News

Abu Dhabi / Emirates Business The 24th World Energy Congress announced Emirates Water and Electricity Company (EWEC) as a Host Sponsor and key exhibitor, at the upcoming Congress. The inclusion of EWEC in the 24th World Energy Congress, taking place from September 9-12 at Abu Dhabi National Exhibition Centre (Adnec), means most of the UAE’s major energy companies will feature ...

Bloomberg An Indian state-owned refiner is mulling purchase of American oil from Chinese sellers offering cargoes that would be hit by new tariffs on US supplies. Bharat Petroleum Corp. is looking for opportunities to buy some US crude diverted from their original destination of China, according to Refineries Director R. Ramachandran. He said the previously-reported purchase of up to two ...

Bloomberg The Trump administration has launched a multipronged legal assault on an agreement California struck with four carmakers in defiance of the president’s plan to ease national standards on tailpipe emissions. Lawyers from the Transportation Department and Environmental Protection Agency sent a letter to California’s top air-pollution regulator, urging the state to abandon its pact with the automakers and warning ...

Bloomberg Novo Nordisk A/S will offer new US discounts for its insulin drugs NovoLog, Tresiba, and Levemir, joining other pharmaceutical companies that have announced enhanced discounts after public criticism over high prices. In a statement, the Danish insulin maker said it would start a new cash discount programme for the insulins that will allow many American patients to buy a ...

Bloomberg Carbonite Inc, a provider of data protection services, is exploring a sale after receiving takeover interest, according to people familiar with the matter. Its shares rose. The Boston-based company is working with a financial adviser, said the people, who asked to not be identified because the matter isn’t public. It has drawn interest from private equity, the people said. ...

Bloomberg As President Donald Trump dragged the brawl over his forecast for Hurricane Dorian into a sixth day, a US agency released a statement bolstering his account — prompting a scathing response from the leader of an agency union. Trump has repeatedly and defiantly continued to defend his assertion that Alabama was in Dorian’s path. He showed White House reporters ...

Bloomberg On paper, it’s the most expensive condo tower in the US. And at 1,550 feet above Manhattan, it’s also the Western Hemisphere’s tallest. Extell Development is building Central Park Tower, the firm’s ultra-luxury follow-up to One57, the Billionaires’ Row skyscraper that touched off the city’s high-end construction boom — and set the stage for the market’s current slowdown. Costly ...

Bloomberg Roku said on Saturday that it will be making its smart TV technology available in Europe. The Los Gatos, US-based company will let manufacturers license reference designs for its TVs and use Roku OS to create smart TVs for sale in Europe, it said in a statement. Roku already has a partnership with Hisense Home Appliances Group Co and ...

Bloomberg Southeast Asian ride-hailing startup Grab Holdings Inc intends to invest $150 million in artificial intelligence (AI) and hiring more engineers over the next year, accelerating an expanding business that now includes food delivery, digital payments and digital content. Grab, in hot competition with local rival Gojek to become Southeast Asia’s do-it-all super app, outlined for the first time a ...

Bloomberg Singapore’s sovereign wealth fund, GIC Pte, is nearing a deal to buy a majority stake in Oxford Properties Group’s Fairmont portfolio, which consists of four of Canada’s most iconic hotels, according to people familiar with the matter. The talks are advanced and a deal could be announced in coming weeks, said the people, who asked not to be identified ...