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Dubai / WAM Brand Dubai, the creative arm of the Government of Dubai Media Office (GDMO), will showcase four promising homegrown entrepreneurial ventures from Dubai as part of its ‘Proudly from Dubai’ initiative at the ChangeNOW Summit to be held in Paris from September 28-29. An initiative that aims to support entrepreneurs and businesses from the emirate, ‘Proudly from Dubai’ ...

Bloomberg Deep-sea oil drillers are once again riding the wave of investor enthusiasm that next year will be better for profits. But this time there seems to be a bigger chance it will actually happen, according to analysts at Credit Suisse Group AG and Morgan Stanley. Some of the world’s biggest owners of rigs that drill oil wells in more ...

Bloomberg Oman’s Renaissance Services SAOG, a service provider to the oil and gas industry, is considering an initial public offering for its Topaz Energy & Marine unit, according to people familiar with the matter. Renaissance, which has a market capitalisation of about $379 million, could seek a valuation of about $1.5 billion for the Dubai-based business, the people said. Goldman ...

Bloomberg China said it’s open to talking on the trade dispute, but it needs the US to show sincerity and not put a knife at Beijing’s throat. The US trade restrictions are responsible for the stalled talks and any resumption is up to them, according to Wang Shouwen, China’s vice commerce minister. The two sides had previously reached some consensus ...

Bloomberg Oyo Hotels, an Indian startup for booking reliable rooms in the country’s chaotic lodging market, is raising $1 billion to fund expansion into China and other global regions. Existing investors including SoftBank Vision Fund, Sequoia Capital and Lightspeed Venture Partners have put in $800 million, with commitments for another $200 million, the company said. About $600 million of the ...

Bloomberg Buy the businesses that hold the real-estate assets rather than the ones that sell them. That’s the message from a growing number of analysts in Singapore who say REITs, or real estate investment trusts, are a better bet than developers in light of the island’s recent cooling measures. For much of 2017 and the first half of this year, ...

Bloomberg North Korea signalled it wants investments from South Korean companies to help modernise the secluded country, said a top executive in the business delegation that visited Pyongyang last week. North Korea wants to have economic cooperation and technical assistance from the South, Sohn Kyung-shik, the 79-year-old co-chairman of CJ Group and the head of the Korea Employers Federation, told ...

Bloomberg The founders of Instagram are leaving Facebook Inc. after growing tensions with Chief Executive Officer Mark Zuckerberg over the direction of the photo-sharing app, people familiar with the matter said. The stock dropped 2 percent in pre-market trading on Tuesday. Kevin Systrom and Mike Krieger, who have been at the company since Instagram’s acquisition by Facebook in 2012, had ...

Bloomberg Johnson & Johnson’s latest trial over claims that its baby powder causes cancer ended in a stalemate when jurors couldn’t agree on a verdict. A state judge in Pasadena, California, declared a mistrial after jurors deadlocked on Carolyn Weirick’s request for at least $25 million in damages over her mesothelioma, a cancer linked to asbestos exposure. Weirick said she ...

Bloomberg Google Chief Executive Officer Sundar Pichai said he will meet with lawmakers on Capitol Hill this week as his company and other internet giants face increasing scrutiny from conservatives who allege that their views are being censored online. “I look forward to meeting with members on both sides of the aisle, answering a wide range of questions, and explaining ...