News

Bloomberg Dell Technologies Inc, the computer company founded by Michael Dell, is considering buying the remaining outstanding shares in cybersecurity services operator Secureworks Corp, according to people with knowledge of the matter. The Round Rock, Texas-based company is exploring making an offer for the remaining 13.8% of shares it doesn’t own of Secureworks and fully consolidating the business, said the ...

Bloomberg Tesla Inc has lined up more than 10 billion yuan ($1.4 billion) in financing from local banks for its Shanghai factory as it prepares to begin deliveries of China-made Model 3 sedans in the country, people familiar with the matter said. An announcement will probably be made as soon as this week, one of the people said, asking not ...

Bloomberg China’s ByteDance Inc created one of the country’s rare global hits with the addictive video app TikTok Now the US government is threatening that success as officials in Washington warn the service presents a security threat. The Beijing-based company, led by Chief Executive Officer Yiming Zhang, is weighing a range of options to address those concerns, according to people ...

Abu Dhabi / WAM The UAE cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, approved the UAE strategy of advanced industries, mainly those that are in line with fourth industrial revolution and its applications, with the aim of promoting industrialisation and fourth industrial revolutions applications ...

Bloomberg Saudi Arabia and Kuwait agreed to resume oil production in a shared border region more than four years after halting output. Their agreement allows for “the resumption of oil production from the joint fields,” the Saudi energy ministry said on Twitter. The oil fields in the so-called neutral zone can produce as much as 500,000 barrels a day — ...

Bloomberg Emirates Airline President Tim Clark plans to retire in June after 16 years at the helm of the Dubai-based carrier, the world’s largest by international traffic. The 70-year-old will stay on in an advisory role even after stepping down, Chairman Sheikh Ahmed bin Saeed Al Maktoum said in an internal memo seen by Bloomberg. Clark joined Emirates’ founding team ...

DUBAI / WAM Emirates Central Cooling Systems Corporation (Empower), awarded contracts valued at AED1.130 billion to various companies in 2019, as part of the development of district cooling infrastructure in Dubai. The contracts included engineering consultancy; plant and other constructions, design and operation of cooling plants; expansion of district cooling pipe network; development of new networks to serve the latest ...

Bloomberg India’s government should avoid a fiscal stimulus to spur the economy, and focus instead on cutting public debt so that financial resources can be freed up for investment, the International Monetary Fund (IMF) said. While the national government has a budget deficit target of 3.3% of gross domestic product (GDP) in the year through March, a better reflection of ...

Abu Dhabi / WAM Etihad Airways has announced that it will operate its seasonal routes from Abu Dhabi to Alexandria, Egypt, and Salalah, Oman, between June 25 to September 15, 2020. Due to the success of the routes in 2019, the period of operation has been extended by three weeks and a new fifth weekly service introduced on both routes ...

Sharjah / WAM Dana Gas received a one-off $42 million (AED154 mm) dividend payment from Pearl Petroleum Company in the Kurdistan Region of Iraq (KRI), the company said in a press release issued on Tuesday. The payment has been distributed as a dividend by Pearl Petroleum (35% ownership by Dana Gas). The payment follows the release of an additional $120 ...