News

  Bloomberg Amazon.com Inc and its sparring partner Future Retail Ltd. will hold talks to resolve a dispute over the sale of the latter’s assets to Reliance Industries Ltd, a move that could end a bitter litigation that delayed payments to bondholders and deepened losses for Future’s former-billionaire founder. During a Supreme Court hearing Thursday, Future’s lawyers agreed to a ...

  Bloomberg Applications for US state unemployment insurance fell by more than forecast to the lowest level since the start of the year, as Covid-19 cases decline and restrictions ease. Initial unemployment claims decreased by 18,000 to 215,000 in the week ended February 26, Labor Department data showed Thursday. The median estimate called for 225,000 applications in a Bloomberg survey ...

  Bloomberg The European Union can slash imports of Russian gas by a third within a year by increasing purchases from elsewhere, ramping up renewables and boosting energy efficiency, according to the International Energy Agency. Under a 10-point plan published Thursday, the IEA said that efforts to phase out Russian gas can still be compatible with the bloc’s climate ambitions. ...

  Bloomberg Even after a salary cut, Denise Coates’ paycheck is hard to beat. The 54-year-old founder and co-chief executive officer of Bet365 Group Ltd got about 300 million pounds ($400 million) in pay and dividends in the year to March 2021, according to a registry filing, taking her total pay from the online bookmaker’s past two financial years to ...

  Bloomberg Finland’s Fortum Oyj will stop all new investment projects and cut the number of its power plants in Russia, pulling back just as it looks to bolster energy generation at home. The utility is following global energy giants from BP Plc to Exxon Mobil Corp. in retreating from Russia after President Vladimir Putin’s invasion of Ukraine. While Fortum ...

  ABU DHABI / WAM Abu Dhabi National Insurance Company (Adnic), one of the leading regional multi-line insurance providers for corporates and individuals in the UAE, has launched a new UAE National Training programme ‘Emkanati’, in line with company’s Emiratisation strategy. As part of “Emkanati”, national employees have been selected to undergo a training in Adnic’s business underwriting divisions. The ...

  ABU DHABI / WAM Abu Dhabi National Energy Company (Taqa) on Wednesday announced that it will recommend to its shareholders to approve a special dividend payment of AED2.2 billion (2.00 fils per share) in addition to the final payment of AED1.2 billion (1.10 fils per share). This comes on top of the AED1.9 billion (1.65 fils per share) already ...

  DUBAI / WAM Shuaa Capital, asset management and investment banking platform in the region, on Wednesday announced the successful pricing of the initial public offering (IPO) of 10,000,000 units of SHUAA Partners Acquisition Corp I at $10.00 per unit. The $100 million Special Purpose Acquisition Company (SPAC) will be listed on Nasdaq Global Market (Nasdaq) and will start trading ...

  ABU DHABI / WAM Mubadala Health, the integrated healthcare network of Mubadala Investment Company, has announced a strategic collaboration with BioIntelliSense, Inc, a continuous health monitoring and clinical intelligence company, to incorporate BioIntelliSense’s innovative remote care technologies with Mubadala Health’s continuous care model to drive clinical workflow efficiencies, unlock data-driven clinical insights and deliver a personalised care experience. Hasan ...

DUBAI / WAM Emirates has opened the doors of a new retail sales office in Fujairah, further expanding its presence in the Northern Region and offering more convenience to customers wishing to book their next trip. Located in Al Ghilaila Building, overlooking the Fujairah corniche, the new office was inaugurated by senior Emirates and dnata commercial and sales executives, in ...