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Bloomberg Ucommune, the largest rival to WeWork in China, plans an initial public offering in the US in December even as the better-known competitor still recovers from its botched IPO, according to people familiar with the matter. The first-time share sale of the Chinese office-sharing provider could raise about $100 million, said the people, asking not to be identified discussing ...

Bloomberg Hangzhou Hikvision Digital Technology Co Ltd’s shares fell by the most in more than a month after China’s securities regulator opened a probe into alleged misconduct by its billionaire vice chairman. The investigation, announced in a filing, deals another blow to the surveillance giant that’s blacklisted by Washington. The Chinese seller of video cameras said the China Securities Regulatory ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc), on Wednesday announced a significant investment to upgrade its giant Bab onshore field, one of its largest onshore producing assets, located 160 kilometres southwest of Abu Dhabi city. The investment valued at AED1.8 billion will re-energise Adnoc’s first field producing Murban grade crude to sustain long-term crude oil production ...

ABU DHABI / WAM The National Petroleum Construction Company (NPCC), a part of Senaat Abu Dhabi, on Wednesday announced an ambitious five-year plan, backed by multimillion dirham investments, to transform its digital capabilities and meet the evolving needs of its clientele, employees and the region’s oil and gas industry. As part of the digital transformation, the NPCC marked a strategic ...

ABU DHABI / WAM Damac Properties announced its financial results for the nine months of 2019, reporting a total revenue of AED2.8 billion, with booked sales reported at AED2.4 billion. According to a press release issued by Damac Properties on Wednesday, gross profits for the same period stood at AED838 million reflecting gross profit margins of 30.3 percent. Total assets ...

BloomBerg Oil fell for a third day amid concerns over the US-China trade dispute, and signs of another increase in American crude stockpiles. Futures declined as much as 1.1% in New York. President Donald Trump’s speech disappointed investors after he gave little insight on how the impasse with Beijing will be resolved, and warned of higher tariffs if a deal ...

ABU DHABI / WAM Hub71, Abu Dhabi’s global tech ecosystem, signed a Memorandum of Understanding (MoU) with Misk Foundation – during the three-day Misk Global Forum in Riyadh – that outlined steps towards creating a more dynamic market for startups between the UAE and Saudi Arabia. The MoU outlines steps towards building a larger shared ecosystem aimed at helping startups ...

Abu Dhabi / Emirates Business Etihad Airways (Etihad), the national airline of the UAE, and the flag carrier of Pakistan, Pakistan International Airlines (PIA), relaunched their codeshare partnership to provide their customers with greater access to both airlines’ trunk routes between the UAE and Pakistan, and on Etihad services across its global network. The codeshare flights will be open for ...

ABU DHABI / WAM Schlumberger on Wednesday signed an agreement with the Abu Dhabi National Oil Company (Adnoc), to support its In-Country Value (ICV), Programme, which is designed to catalyse socio-economic development, improve knowledge-transfer and generate jobs for UAE nationals. Through participation in Adnoc’s ICV Programme, Schlumberger plans to recruit and invest in the training of UAE nationals for the ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, in the presence of HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai; HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai; and H.H. Sheikh Saif bin Zayed Al Nahyan, ...