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Abu Dhabi / Emirates Business Agthia Group PJSC, one of the UAE’s leading food and beverage groups, reported H1 2018 net profit of AED109 million on revenues of AED1.01 billion, representing 1 percent like-for-like revenue growth. Agthia’s like-for-like profit also increased by 6 percent, driven by the Group’s relentless focus on cost efficiencies and optimization to add value to its ...

Bloomberg After decades of difficulties in Nigeria over crude theft, pollution and oil-related corruption, Royal Dutch Shell Plc still feels optimistic a fossil fuel can improve life in the country. The Anglo-Dutch oil major is seeking to develop Nigeria’s domestic energy market around natural gas. It’s plentiful, harder to steal, better for the environment and can underpin a robust industrial ...

Bloomberg Sempra Energy Chief Executive Officer Jeff Martin said he’s holding “constructive” talks with activist investors pressing for the company to shed assets and shake up its board. But Elliott Management Corp. and investor partner Bluescape Resources have been frustrated by the pace of the discussions and had hoped for a settlement before Sempra’s second-quarter earnings report, according to people ...

RIYADH / WAM The Government of Jeddah has combined its ancient heritage and its modern advancements through its public and private museums, the Corniche, the historic Jeddah wall, its entertainment and sporting locations, and especially its diving facilities. The Khuzam Palace Museum, part of the King Abdul Aziz Palace, is one of the city’s most important museums because of its ...

Bloomberg SoftBank Group Corp.’s monster Vision Fund plans to lead an investment of $3 billion to $5 billion into Ele.me, the food delivery giant owned by Alibaba Group Holding Ltd., people familiar with the matter said. The near-$100 billion fund led by Masayoshi Son is heading up discussions with potential investors including venture capital firms, said the people, who asked ...

Bloomberg HNA Group Co., the Chinese conglomerate unwinding a global acquisition spree, is in advanced talks to sell a minority stake in jet lessor Avolon Holdings Ltd. to Japan’s Orix Corp., people with knowledge of the matter said. Orix has been discussing the purchase of about a 25 percent to 30 percent stake in Avolon from HNA’s Shenzhen-listed arm Bohai ...

Bloomberg Ola, India’s dominant ride-hailing startup, announced its plans to enter the UK, opening yet another overseas front in a fight with global leader Uber Technologies Inc. Ola will initially side-step London, where Uber has just managed to garner a 15-month extension on its operating license, and will instead begin operations in South Wales and Greater Manchester, and is working ...

Bloomberg Bonds that Reliance Communications Ltd. defaulted on last year slumped to a seven-month low on Tuesday, after the Indian mobile operator controlled by billionaire Anil Ambani offered to repay holders at a discount to the principal value. The firm, which is set to meet with bondholders on August 10, has been trying to close a sale of wireless assets ...

Bloomberg Google, the world’s biggest search engine, is welcome to return to China as long as it complies with the nation’s laws and right to control the internet within its borders, the People’s Daily said. The opinion piece in the state-run newspaper said the Alphabet Inc. unit’s 2010 withdrawal from China, when it complained about hacking and censorship, was a ...

Bloomberg The Japanese university at the centre of a sexism scandal apologised for “systematic” manipulation of test scores aimed at keeping female students out, with top officials saying that discrimination against women should never be allowed. After media reports surfaced of the discrimination, Tokyo Medical University today released a report that concluded a written test for prospective students had “serious ...