News

Bloomberg Nvidia Corp. agreed to buy chipmaker Mellanox Technologies Ltd. for $6.9 billion, gaining expertise to help it push into the growing market for data center components. Santa Clara, California-based Nvidia is paying $125 a share in cash for the company, which makes chips used to speed the flow of information across computer servers. That’s a 14 percent premium to ...

Bloomberg Barrick Gold Corp. is withdrawing its $17.8 billion hostile takeover bid for New- mont Mining Corp., with the companies opting instead to forge a joint venture around their Nevada projects. The change came weeks after Barrick proposed an all-share offer that would have created the world’s largest gold producer. After Newmont’s board rejected the bid, Newmont Chief Executive Officer ...

Bloomberg Google controls many of the ways businesses access customers online in the US, making it almost impossible to run a company without buying advertising from the internet giant. As politicians increase scrutiny of large technology companies, Google’s lock on these digital relationships is becoming a potential liability, not just a lucrative advantage praised each quarter by Wall Street analysts. ...

Bloomberg Twitter Inc. added to efforts to address concerns over privacy protection on social media. In a tweet from its safety handle, the company announced an update to its abuse reporting functions, allowing users to specify personal information issues, with a GIF showing step-by-step instructions. The social media company earlier in the day tweeted an image on its main account ...

Bloomberg The US labour market may not be as weak as February’s payrolls number suggested, but the report provides a reality check that a long-forecast slowdown is arriving. Employers added 20,000 jobs during the month, the fewest since September 2017, missing all economist estimates and bucking a recent trend of strong February readings. Analysts said the unexpectedly low figure doesn’t ...

DUBAI / WAM Dubai’s external non-oil trade in 2018 reached AED1.3 trillion despite challenges facing global trade growth resulting from trade tensions between major economic powers and a global growth slowdown that has led to currency rate volatility in developing countries. The latest trade figures show that Dubai is moving forward steadily as a leading international and regional trade hub ...

Abu Dhabi / WAM A total of 113 listed public joint stock companies distributed AED32 billion in dividends for 2018, according to data released by the Abu Dhabi Securities Exchange and Dubai Financial Market. The largest across the GCC and Mena region, the increased dividends reflect the growth in foreign capital invested in key listed Emirati companies. In further detail, ...

Bloomberg The United Arab Emirates will continue to adjust its oil production until the market rebalances, the Opec member’s energy minister said. “We will continue to deliver on the Opec & non-Opec commitment for voluntary production adjustments, until the global market is re-balanced,” Suhail Al Mazrouei said on Twitter. “UAE compliance for the month of February 2019 will meet, if ...

ABU DHABI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has affirmed that the UAE has been a long way in empowering and integrating the People of Determination in the transformational drive embraced by the country at all levels. The UAE Vice President made the remarks ...

Abu Dhabi / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, led the opening ceremony of Qasr Al Watan – the nation’s newest cultural landmark housed ...