News

Bloomberg Sugar output in India may drop to a three-year low next season from a record as dry weather shrivels cane plants in some major growing areas of the country that vies with Brazil as the world’s top grower. Production may slide to 28 million to 29 million tons in the year that begins on October 1 from 33 million ...

Bloomberg India will launch a lunar mission on July 15, attempting to become the fourth country to land on the moon and cementing its place among the world’s space faring nations. The Chandrayaan-2 mission aims to deliver a rover to an elevated plane close to the uncharted lunar South Pole on September 6 or 7 and investigate the surface for ...

Bloomberg Britain is to become the first major economy to adopt laws that require a cut in fossil-fuel emissions to zero by 2050 to fight climate change. Prime Minister Theresa May said legislation to wipe out the UK’s net contribution to rising global temperatures will be put to members of Parliament, endorsing a report from advisers that laid out what ...

Bloomberg KKR & Co. is seeking to buy out minority shareholders of Axel Springer SE in a deal that would value the German publisher at about 6.8 billion euros ($7.7 billion). KKR offered to pay 63 euros a share in cash — a 13 percent premium over close and about 40 percent more than the price before Bloomberg reported the ...

Bloomberg Dassault Systemes SE, a maker of industrial design software, agreed to buy Medidata Solutions Inc. for $5.7 billion to gain a foothold in the fast-growing market for clinical trial technology. The deal pushes the French company further beyond its design roots into data processing and business analysis. Medidata’s software analyses pharmaceutical and biotech trials for some of the world’s ...

Bloomberg Volkswagen AG ended a self-driving technology partnership with Silicon Valley startup Aurora Innovation Inc. as it draws closer to a broader collaboration on autonomous cars with Ford Motor Co. “The activities under our partnership have been concluded,” a VW spokesman said of its alliance with Aurora in a statement. The German manufacturer announced the tie-up with Aurora to develop ...

Bloomberg European industry is in trouble and there’s a risk it will infect other parts of the economy, deepening the slowdown that’s already left the region fragile. Concern is growing in markets and even at the European Central Bank that the services sector won’t be able to withstand a broader manufacturing slump. That would undermine jobs growth and domestic demand, ...

Dubai / WAM The UAE is the second highest regional investor in artificial intelligence (AI) over the past 10 years, investing $2.15 billion in total, according to the AI Maturity Report in the Middle East and Africa (MEA), a new study commissioned by Microsoft and conducted by Ernst & Young (EY). “The bulk of this investment went towards social media ...

DUBAI / WAM Dubai recorded a non-oil foreign trade of AED 339 billion ($92.3 billion) in the first quarter of 2019, announced Dubai customs, registering an increase of seven percent year-on-year from AED316 billion recorded during the same period last year. Exports registered the most growth, rising 30 percent to reach AED42 billion while re-exports grew seven percent to AED106 ...

DUBAI / WAM Dubai Chamber of Commerce and Industry, Dubai Chamber, has announced its plans to host the fifth edition of the Global Business Forum (GBF) on Africa on November 18 and 19 in Dubai. Organised under the theme, ‘scale up Africa’, GBF Africa 2019 will bring together African and UAE government and business leaders to explore avenues of economic ...