News

Bloomberg German investor confidence soured on the back of this month’s stock-market selloff and rising concern that global trade tensions will harm economic growth. ZEW’s measure of investor expectations for the region’s powerhouse plunged to levels recorded at the height of the debt crisis in 2012, highlighting the magnitude of current uncertainty. A gauge for the euro area also declined. ...

Bloomberg US health officials want to force pharmaceutical companies to disclose the prices of their products in television advertisements, setting up a clash with drugmakers who see the move as impinging free speech. Under the proposed rule released, the Department of Health and Human Services would require drug companies to share in ads the full list prices of any medication ...

Bloomberg Canadian business sentiment remains at elevated levels, with companies expecting to ramp up investment to build new capacity and accommodate demand, according to a survey by the central bank. The Ottawa-based central bank’s third-quarter survey of executives — which took place in August and September before Canada reached a deal with the US to replace the North American Free ...

Bloomberg UK wages are growing at their fastest pace in almost a decade, suggesting the economy is continuing to operate with little slack. Average earnings excluding bonuses rose 3.1 percent in the three months through August, the most since January 2009, the Office for National Statistics said on Tuesday. Unemployment held at a 43-year low of 4 percent. While wage ...

ABU DHABI / Emirates Business The value of Mergers and Acquisitions (M&A), transactions with any Middle Eastern & North African (Mena) involvement rea-ched $45.1 billion during the first nine months of 2018, according to Refinitiv, formally Financial & Risk business division of Thomson Reuters. The amount is 65% more than the value recorded during same period in 2017 and an ...

DUBAI / WAM Accenture and Etisalat Digital have developed an interactive 3D flythrough experience of what the Expo 2020 Dubai site will look like in two years’ time. Called Explore 2020, it was expected to be unveiled at Etisalat booth at the Gitex Technology Week. Unveiled less than a week before Expo’s two-years-to-go milestone, the 3D environment, rendered in real ...

DUBAI / WAM The Abu Dhabi Future Energy Company, Masdar, has implemented Tejari-JAGGAER sour- cing and eProcurement system to facilitate an automated, efficient and paperless procurement and contracts system for the company. One of Masdar’s core objectives is to support the UAE Energy Strategy 2050, which aims to increase clean energy 25 to 50 percent. Masdar recognises that a streamlined ...

Bloomberg Abu Dhabi shelved plans for an initial public offering of a 25 percent stake in Spanish oil refiner Cepsa. “Recent international economic developments have created uncertainty in international capital markets,” said Cepsa, which is controlled by Abu Dhabi’s state-owned Mubadala Investment Co. The offering would have valued Spain-based Cepsa at between 7 billion euros ($8.1 billion) and 8.1 billion ...

DUBAI / WAM Arab Health, an exhibition for healthcare and trade professionals in the Mena region, has outlined the role of tech start-ups in playing a more vital role in the healthcare industry in areas such as personalised medicine and more efficient technology-enabled care models. The report, titled ‘Technology: Accelerating Innovation Across Healthcare’, revealed that digital health start-ups are said ...

CAIRO / WAM Noura bint Mohammed Al Kaabi, Minister of Culture and Knowledge Development, announced that the UAE will host the 22nd Conference of Arab Culture Ministers in 2020, which coincides with the 50th anniversary of the Arab League Educational, Cultural and Scientific Organisation (Alecso), and the UAE’s hosting of the world’s arts and culture at Expo 2020 in Dubai. ...