News

Dubai / Emirates Business With the start of a new cruise season last month, Dubai has stepped up its drive to attract more cruise travellers keen to explore and enjoy the city’s winter sun offerings as part of efforts to further strengthen its position as a leading ‘cruise hub of the region’. The upcoming 2019/2020 season is expected to welcome ...

Dubai / Emirates Business Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, announced the beginning of construction of its new headquarters in Al Jaddaf, Dubai, at a cost of AED 280 million. The building is expected to be inaugurated in the first quarter of 2021. The new 730,000 square feet headquarters includes two buildings; an ...

Dubai / Emirates Business The Saudi Logistics Hub, a government initiative mandated to support the growth of the country’s logistics sector, held its first global roadshow in the UAE in collaboration with the National Association of Freight and Logistics (NAFL). Numerous business leaders from the logistics sector attended the event, held at the Dubai International Financial Centre (DIFC), and learned ...

HODEIDAH / WAM The UAE, represented by the Emirates Red Crescent (ERC), provided new supplies of medicines and laboratory equipment to three medical centres in Hodeidah Governorate, as part of its timely efforts to support the health sector in Yemen’s Red Sea Coast. The medical aid was delivered to the Al Matina Centre in At Tuhayta District, and the centres ...

Bloomberg British businesses are taking Boris Johnson’s election pitch to ‘Get Brexit Done’ with a pinch of salt: they know that confusion over the UK’s exit from the European Union is set to carry on through 2020, or longer. Even if the prime minister wins a parliamentary majority in December and passes his Brexit withdrawal agreement, UK Plc would face ...

Bloomberg AstraZeneca Plc is teaming up with one of China’s largest investment banks on a $1 billion biotechnology venture capital fund as the UK drugmaker builds presence in the fast-growing market. AstraZeneca will work with China International Capital Corp to target support for drug and diagnostics developers along with other startups using artificial intelligence and digital technologies to improve health ...

Bloomberg Germany is walking a tight line as an industrial recession threatens to drag down the broader economy, one of the leading economic experts advising Chancellor Angela Merkel‘s government warned. “Manufacturing has been hit hard by the decline in world trade — industry is in recession,” said Volker Wieland, a member of the council of economic advisers, which lowered its ...

Bloomberg The collapse of star investor Neil Woodford’s business empire reverberated beyond his own stockholdings, dealing a blow to the fundraising environment for early-stage British biotechnology that’s just starting to heal. Budding biotech companies, which counted Woodford as a champion, saw money from global investors drop after the mogul froze withdrawals in his flagship fund in June. Five months later, ...

Bloomberg BMW AG is showing signs of recovery under its new chief executive officer, with aggressive cost-cutting and demand for upscale models like the big X7 SUV helping to bolster third quarter earnings. After stumbling in recent quarters with low profitability and a series of operational and regulatory issues, CEO Oliver Zipse’s first results report after taking charge showed a ...

Bloomberg Infosys Ltd, the Indian software maker that’s battling whistle-blower allegations about its finances, sought to assure investors that the accusations have had little impact on the company’s ability to win contracts. Anonymous whistle-blowers last month alleged that Chief Executive Officer Salil Parekh used “unethical practices” to boost revenue and profit in recent quarters. The whistle-blowers also said recent big ...