News

Bloomberg 21st Century Fox Inc accepted a sweetened, $71.3 billion bid from Walt Disney Co for its entertainment assets, outbidding Comcast Corp in a battle for one of the media industry’s biggest prizes. The $38-a-share price is about $10 a share higher than what Disney offered in December — and $3 above Comcast’s bid from last week. The new agreement ...

Bloomberg Consumer confidence slid for a seventh month in Sweden amid sliding housing prices and a tumbling krona, adding to woes as the largest Nordic economy now also faces a possible trade war. The National Institute of Economic Research’s consumer confidence indicator unexpectedly slid to 96.8 in June, which is the lowest in almost two years. Swedes became more pessimistic ...

ABU DHABI / WAM The Ministry of Foreign Affairs and International Cooperation (MoFAIC) and the UAE Armed Forces on Tuesday presented evidence showcasing a wide range of military weapons and equipment acquired by the Arab Coalition during operations in Yemen on behalf of the legitimate Yemeni Government. The captured weapons, each of which bore distinctive links to Iran, provided physical ...

DUBAI / WAM Emirates Islamic has received two awards at the Banker Middle East Product Awards that took place in Dubai. The bank claimed the ‘Best Mobile Banking app’ award and also won ‘Best Islamic Card’ for its Emarati Credit Card that is customised to meet the needs and lifestyles of the UAE’s national customers via exclusive privileges and offers. ...

Abu Dhabi / Emirates Business The connected aircraft, enabled by satellite communications, has the potential to save airlines $15 billion annually in operational efficiencies and 21.3 million tonnes of CO2 emissions by 2035, according to first-of-its-kind research from the London School of Economics and Political Science (LSE) in association with Inmarsat, the world’s leading provider of global, mobile satellite communications. ...

Bloomberg BOE Technology Group Co.’s stock market reversal is dramatic even by China’s outsized standards. It took less than a year for the Apple Inc. supplier to go from one of the nation’s best-performing stocks to among its worst — a precipitous selloff that may not be over. China’s largest maker of screens for TVs and phones shed more than ...

Bloomberg Deadly dust storms sweeping over the densely-populated north Indian plains are part of a “new normal” of disruptive weather events worsening the country’s already-lethal air pollution and causing disruption in the $2.3 trillion economy. In recent months, dust clouds and storms have killed hundreds of people, destroyed thousands of homes and farmers’ crops and led to flight cancellations. The ...

Bloomberg Mercari Inc. soared on its first day of trading on the Tokyo Stock Exchange, underscoring investor optimism in its prospects. Shares of the Japanese online marketplace traded at around 5,300 yen in Tokyo on Tuesday, rallying from the 3,000 yen price at the initial public offering on June 11. Mercari raised $1.2 billion, Japan’s biggest for a technology company ...

Lausanne / Emirates Business The second edition of the IMD World Digital Competitiveness Ranking 2018 saw a slight improvement in the global ranking of the UAE, allowing it to reach 17th place, and lead its Arab neighbours in the report. The IMD World Digital Competitiveness Ranking 2018 studies 63 economies. This year the majority (29) of countries in the study ...

HODEIDAH / WAM The Joint Yemeni Resistance Forces have successfully gained control of large parts of Hodeidah Airport in a qualitative and surprising military operation that destroyed the defences of the Iranian-backed Houthi militias, amid the escape of a large number of militias, and the killing of dozens under a barrage of fire of resistance with the participation and support ...