier international cruise destination. The Dubai Cruise Terminal at Port Rashid, operated by DP World, welcomed 625,000-holidaymakers in 2016-2017 cruise tourism season, doubling the 320,000 cruise visitors that arrived in Dubai in the 2013-2014 season. Key to this growth is ...

DAMMAM / WAM The UAE Armed Forces are participating in the final maneuvers of the region’s largest scale military drill ‘Joint Gulf Shield I’ with the participation of 24 friendly Gulf, Arab and Muslim countries. The drills will also be witnessed by Arab and Muslims leaders and heads of state on Monday in the Saudi Eastern Province. “The drills reinforce ...

Bloomberg The US, UK and France hit targets in Syria in retaliation for an apparent chemical weapons attack outside Damascus by Bashar al-Assad’s regime. The US allies sought to shore up international support on Saturday after overnight strikes. President Donald Trump said that missile strikes focussed on chemical weapons sites, and the Pentagon said a research center and weapons storage ...

Bloomberg Fortis Healthcare Ltd. said it has received a joint investment proposal from two Indian business families, intensifying a race to gain control of the country’s second-largest private hospital chain. Hero Enterprise Investment Office and the Burman Family Office have made a binding offer to invest a total of 12.5 billion rupees ($192 million) through a preferential share allotment at ...

Bloomberg Billionaire Mukesh Ambani’s plan to roll out broadband internet services to Indian households this year under Reliance Jio Infocomm Ltd. has the potential to alter the segment’s competitive landscape, credit rating company S&P Global Ratings says. The new service may add $5 billion to parent company Reliance Industries’ valuation, according to CLSA India. The brokerage firm anticipates a $611 ...

London / Reuters European Union regulators urged banks, investors and customers to take “timely action” to avoid disruption to cross-border derivatives and insurance contracts caused by Brexit. Britain leaves the EU in March 2019 and a “standstill” transition deal until the end of 2020 agreed last month won’t be formally ratified until October or later. “Contingency planning should consider timely ...

London / Reuters Avast, the world’s largest consumer antivirus supplier by customers, said it will apply to list its shares on the London Stock Exchange in what could be a blockbuster float expected to value the company at around $4 billion. The listing, which is anticipated in early May, will see a free float of at least 25 percent of ...