Bloomberg Britain’s dominant services sector expanded the least in four months in June, adding to evidence that the economy is weakening as Brexit negotiations start in earnest. IHS Markit’s Purchasing Managers Index fell to 53.4 from 53.8 in May, IHS Markit said in London on Wednesday. Economists in a Bloomberg News survey had predicted a reading of 53.5, above the …
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Bloomberg Ericsson AB Chairman Leif Johansson agreed to step down next year after seven years in the job, completing an overhaul of top management at the embattled Swedish network company. The time is right for Johansson to leave since Chief Executive Officer Borje Ekholm took over in January, the chairman said in a statement on Wednesday. Activist investor Cevian Capital …
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Bloomberg Worldpay Group Plc, UK payment-processing firm that listed in London 2 years ago, said it has received preliminary takeover approaches from Vantiv Inc. and JPMorgan Chase & Co. Worldpay shares surged as much as 26 percent and were up 21.6 percent at 12:10 p.m. in London to 389.4 pence, giving the former payment-processing division of Royal Bank of Scotland …
Read More »ABU DHABI / WAM Senaat, one of the largest industrial investment holding companies in the UAE, announced its group financial results for the fiscal year ended 31st December, 2016. The group’s operating companies delivered a solid performance in 2016, reflecting the resilience of its business model. Revenues of AED 13.4 billion (2015: AED 14.0 billion) were marginally lower compared to …
Read More »Dubai / Emirates Business Following May’s weakest improvement in six months, the upward growth trajectory of the non-oil private sector gained steam in June. The latest improvement was supported by sharper rises in both new orders and output. The ongoing upturns in output and new order book volumes encouraged companies to engage in input buying, leading to further increases in …
Read More »Dubai / WAM Samsung Pay facility will now be even more accessible when shopping for groceries, as Samsung Pay and Visa have partnered to offer UAE shoppers a simple, convenient and secure digital payment service for a limited period when they shop at Lulu and Union Coop Hypermarkets. Branded checkout counters are now in the hypermarket stores, exclusively for Visa …
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Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said that Dubai’s major real estate projects aim to enhance the emirate’s development across sectors, and enhance its readiness for the future as part of the comprehensive growth strategy of the UAE under the leadership of UAE …
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Dubai / WAM The National Media Council, the government entity responsible for building and operating the UAE Pavilion at Expo 2020 Dubai, announced that Arabtec Construction, a wholly owned subsidiary of Arabtec Holding, has been awarded the main contract to build the national pavilion. Arabtec Construction squared off against three local and international companies in the final round with nine …
Read More »Dubai / WAM The Dubai Diamond Exchange (DDE), a DMCC (Dubai Multi Commodities Centre) platform, today announced the third edition of its biennial two-day Dubai Diamond Conference 2017, under the theme ‘Destination Next – Shaping the future of an interconnected marketplace’. Ahmed Bin Sulayem, Executive Chairman, DMCC, said, “Dubai has evolved rapidly as one of the world’s leading trading centres …
Read More »Abu Dhabi / WAM The Emirates Red Crescent (ERC), have announced that it is to build nine “pilot” villages in northern Mali to support thousands of displaced people in the region. The villages are to be built at a cost of over AED2.2 million and will shelter around 38,625 people. Each village will include a school, a dispensary, an artesian …
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