News

Bloomberg Mondelez International Inc, the maker of Oreo cookies and Cadbury chocolates, is in advanced talks to acquire international brands being sold by Campbell Soup Co, people familiar with the matter said. Mondelez is negotiating final terms of a purchase of Arnott’s Biscuits, the Australian maker of Tim Tam cookies, and Danish butter-cookie producer Kelsen Group, according to the people. ...

Bloomberg If Donald Trump’s administration was looking for signs of easing tensions between two of his vaunted constituencies — blue-collar oil and rural farmers — a hearing in Michigan proves otherwise. The two sides exchanged heated comments at a public hearing over proposed changes by the Environmental Protection Agency (EPA) on ethanol policy. Oil refiners and agricultural proponents, including Iowa ...

Abu Dhabi / WAM The value of exports through Abu Dhabi ports increased by 36.6% from AED 12.6 billion in Q4 2017 to AED17.2 billion in the same period of 2018, according to the figures released by Statistics Centre —Abu Dhabi. The business sector increased by AED4.0 billion (32.6%), the government sector by AED 518.4 million (726.1%), and the individual ...

Bloomberg Saudi Aramco, the world’s biggest oil producer, will buy a majority stake in local chemical giant Sabic from the kingdom’s sovereign wealth fund for $69.1 billion, transferring a big slug of cash from one arm of the state to another to help finance Crown Prince Mohammed bin Salman’s economic agenda. The Middle East’s biggest ever deal was first mooted ...

SHARJAH / WAM HH Dr Sheikh Sultan bin Muhammad Al Qasimi, Sup-reme Council Member and Ruler of Sharjah, launched the ‘Sharjah Sustainable City’ project on Wednesday. The AED2 billion project is the first urban mixed-use project in the emirate, which meets the highest standards of green economy and environmental sustainability. The project is the outcome of a strategic partnership between ...

RAS AL KHAIMAH / WAM Ras Al Khaimah Tourism Development Authority (RAKTDA) is holding a series of roadshows targeting key Eastern European countries to promote the destination, highlight the emirate’s latest product developments and unique offerings. A delegation from the authority visited cities of Budapest, Bucharest, Bratislava, Moscow, Kazan, Novosibirsk and St. Petersburg over the course of two months, and ...

Abu Dhabi / WAM Abu Dhabi Smart Solutions and Services Authority (ADSSSA) and VMware have announced a collaboration which will see former leverage a range of VMware solutions. This includes digital solutions to support Abu Dhabi’s unified government services platform (TAMM). ADSSSA is consolidating 1,600 government services into 80 end-to-end journeys. It is using VMware solutions to help foster an ...

DUBAI / WAM Dubai Chamber of Commerce and Industry annou-nced that it will lead a high-level delegation of UAE government officials and prominent businessmen to Panama in April, to explore new growth opportunities in markets across Latin America and the Caribbean region. Kicking off on April 6, the trade mission will coincide with 3rd Global Business Forum (GBF) Latin America ...

Bloomberg US and Chinese officials resume high-level trade talks this week as they close in on a deal that could just be the first step in the long road to economic peace. President Donald Trump’s top trade negotiator, Robert Lighthizer, and Treasury Secretary Steven Mnuchin are due to visit Beijing on Thursday and Friday, while top Chinese negotiator, Vice Premier ...

DUBAI / WAM Studies indicate that the UAE is the world’s top hotspot for hundreds of startups followed by New Zealand, Singapore, Norway, Germany, Japan and Sweden. It is observed that startups in the country are mainly involved in e-commerce, marketplaces, and infrastructure/ software as a service, which account for 69 percent of the total number of startups. About 52 ...