News

Bloomberg Shares of drugmaker Bristol-Myers Squibb Co. gained, with acquisition target Celgene Corp. falling after activist hedge fund Starboard Value was said to have taken a stake in Bristol-Myers. The size of Starboard’s stake and any plans that Jeff Smith’s hedge fund might have for its investment in the $81 billion drugmaker couldn’t immediately be learned when Bloomberg reported the ...

Bloomberg Panalpina Welttransport Holding AG’s largest shareholder rejected a $4.2 billion offer from Denmark’s DSV A/S, saying the Swiss air-cargo company would do better with its own expansion plan. The Panalpina committee of the Ernst Goehner Foundation, which holds 45.9 percent of the stock, said in a statement it “supports Panalpina’s board of directors in pursuing an independent growth strategy ...

Bloomberg Europe’s scooter startups Tier Mobility and Voi Technology AB have held early-stage discussions to combine their operations, in response to the impact of larger US rivals on the continent, according to people familiar with the discussions. The talks, which started in November, recently stalled after Voi concluded that it could continue its growth independently, one person said. All of ...

Bloomberg Saudi Arabia’s King Salman has approved a plan to ease levies businesses pay on foreign workers to help revive economic growth. Authorities will exempt some companies from paying the 2018 fees or reimburse those that have already paid, according to the official-Saudi Press Agency. To qualify for the aid, businesses need to have made strides in hiring more Saudi ...

DUBAI / WAM Baker Hughes, a GE Company (BHGE) announced an agreement with Emirates National Oil Company (Enoc), to co-develop VitalyX, a real-time lubricant monitoring system, which can be deployed in multiple industries using large machinery, and advanced cloud-based system to detect and meas- ure key lubricant properties while simultaneously converting data into actionable insights. Enoc, which will not only ...

DUBAI / WAM A majority of businesses in Dubai foresee accelerated economic growth during first quarter of 2019, according to quarterly survey conducted by Department of Economic Development (DED) to gath-er the performance expectations and economic outlook of the local business community. The survey, conducted during final quarter of 2018, showed 59% of companies as optimistic about economic growth in ...

Dubai / WAM Rt Hon Liam Fox, UK Secretary of State for International Trade, has said that the UK enjoys strong trading relations with GCC countries and is looking forward to have a free trade agreement with the bloc in the right time. He also said that the World Government Summit is very indicative of the UAE getting increasingly outward ...

Emirates Business Lockheed Martin, the United States-based global technology leader, is set to showcase its latest advanced technology solutions at the 14th edition of the International Defense Exhibition and Conference (Idex), the only one in the Mena region, to be held in Abu Dhabi from February 17-21. At Idex, the defense and security firm will highlight a diverse portfolio of ...

Dubai / WAM The Legislative Week, organised by the General Secretariat of the Supreme Legislation Committee of the Emirate of Dubai (SLC), was launched on Sunday, with the opening of the “Legislation Lab”, an interactive platform that gave representatives from 67 government entities the opportunity to discuss current and emerging challenges and to explore ways to further develop government legislation, ...

DUBAI / WAM The seventh session of the World Government Summit kicked off on Sunday morning in Dubai with the participation of more than 4,000 people from 140 countries, including heads of state, ministers and officials who will gather to redefine the future of governments and unite efforts to shape the future of the world. The summit will include 600 ...