News

Bloomberg Disappointing earnings may not be over for Taiwan companies, dragged by waning demand for Apple Inc.’s flagship iPhone and deteriorating relations between the island’s two biggest trade partners. Net income for companies on the Taiex index is expected to drop 9.2 percent on-year this quarter after undershooting estimates in the three months through September, the first miss since the ...

Bloomberg Ping An Insurance Group Co., China’s biggest insurer by market value, led investors in injecting 41.5 million euros ($47 million) into Germany’s Finleap GmbH in its latest round of funding. The Chinese behemoth’s $1 billion-Global Voyager Fund led the investment round, the companies said in a statement on Monday, which didn’t disclose additional terms. The deal values the Berlin-based ...

Bloomberg TNG FinTech Group Inc., a Hong Kong-based digital wallet operator, plans to seek as much as $300 million in a US initial public offering, according to people familiar with the matter. The company, whose investors include billionaire Henry Cheng’s NWS Holdings Ltd., is working with advisers on preparations for the proposed share sale, according to the people. It aims ...

Bloomberg China is starting an anti-dumping investigation on imports of Australian barley, sending a signal the world’s top commodity buyer may be increasing scrutiny of one of its most important suppliers. The one-year probe will start on Monday, and could be extended to May 19, 2020, according to a statement on the Ministry of Commerce’s website. Australian barley is being ...

ABU DHABI / Emirates Business Yahsat, UAE-based global satellite operator wholly-owned by Mubadala Investment Company, and Khalifa University of Science and Technology, and Northrop Grumman Corporation, a leading global security company, on Saturday announced the successful launch of the MYSAT-1 CubeSat to the International Space Station (ISS) on board the Northrop Grumman Cygnus spacecraft. The launch took place at the ...

DUBAI / WAM Dr Amal Abdullah Al Qubaisi, Speaker of Federal National Council (FNC) met Bektas Beknazarov, Deputy Chairman of the Senate of the Parliament of Kazakhstan, and his accompanying delegation on the sidelines of the World Tolerance Summit, in Dubai. During the meeting attended by FNC Secretary-General Ahmed Shabib Al Dha- heri, the two sides discussed many topics, including ...

ABU DHABI / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, and Amelia Lacravi, Head of the UAE-France Parliamentary Friendship Group at the French National Assembly, reviewed cooperation betw-een two countries, and discussed joint efforts to adva- nce them in multiple sectors. Al Mansouri and Lacravi exchanged views on current economic and trade developments in international arena, particularly in ...

Bloomberg Hedge funds are betting Opec will struggle to reverse oil’s precipitous plunge. Their combined wagers against West Texas Intermediate and Brent crude soared for a seventh straight week, the longest global short-selling streak in data going back to 2011. The bearish bets jumped 14 percent in the week ended on November 13 and have tripled since the end of ...

Dubai/ Emirates Business Sultan Butti bin Mejren, Director General of Dubai Land Department (DLD), inaugurated the Dubai Property Show – London. The opening ceremony of the third edition was attended by HE Rawdha Al Otaiba, Deputy Head of Mission, UAE Embassy in London; HE Majida Ali Rashid, CEO of the Real Estate Promotion and Investment Management Sector at DLD; Ali ...

Dubai / Emirates Business Styro, a leading Expanded Polystyrene (EPS) manufacturer in the Middle East has opened a 40,000 square meter production facility in Abu Dhabi with an initial investment of AED 70 million to meet a growing demand for its products and services – especially within the construction, interiors, fit-out and packaging sector. Styro is working on several iconic ...