News

Bloomberg Sika AG offered to acquire Parex Ltd at an enterprise value of 2.5 billion Swiss francs ($2.6 billion), adding a maker of mortar and other construction materials to expand a key business for the Swiss chemicals group. The purchase will add to earnings per share from the first full year after the deal is completed, expected in the second ...

Bloomberg Daimler AG will start selling a heavy-duty truck in the US this year that’s able to brake, accelerate and steer at all speeds on its own. This will coincide with the planned launch of electric-car leader Tesla Inc’s Semi truck, which will stoke competition at a time when demand in North America is forecast to soften. Taking the next ...

ABU DHABI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai said that Dubai is working towards cementing its position as a pivotal economic and commercial hub for the region in line with the fifty-year charter announced by His Highness that aims to ensure Dubai’s sustained prosperity ...

DUBAI / WAM Future Now, the innovation programme of Etisalat, signed agreements with four scale-ups to develop artificial intelligence (AI) and blockchain solutions following the successful Dubai Future Accelerators programme. The signing ceremony also marked the opening of the Future Now scale-up collaborative space for Etisalat Digital’s partners. As part of the fifth group of Dubai Future Accelerators, Etisalat Digital ...

Bloomberg Oil headed for its longest stretch of daily gains in more than 17 months as the US Federal Reserve sought to ease investor concerns, China moved to sti-mulate its economy and Opec production cutbacks took effect. Futures in New York climbed as much as 3.2 percent after a fifth consecutive increase, when they settled at the highest closing level ...

Bloomberg After four years of planning, Tesla Inc finally broke ground on its planned $5 billion factory in the world’s biggest auto market. But the timing couldn’t be more inauspicious. Chief Executive Officer Elon Musk and some Shanghai officials, including Mayor Ying Yong, on Monday attended a function at a site near the city kicking off construction of what would ...

Abu Dhabi / WAM It is vital for the global community to commit to working together to address the challenges of climate change and accelerate sustainable development, UAE ministers and senior business leaders said on Monday ahead of Abu Dhabi Sustainability Week 2019 (ADSW). The event – one of the world’s largest sustainability gatherings – takes place in the UAE ...

DUBAI / WAM Dubai Customs’ Director Ahmed Mahboob Musabih and Indian Consul-General in Dubai Vipul have explored ways of enhancing trade with India and tackling any challenges that may face the companies of both countries. This was discussed during the visit of a delegation headed by Vipul and included a number of businessmen, and representatives of Dubai-based Indian companies. The ...

Dubai / WAM Emirates Integrated Telecommunications Company (EITC), announced the launch of the UAE telco sector’s first Women’s Council as part of its commitment to empowering women and, in parallel with the UAE leadership directives, to emphasise the pivotal role women have in both society and different sectors across the country. Hanan Ahmed, EITC Women’s Council Chairwoman, said, “The Women’s ...

Dubai / Emirates Business After 25 years of professional service in the region, Morison Menon has made a strategic alignment with the 12th top global accounting network Kreston International. Announcing this progression to Kreston Menon in a press conference, Raju Menon, Chairman and Managing Partner, Kreston Menon said that with this strategic movement, the organisation is all set to enhance ...