News

Bloomberg 3M Co. agreed to buy medical-products maker Acelity Inc. for about $4.3 billion, its biggest acquisition ever, as new Chief Executive Officer Mike Roman takes a more aggressive approach to expanding the beleaguered company. The purchase, from a group of funds advised by Apax Partners, is spurring 3M to scale back share repurchases to conserve cash. 3M will cut ...

Bloomberg The European Union will start a formal probe of Apple Inc. in the next few weeks following Spotify Technology SA’s antitrust complaint, the Financial Times reported. The music streaming giant had complained to the EU’s antitrust agency earlier this year that Apple’s 30 percent cut of revenue was effectively a tax on competitors. The feud came as the iPhone ...

Bloomberg From a cramped living room in Brooklyn, New York, a handful of young computer nerds have developed a new way to use technology to help save lives in natural disasters. They have designed tiny electronic nodes inside baseball-sized rubber casings that create a special Wi-Fi network spanning more than 100 square miles that can be used to connect victims ...

DUBAI / Emirates Business Emaar Properties achieved one of the highest quarterly property sales in Dubai during the first quarter (January to March) of 2019 recording an increase of 53 percent to AED5.979 billion ($1.628 billion) compared to the Q1 2018 sales of AED3.906 billion ($1.063 billion). The sales to international customers more than doubled in Q1 2019 to AED2.645 ...

Sharjah / Emirates Business Air Arabia on Sunday reported strong financial results for the first quarter (January to March) 2019 as the Middle East & North Africa’s first and largest low-cost carrier continued to deliver solid commercial and operational results. Air Arabia reported a net profit of AED128 million for the three months ending March 31, 2019, a 16 percent ...

ABU DHABI / WAM Etihad Airways will boost its services from Abu Dhabi to London Heathrow during the busy summer period. The additional flights will be operated by a Boeing 787-9 Dreamliner, supplementing the current three daily all-Airbus A380 services between both capital cities. Between May 26 and June 22, four daily flights will be operated on the route, increasing ...

Bloomberg Tariffs on $200 billion of Chinese imports will increase to 25 percent from 10 percent on Friday, and another $325 billion in goods will “shortly” be subject to tariffs, President Donald Trump said on Sunday, in a warning to China as what could be a closing round of talks for a trade deal are set to start in Washington ...

ABU DHABI / WAM The value of non-oil foreign merchandise trade through Abu Dhabi ports increased 11.5 percent from AED32.1 billion in January to February 2018 to AED35.8 billion in the same period of 2019. This was the result of a 47.0 percent increase in re-exports from AED 6.0 billion to AED 8.8 billion and 5.6 percent increase in imports, ...

ABU DHABI / WAM The UAE’s moon sighting committee on Sunday announced that Monday, May 6, will be the first day of the Holy Month of Ramadan. President HH Sheikh Khalifa bin Zayed Al Nahyan, has sent cables of congratulations on the advent of the holy month of Ramadan to Kings, Presidents and Emirs of the Arab and Islamic countries. ...

DUBAI / WAM The UAE’s drive to ensure food security for its citizens was highlighted in the USA, when Mariam Hareb Almheiri, Minister of State for Food Security, visited the states of California and Arizona. Accompanied by Yousef Al Otaiba, UAE Ambassador to the United States, the trip formed part of the minister’s agenda to find out more about international ...