News

Bloomberg Tech giants such as Facebook Inc and Alphabet Inc’s Google will face tougher penalties if they flout privacy laws, under a plan Australia’s prime minister said is necessary to safeguard personal information. Australia’s government will introduce measures to increase fines for breaches, strengthen disclosure policies and embolden its privacy regulator to crack down on data misuse, according to a ...

Bloomberg Billionaire Ajay Piramal’s son is seeking to take advantage of teetering Indian developers to expand his property business. Piramal Realty, which counts Goldman Sachs Group Inc and Warburg Pincus & Co as minority investors, is looking to buy land from distressed developers and build a portfolio of commercial assets, Anand Piramal, the group’s executive director, said in an interview ...

Bloomberg So far, trade wars don’t seem to be as “good, and easy to win” as US President Donald Trump promised a year ago when he imposed tariffs on steel and aluminum imports. The scorecard shows a split decision. US steelmakers Nucor Corp. and United States Steel Corp. saw significant profit gains in 2018. But manufacturers that buy the metal ...

Bloomberg US tech giants might have a respite after two decades of European Union antitrust investigations. But not for long. While Google just got a third, and possibly final, EU fine, regulators still have their eyes on Amazon.com Inc., Apple Inc. and Facebook Inc. EU antitrust chief, Margrethe Vestager, told reporters earlier this month that an early-stage probe into Amazon’s ...

Bloomberg The US posted its biggest monthly budget deficit on record last month, amid a 20 percent drop in corporate tax revenue and a boost in spending so far this fiscal year. The budget gap widened to $234 billion in February, compared with a fiscal gap of $215.2 billion a year earlier. That gap surpassed the previous monthly record of ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) signed, on Saturday, two memoranda of understanding with OMV and one MoU with Borealis to explore new opportunities for collaboration in the downstr-eam sector. The signing of agr-eements was attended by HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the ...

Bloomberg Oil fell the most in three weeks as disappointing economic data sowed new fears of slowing global growth. West Texas Intermediate futures in New York dropped 1.6 percent, paring the week’s gain to less than 1 percent. Weaker than expected manufacturing data from Germany and France cast fresh doubts on Europe’s economic outlook, dragging equities down. The US treasury ...

ABU DHABI / WAM As part of Abu Dhabi Securities Exchange (ADX) held a workshop for listed companies on enhancing relations between listed companies and investors and the role of investor relations manager in this regard in line with international best practice. The workshop comes as part of ADX’s efforts to enhance the role of investor relations in listed companies ...

Sharjah / Emirates Business The Big Heart Foundation (TBHF), a Sharjah-based global humanitarian organisation dedicated to helping people in need worldwide, announced that it provided total support worth AED 58 million, to help over 1,091,000 people across 12 conflict-affected countries, in the year 2018. The funds focused on supporting vital sectors including education, healthcare, and food security, thereby rehabilitating underprivileged ...

Abu Dhabi / Emirates Business Abu Dhabi will host the 2nd Obstetrics, Gynecology and Fertility International Conference from March 28 to 29 at the Abu Dhabi National Exhibition Center (Adnec), with the participation of seven international experts from the University College London Hospitals (UCLH), and leading medical institutions in UK, Switzerland, Lebanon and the UAE. During the conference, organised by ...