News

Bloomberg American pharmaceutical distributor McKesson Corp. is exploring a sale of its European business, according to people familiar with the matter, in a move that would reverse its $8.3 billion purchase of Germany’s Celesio AG in 2014. Phoenix Group, Germany’s largest pharmaceutical wholesaler, which is owned by the billionaire Merckle family, is in talks to acquire the continental European business. ...

Bloomberg Almost half of London companies whose staff can work from home expect them to do so up to five days a week after the pandemic finishes, and smaller businesses are more likely than larger ones to move ahead with remote working. That’s according to a poll of 520 business leaders by the London Chamber of Commerce and Industry, which ...

Bloomberg GlaxoSmithKline Plc said it will carve out its consumer unit via a spinoff and cut its dividend by about 30% as Chief Executive Officer Emma Walmsley seeks to revive the pharma giant’s lagging drug business. The UK company will list the unit in mid-2022 on the London Stock Exchange, Glaxo said in a statement Wednesday, before a key investor ...

Bloomberg The euro area’s private-sector economy is growing at its fastest pace in 15 years as coronavirus restrictions are loosened across the region. Surveys of purchasing managers by IHS Markit showed businesses struggling to keep up with demand in June as slowing infection rates allowed services including restaurants to reopen after months of strict lockdowns. Confidence in the economic outlook ...

DUBAI / WAM The UAE attaches great importance to protecting the environment in its development policy, an approach it has adopted since 2012 through the ‘UAE Green Growth Strategy’, to transform its economy into a green economy by utilising modern technologies, knowledge, and innovation. The green and digital economy will become the starting point for recovery after the Covid-19 pandemic, ...

ABU DHABI / WAM Globalfoundries (GF), the global leader in feature-rich semiconductor manufacturing, on Tuesday announced it is expanding its global manufacturing footprint with the construction of a new fab on its Singapore campus. In partnership with the Singapore Economic Development Board and with co-investments from committed customers, GF’s more than $4B (approximately AED 15bn) investment will play an integral ...

Abu Dhabi / WAM Abu Dhabi National Exhibitions Company (Adnec) has launched “Tourism 365” to create experiential travel opportunities for tourists coming to Abu Dhabi, and enhance the emirate’s regional and global positioning in the wider tourism sector. The launch of the company is in line with Adnec’s new broader role to support the growth of Abu Dhabi as a ...

ABU DHABI / WAM Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence and Commissioner-General of Expo 2020 Dubai, received on Tuesday at his palace Ferdinand Nagy, Commissioner-General of Romania’s Pavilion at Expo 2020 Dubai, who was accompanied by Nicoleta Teodorovici, Romania’s Consul-General in Dubai. The sides discussed global developments related to Covid-19, and the efforts of their ...

Bloomberg Oil retreated after hitting $75 a barrel in London for the first time in more than two years, as Russia and other Opec+ nations were said to consider increasing production. Brent crude edged above $75 in Asian trading hours as price indicators and inventory data showed that demand still outstrips supply. The gains faltered as Russia — which jointly ...

DUBAI / WAM The Government of Dubai, acting through the Department of Finance (DoF), announced that the $500 million Fixed Rate Note issued on June 22, 2011 under its Euro Medium Term Note Programme, reached maturity on June 22 2021. Upon maturity, all the notes have been redeemed in full by making the required payment through the paying agent to ...