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Bloomberg Norwegian mobile operator Telenor ASA is acquiring a majority stake of Finland’s DNA Oyj and will offer to buy the rest for a total of 2.77 billion euros ($3.1 billion), challenging Telia Co. for dominance in the Nordic region. Telenor will pay 20.90 euros a share in cash for the 54 percent of DNA held by Finda Telecoms Oy ...

Bloomberg Two years after Britain had its first coal-free day since the Industrial Revolution, the nation’s network operator is readying itself for life without any fossil fuels. The grid may start dropping its need for natural gas power for short periods in about 2025, coinciding with coal’s complete phaseout. The system wants to be “zero-carbon capable” by then, said Julian ...

DUBAI / WAM Mohammed Ibrahim Al Shaibani, Director-General of His Highness the Ruler’s Court in Dubai, officially opened the new ‘Martyrs Mosque’ located at Muhaisnah area in Dubai. The mosque was built following a generous donation from HH Sheikha Hind bint Maktoum bin Juma Al Maktoum, Wife of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister ...

Abu Dhabi / AGENCIES Mubadala Investment Company and Carlyle Group on Monday announced that funds affiliated with Carlyle will acquire a significant minority interest in Compania Espanola de Petroleos, Cepsa, from Mubadala. Carlyle Group LP plans to buy a stake valued at as much as $4.8 billion in Cepsa from Mubadala Investment Co. The US company will acquire 30 percent ...

DUBAI / Emirates Business Dubai’s non-oil private sector economy expanded at a faster rate in March, while the total business activity (output) increased at the fastest rate since January 2015. Two of the three key monitored sectors — travel & tourism and wholesale & retail — posted series record increases in activity. With new business growth also accelerating, expectations for ...

Bloomberg Oil spiked to its highest level in five months as a drop in the US dollar and conflicts from Iran to Libya helped make the barrel look like an increasingly strong bet for investors. Crude futures rallied as much as 2.1 percent in New York on Monday. The dollar fell, improving the lure of commodities priced in the greenback. ...

ABU DHABI / WAM The pavilion of the Khalifa Fund for Enterprise Development at AIM Startup 2019, which is being held in conjunction with the 9th Annual Investment Meeting (AIM), is attracting a large number of representatives of small and medium enterprises (SMEs), entrepreneurs and consultants. The fund is showcasing its innovative services and financing solutions for national SMEs. It ...

Bloomberg Saudi Aramco started the sale of its debut dollar bonds, drumming up an orderbook of about $40 billion, according to people familiar with the matter. The oil giant is offering six-tranche debt, according to people familiar with the matter. The world’s most profitable company is tapping the market ahead of a planned $69 billion acquisition. Demand for the most ...

Dubai / Emirates Business Etisalat’s pioneering efforts in 5G will pave the way for the ‘Future of Connectivity’ with innovation and digital transformation taking centre stage and leading the company to play a greater role in the digital lives of consumers and enterprises, said Hatem Bamatraf, Chief Technology Officer (CTO), Etisalat International at 5G Mena 2019. Bamatraf was the keynote ...

Abu Dhabi / WAM This Summer, Etihad Airways has announced that it will introduce the Boeing 787-9 Dreamliner on its scheduled services from Abu Dhabi to Johannesburg, effective August 1, Lagos, effective August 2, and Milan, effective September 1, replacing the Airbus A330s currently operating the routes. All three destinations will feature Etihad Airways’ next-generation Business and Economy cabins, configured ...