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Dubai / Emirates Business ENOC Group has secured a three-year unsecured general corporate purposes Revolving Credit Facility (RCF) of $500 million from seven leading international and regional banks to support its growth over the next few years. His Excellency Saif Humaid Al Falasi, Group CEO of ENOC, said: “Over the next five years, the Group will focus on expanding capacities ...

Bloomberg Apple Inc. soared to a record after giving a revenue forecast that highlighted resilient demand for the iPhone ahead of the launch of its new models and the growing significance of the company’s supporting businesses. New iPhones typically go on sale in mid- to late September, which produces a few weeks of revenue that are included in the company’s ...

Bloomberg Volkswagen AG, Daimler AG and BMW AG agreed to upgrade more than 5 million diesel cars in Germany in a bid to salvage their beleaguered diesel technology and draw a line under an emissions scandal that shows no signs of abating after nearly two years. The deal, hashed out at an emergency summit in Berlin on Wednesday, also includes ...

Bloomberg Lee Jae-yong, vice chairman of Samsung Electronics Co., rejected allegations that he paid bribes to a friend of South Korea’s former president to secure support for a key merger. Testifying for the first time in his graft trial, the 49-year-old said a 2014 meeting with then-President Park Geun-hye lasted less than five minutes while a pow-wow the next year ...

Bloomberg Daiichi Sankyo Inc.’s settlement of thousands of lawsuits blaming the company’s blood-pressure drugs for causing intestinal damage brings to $339 million the amount the drugmaker has paid for its handling of the medicines. Daiichi officials agreed on Monday to pay $300 million to resolve patient suits over its Benicar, Benicar HCT, Azor and Tribenzor blood-pressure treatments. The accord comes ...

Bloomberg Thyssenkrupp AG is considering a radical breakup plan as a possible alternative to the proposed combination of its European steel operations with India’s Tata Steel Europe Ltd., according to people familiar with the matter. Under the alternative scenario, Thyssenkrupp would retain its European steel operations and hive off most or all of the other activities, said the people, who ...

Bloomberg US Vice President Mike Pence told the volatile western Balkans region that its future lies in the West, saying NATO’s door is open for new members. Pence is wrapping up a tour of eastern Europe by visiting Montenegro, a nation of 600,000 that only joined the North Atlantic Treaty Organization in June. At a regional summit on Wednesday, he’s ...

NEW DELHI / WAM Relations between the UAE and India, which received a fillip when His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, visited New Delhi as chief guest for Indian Republic Day in January, are set to scale greater heights. Intense preparations are under way ...

AJMAN / WAM HH Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Executive Council, has viewed the most important current, and future, infrastructure projects in Ajman that seek to promote local development under the framework of the emirate’s overall renaissance, to become a modern and advanced international city. This took place during his meeting ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (ADNOC) hosted the latest in its series of Youth Circles, in Ruwais, to discuss how young Emiratis can thrive professionally, while working at remote oil and gas sites, and develop the leadership skills that will allow them to contribute to ADNOC’s future growth. Held in partnership with the Emirates Youth ...