News

Dubai / WAM The Ministry of Health and Prevention (MoHAP), has signed a Memorandum of Understanding (MoU) with US company AbbVie Biopharmaceuticals to enhance innovation, training, healthcare, and awareness about autoimmune diseases. Under this MoU, both sides have agreed to foster cooperation in the field of therapeutic innovations for autoimmune diseases, provide training programmes for MoHAP’s medical cadres as per ...

SHARJAH / WAM The Sharjah Electricity and Water Authority (Sewa), recycled more than 360,000 litres of transformer oils at 33 kV stations and reused the oil after treatment according to the best international specifications during 2019. The recycling process saved more than AED20 million after one of the ideas presented by employees was applied as part of the “I am ...

Abu Dhabi / WAM Abu Dhabi General Services Company (Musanada) and Al Dhafra Region Municipality have commenced construction and design works of the internal roads and infrastructure rehabilitation project across Madinat Zayed, Baynunah, Sector 18 and Zone MZW in Al Dhafra region at an estimated cost of AED144.8 million. Both parties stated that the project will involve the construction of ...

Bloomberg Suzlon Energy Ltd will offer to restructure debt at a steeper discount than Indian banks have been willing to consider so far, said people familiar with the matter, pushing the wind turbine maker closer towards bankruptcy. The Pune-based company proposes to swap its 113 billion rupees ($1.6 billion) of outstanding debt into 36 billion rupees of new debt, translating ...

Bloomberg Carlos Ghosn slipped out of his Tokyo home moments after round-the-clock surveillance of his residence stopped on December 29, Japan’s Sankei newspaper reported. A private security company hired by Nissan Motor Co had been closely monitoring Ghosn while he was out on bail, the newspaper said, citing people with knowledge of the matter. The surveillance ended after Ghosn’s lawyer ...

Bloomberg Singapore-listed fintech firm iFast Corp said it led a consortium of Chinese partners to submit an application for a digital wholesale bank license in the city state. The bid was submitted at the end of December, the company said in a stock exchange filing . Its Chinese partners are Yillion Group and Hande Group. Yillion operates one of four ...

Bloomberg Adani Ports and Special Economic Zone Ltd agreed to acquire a deepwater port on India’s east coast for an enterprise value of $1.9 billion, a move that will help the nation’s biggest port operator by market capitalisation expand capacity by 64 million metric tons. Adani Ports will purchase 75% of Krishnapatnam Port Co in India’s Andhra Pradesh state, it ...

Bloomberg Ousted Bitmain Technologies Ltd co-founder Micree Zhan Ketuan has initiated a legal case to try to regain his position, escalating a battle for control of the world’s biggest miner of cryptocurrency. Great Simplicity Investment Corporation, owned by the engineering whiz-turned-entrepreneur, filed a summons in December in which he asked a Cayman Islands court to reverse a shareholder decision that ...

Bloomberg Hong Kong unveiled a plan to deal with infectious diseases after a mysterious pneumonia outbreak in the central Chinese city of Wuhan. The government classified the response level as “serious” — the second-highest scale of action in its three-tier system, with the top-most being emergency, according to the Department of Health. The public hospitals in Hong Kong have reported ...

Bloomberg Carmakers extended a streak of strong US sales by slathering on the incentives and pumping up deliveries to fleet customers in 2019, calling into question whether the companies can maintain momentum into the new decade. While industrywide deliveries exceeded 17 million for an unprecedented fifth consecutive year, sales slowed in the final months of 2019. General Motors Co and ...