Blog List Layout

Bloomberg General Motors Co. has offered a $2.8 billion new investment plan for its South Korean business after threatening to exit the country amid mounting losses, a lawmaker from the nation’s ruling party said. The investment, being proposed for the next 10 years in South Korea, is needed to produce new models, for research and development, to renovate facilities and ...

Bloomberg In a sign of the times, the organisation that speaks for and champions India’s $167 billion IT services industry will soon get its first female head. Intel Corp. veteran Debjani Ghosh takes over as president of the National Association of Software and Services Companies (NASSCOM) in April—three decades after its formation. After a two-decade career at the US chipmaker, ...

Bloomberg Qualcomm Inc. raised its offer for NXP Semiconductors NV and cut a deal with investors who had been threatening to hold up the transaction— prompting a sharp response from its own hostile suitor Broadcom Ltd. Qualcomm’s sweetened offer of $127.50 a share—16 percent more than the previous price—was enough to secure support from holders, including activist Elliott Management Corp., ...

Bloomberg UK pay is picking up after employment among citizens of the eastern countries that joined the European Union more than a decade ago fell for the first time since 2009. Average weekly earnings excluding bonuses rose 2.5 percent in the fourth quarter from a year earlier, the most since December 2016, the Office for National Statistics said. The overall ...

Bloomberg UK PM Theresa May is asking the European Union for flexibility on the length of the Brexit transition period with just over a year before the country leaves the bloc. The UK has said it wants an implementation period to last around two years, while the European Union has stipulated an end date of December 31, 2020. But the ...

Bloomberg Pro-government forces pounded the rebel-held district of eastern Ghouta outside the Syrian capital Damascus, in a surge of violence that a war monitor said had killed at least 250 people since Sunday night. The Britain-based Syrian Observatory for Human Rights said it was the highest 48-hour death toll in the Syria conflict since a 2013 chemical attack on eastern ...

Sharjah / WAM Sharjah Oasis has announced the completion of Phase 1 construction activities at Sharjah Waterfront City at a value of AED3 billion. The announcement comes as the organisation hands over two power transmission and distribution plants, built with a cost of AED250 million and with its own resources to ensure uninterrupted supply of up to 700 megawatt (MW) ...

Abu Dhabi / WAM Red-light cameras caught 13,000 violations in the emirate of Abu Dhabi during 2017, according to a senior police official. Brigadier Ahmed Al Shehhi, Deputy Director of the Traffic and Patrols Department at the Abu Dhabi Police, said that running a red light was the main cause for six percent of the traffic incidents in Abu Dhabi ...

Abu Dhabi / Emirates Business Abu Dhabi Ship Building PJSC (ADSB) has released its financial results for the financial year ended December 31, 2017. The report was accompanied by a statement from the Chief Executive Officer, Dr. Khaled Al Mazrouei, who provided highlights from the successful business year. Overall, 2017 was another positive year for ADSB, as the company surpassed ...

DUBAI / Emirates Business For the first time in Rafic Al Hariri International Airport’s history, Emirates will operate a special one-off A380 service to Beirut on March 29. The airline’s flagship double-decker will become the first-ever scheduled A380 service to Beirut, and Emirates is working with the airport to test the operations and necessary infrastructure to accommodate an A380 service. ...