News

Bloomberg KKR & Co. said it is taking over Taiwanese company LCY Chemical Corp. in a deal valued at $1.56 billion, as the global buyout firm seeks to make additional majority stakes purchases in Greater China. A consortium led by New York-based KKR agreed to acquire all of LCY’s shares for NT$56 each, a 17.3 percent premium to July 20’s ...

Bloomberg Online fashion retailer Farfetch UK Ltd is buying a Chinese digital marketing agency to help sell luxury brands to consumers on Tencent Holdings Ltd.’s WeChat messaging service. Farfetch is acquiring CuriosityChina and will integrate it into its services division, providing the likes of high-end shoe designer Manolo Blahnik with packages of digital solutions. It’s been trying to boost its ...

Bloomberg China Tower Corp., the state-owned wireless infrastructure operator, has attracted Hillhouse Capital and a unit of Alibaba Group Holding Ltd. as investors in its planned Hong Kong initial public offering, people with knowledge of the matter said. Hillhouse funds and Taobao China Holding Ltd. are among the 10 firms that agreed to buy about $1.4 billion of stock as ...

Bloomberg Taiwan Semiconductor Manufacturing Co. climbed the most in almost three years as investors focussed on its prediction that the outlook for high-priced devices would be strong in the second half. Shares in the world’s largest contract chipmaker rose 5.8 percent to NT$237.50 in Taipei. Executives said they expected demand for premium devices — such as Apple Inc.’s iPhone — ...

Bloomberg Peter Thiel is considering strategies to invest in Chinese startups as US venture capital firms seek a piece of the country’s fast growing technology sector, people familiar with the matter said. The conservative billionaire is weighing different approaches for investment, including raising a fund directly or through a partnership, two of the people said, asking not to be identified ...

ABU DHABI / WAM The UAE and China have agreed to enhance cooperation in all fields to higher levels and forge overall strategic partnerships, which would contribute to cementing and intensifying cooperation, boost joint development and prosperity, which is consistent with the common interest of both countries and their peoples. The two countries in a joint statement issued on the ...

HODEIDAH / WAM Since June 20, the UAE has provided 18,943 food baskets in addition to 432 boxes of mineral water to protect public health and prevent any diseases caused by non-potable water distributed to 27 districts and areas in Hodeidah. A total of 132,601 Yemenis benefitted from the assistance including, 94,715 children and up to 19,000 women. This has ...

Dubai / Emirates Business Small businesses in the UAE continue to show resilience amidst challenging economic times, underscores the two-year compounded growth rate of 100% reported by the finalists of the 2018 Gulf Capital SME Awards. A total of 97 finalists have been shortlisted this year, with 11% increase in entries compared to 2017, highlighting another banner edition of MEED’s ...

Dubai / WAM The Dubai Roads and Transport Authority (RTA), has launched the third and final phase of vehicle e-registration, enabling individuals to replace their existing vehicle registration cards with lifetime e-registration, as of August 1, this year. The RTA launched the initial phase of the service last January for government vehicles, car rental companies, and taxis. Phase II kicked off ...

Dubai / WAM The Department of Economic Development – Ajman (DED-Ajman) and the emirate’s Department of Land and Real Estate Regulation announced the signing of a new partnership agreement aimed at adopting and implementing new e-link services. The services, which are part of the ongoing ‘Single Window Project,’ will provide customers with a faster and more efficient way to apply ...