News

Bloomberg Australian investors are set to receive a boost in dividend payouts this month as companies rush to avoid a looming overhaul of tax rules if there’s a change of government. The main opposition Labor party, which is favorite to win elections expected in May, is pledging to tighten so-called franking rules, under which shareholders reduce their overall tax liability. ...

Bloomberg Indonesia is set to make halal labeling mandatory for consumer products and services this year with the government assuming greater control of the certifying process from the Muslim-majority nation’s Islamic cleric council. Issuing halal certificates to consumer goods from shampoos to toothpaste and cosmetics may net the government about 22.5 trillion rupiah ($1.6 billion) in annual revenue, said Sukoso, ...

Bloomberg Europe’s push to scrap use of coal as a power generation fuel could make Fortum Oyj think twice before launching a bid for a full takeover of Uniper SE, one of the continent’s biggest burners of the dirtiest fossil fuel. Fortum, which owns a 49.99 percent stake in Uniper, said it had ended its long-running feud with the German ...

Bloomberg The UK cancelled a 13.8 million pound ($18 million) contract with Seaborne Freight, a startup company that doesn’t own any ships, to deliver backup ferry service in the event of a no-deal Brexit. Lawmakers had criticized the contract award. The deal was scrapped when “it became clear Seaborne would not reach its contractual requirements with the government,” the Department ...

Bloomberg Alector Inc. raised $176 million in the first US initial public offering without a fixed share price since the government shutdown all but froze the market. The biotechnology company said in a statement that it sold 9.25 million shares at $19 each, the midpoint of the marketed range of $18 to $20. The share sale gives the company a ...

Bloomberg Amazon.com Inc managers have weighed alternatives to locating a corporate campus in New York City after local officials opposed the plan, according to people with knowledge of the matter. Some people involved in the planning for Amazon’s East Coast expansion have discussed whether to pare back the New York plans, said the people, who asked not to be identified ...

Dubai / WAM The largest ever World Government Summit will begin on Sunday to redefine the future of governments and unite efforts to solve universal challenges facing humanity. HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said, “The human being is the centre of World Government Summit. Our main ...

SHARJAH / WAM Business and trade activities and events have played a major role in leading the UAE regionally and globally in more than 10 sub-indicators in the doing business report and being a regional hub for more than 24 percent of the world’s 500 largest companies, said Hamid Mohammed bin Salem, Secretary-General of Federation of UAE Chambers of Commerce ...

ABU DHABI / WAM Organised by Abu Dhabi Food Control Authority (ADFCA), Abu Dhabi is set to host the first edition of EuroTier Middle East, from September 2 to 4, at Abu Dhabi National Exhibition Centre (Adnec). It will also be the first time EuroTier will be organising its fair outside of Germany.

CAIRO / WAM HH Sheikha Jawaher bint Mohammed Al Qasimi, wife of HH the Ruler of Sharjah, noted that Egypt is witnessing a renaissance, both institutionally and in developing their human capital, under the leadership of President Abdel Fattah el-Sisi, and the efforts of Egyptian society. The statement came during Sheikha Jawaher visit to the National Training Academy for Youth ...