News

Bloomberg PG&E Corp., the bankrupt utility giant being pressed by two activist investors to remake its board, may be receiving yet another set of director nominations. An ad hoc committee of shareholders being represented by the law firm Jones Day has discussed nominating at least nine board members, people familiar with the situation said. The committee is made up of ...

Bloomberg Vodafone Group Plc plans to raise about 4 billion euros ($4.5 billion) selling bonds convertible into shares to fund the acquisition of some of Liberty Global Plc’s European businesses without weighing down the phone giant’s balance sheet. The two sets of sterling-denominated securities, announced on Tuesday, will help pay for the $22 billion purchase of Liberty Global’s German and ...

Bloomberg Qualcomm is putting the value of its patent portfolio on the line in a California courtroom in its hometown to try to make Apple Inc. pay for using technology the chipmaker credits for the iPhone’s commercial success. It’s the first time a US jury will have a say in the two-year, sprawling global battle between the tech giants. Qualcomm ...

Bloomberg Economic activity in the euro area was stronger than expected in February as an improving services sector managed to offset a slump in industry. Services expanded across the 19-nation euro area, bolstered by gains in Germany, Ireland and Spain, according to IHS Markit. That pushed a composite Purchasing Managers’ Index to 51.9, the highest in three months. An initial ...

DUBAI / Emirates Business Middle East and North Africa (Mena) IT spending is projected to reach $160 billion in 2019, a 1.8 percent increase from 2018, according to the latest forecast by Gartner Inc. “In 2019, businesses in Mena are set to increase their IT spending in all segments except for the devices segment,” said John Lovelock, distinguished research vice ...

ABU DHABI / WAM The realty sector attracted the largest share of liquidity on the country’s two main bourses during the first two months of the current year. Up to AED4.45 billion of real estate transactions were conducted in January and February, accounting for 24.4 percent of the total trades, valued at AED18.2 billion, according to official figures obtained by ...

ABU DHABI / WAM AbdulAziz Al-Ghurair, Chairman of UAE Banks Federation, together with CEOs of leading UAE banks, received Sigal Mandelker, the US Under Secretary of the Treasury, and Paul Khuri, the recently-appointed US Treasury Attache to the UAE and the Sultanate of Oman, along with other high-level delegates from the US Treasury. The meeting addressed ways of increasing consultations, ...

Bloomberg Oil climbed as the US and China were said to near a deal on trade that would underpin the outlook for crude demand, while supplies around the world showed signs of tightening. Futures in New York rose as much as 1.1 percent after a drop of 2.6 percent last week. The world’s two biggest economies are approaching an accord ...

Dubai / Emirates Business Dubai Chamber of Commerce and Industry honoured 33 companies for their corporate social responsibility and sustainability efforts in the second half of 2018 during a recognition ceremony recently held at its premises. The Dubai Chamber CSR Label was presented to Landmark Group and United Engineering Construction Company for the first time. Congratulating the awardees for their ...

Dubai / WAM Dubai Mercantile Exchange (DME), on Monday announced a 160 percent increase year-on-year in trading activity on the exchange’s forward curve. The forward curve represents the value of Oman Blend Crude Oil in future months. Activity in the forward curve happens when customers want to protect themselves against the risk that the price of Oman crude oil will ...