News

Bloomberg UK manufacturers and their counterparts across the European Union said they’re “woefully” unprepared for a no-deal Brexit, and called on the bloc to avoid Britain leaving without an agreement. “Neither the EU nor the UK are ready, and as a consequence European industry is also not adequately prepared, for this cliff-edge scenario,” manufacturing lobby groups MakeUK and Ceemet said ...

Bloomberg The UK economy is on course for a stronger-than-forecast first quarter despite an escalating Brexit crisis that’s divided Parliament and the government. Gross domestic product rose 0.2 percent in February after a 0.5 percent jump in January. That means the economy will expand 0.5 percent in the first quarter if GDP is unchanged in March. That’s more than double ...

Bloomberg BioTek Instruments Inc., a closely held US medical device maker, is exploring options including a sale amid interest from rivals and investment firms, according to people familiar with the matter. BioTek could be valued at about $1 billion in a sale, said the people, asking not to be identified because the matter is private. Health care companies and investment ...

Bloomberg Brazilian oil giant Petrobras will get $9.06 billion to settle a deep-water contract dispute with the government, ending years of negotiations and paving the way for Big Oil to access enormous crude deposits in the area. Energy Minister Bento Albuquerque told reporters that compensation for a 2010 contract review will be paid in one settlement, and the resolution will ...

Bloomberg In the next few months, anyone will be able to buy stock in Slack Technologies Inc. In the meantime, wealthy investors are paying big premiums to snap up shares of the workplace software maker on private markets. Investors are buying stock in some cases for more than double the price of Slack’s last fundraising round in August, which valued ...

DUBAI / WAM The UAE is set to play a big role in China’s One Belt and One Road Project, as stated on the sidelines of Annual Investment Meeting (AIM), in Dubai. The 9th edition of AIM brought to focus several investments and projects associated with the initiative. Abdulla Al Saleh, Undersecretary for Foreign Trade, UAE Ministry of Economy said, ...

Dubai / WAM Dubai Customs has announced the launch of a smart channel dedicated to Expo2020 Dubai, providing customs services to exhibitors taking part in the global event. The ‘Expo 2020 Smart Customs Channel’ provides exhibitors with customs services via their smart mobiles and devices around-the-clock, which will help exhibitors finalise their customs transactions easily. The channel relies on advanced ...

Bloomberg Saudi Arabian oil giant Aramco received more than $100 billion in orders for its maiden global bond. The bond sale, the most highly anticipated in recent memory, is set to be the largest-ever in emerging markets and one of just a handful of times that a company anywhere in the world received more than $100 billion in bids for ...

Bloomberg The cost of reaching global climate goals is falling rapidly as wind and solar prices plummet and policy makers push electrification as the main tool to cut pollution, the International Renewable Energy Agency said. The group known as Irena revised down its estimates for global investments needed by 2050 in clean energy to meet targets under the Paris Agreement ...

Dubai / Emirates Business Mint Middle East (MME) is set to make carrying money while travelling a hassle-free experience and strengthen the ability of financial institutions to keep an accurate record of their customers. At the 2019 edition of Seamless, the region’s largest payments and commerce technology conference and exhibition, Mint Middle East is launching two new products — to ...