News

Bloomberg Volvo Cars and China’s Geely plan to merge their engine operations into a standalone company, a step the Swedish automaker says will cut costs as it shifts to a fully-electrified lineup. The combined unit would supply two million diesel and gasoline-powered engines, versus the 600,000 Volvo produces, giving the two companies more scale to reduce material costs. It could ...

Bloomberg Shares of UK construction suppliers slid after a profit warning from SIG Plc provided the latest sign of a weakening industry outlook amid concern over slowing growth and Brexit. The vendor of roofing materials, insulation products and partition walls saw its stock plunge as much as 27%, the most in a decade, after saying that adjusted profit would be ...

Bloomberg The battle for control of Osram Licht AG is set to enter a new round after Austria’s AMS AG vowed to keep fighting after a sweetened 4 billion euro ($4.4 billion) offer failed. AMS, a supplier to Apple Inc, will seek a regulator nod to raise its 19.99% stake in Osram. As the biggest shareholder in the German lighting ...

Abu Dhabi / WAM Under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, HH Sheikh Hamed bin Zayed Al Nahyan, Chief of the Abu Dhabi Crown Prince’s Court, officially opened the 26th World Road Congress Abu Dhabi 2019 on Sunday as discussions on ...

Abu Dhabi / WAM The Abu Dhabi Securities Exchange (ADX) on Sunday listed the Emirate of Abu Dhabi Global Medium Term Note Programme total amount of $ 10,000,000,000 in three tranches, according to ADX’s official website. Demonstrating strong investor confidence in its solid credit fundamentals, the Emirate of Abu Dhabi on September 23 successfully priced a $10 billion multi-tranche international ...

Abu Dhabi / WAM The value of non-oil foreign merchandise trade through Abu Dhabi ports stood at AED 121.5 billion by end of first seven months of 2019, according to the figures revealed by the Statistics Centre-Abu Dhabi (SCAD), Sunday. According to SCAD, foreign trade data presented do not cover non-oil exports and imports through ports of the other Emirates ...

Abu Dhabi / WAM The Registration Authority of the Abu Dhabi Global Market (ADGM), and the Registrar of Companies New Zealand have announced a partnership to expand their cooperation, in recognition of the increasingly international nature of business, aimed at improving the exchange of information and expertise in both jurisdictions. The Statement of Co-operation (Agreement) was signed by Dhaher bin ...

Bloomberg The hunt for yield is still on in emerging markets. And as that plays out, expect Asia to outperform. Those are the main findings of Bloomberg’s quarterly survey of 54 global investors, strategists and traders on their outlook for developing-nation assets. The trade dispute between the US and China remains a key concern. But looser monetary policy among major ...

Dubai / WAM During her visit to the Gitex Technology Expo 2019 at the Dubai World Trade Centre on Sunday, Dr Amal Abdulla Al Qubaisi, Speaker of the Federal National Council (FNC), launched the first-of-its-kind “Smart Parliament App” in the Arab world and the Middle East. The ‘Smart Parliament App’ aims to expand communications between FNC members and the UAE community, ...

Dubai / Emirates Business Etisalat on Sunday welcomed visitors at Gitex Technology Week with its advanced and innovative showcases focusing on its main theme ‘5G-A World without limits’ highlighting the significant role of technologies like AI, Robotics, VR and AR across verticals. The theme is aligned with Etisalat’s vision ‘Driving the digital future to empower societies’ by presenting solutions for ...