News

Abu Dhabi / WAM Dawaii (Arabic for “medicine”) Campaign has been started at the SEHA facilities to increase public awareness about taking medication while fasting, in accordance with their doctor’s and pharmacist’s instructions during the entire month of Ramadan. Regarding the programme, Mohammed Hassan Al Zaabi, Chief Operating Officer at SEHA, said, “We congratulate you on the holy month of ...

Dubai / WAM In cooperation with Dubai Future Foundation (DFF), Dubai Airport Free Zone Authority (DAFZA) has developed two initiatives with the aim of placing Dubai 10 years ahead of other leading cities under Dubai 10X initiative. The first of them, ‘Dubai Blink’, is the world’s first B2B smart commerce platform while the second is the ‘Free Zone Exchange – ...

Bloomberg The price of crude in rubles has surged to an all-time high, but Russian oil producers will miss out on record first-quarter profit because of a rising tax burden. Investors in Lukoil PJSC or Rosneft PJSC — which is due to publish earnings on May 14 — will probably have to wait until later in the year to see ...

Bloomberg The business model that felled what was once the world’s biggest renewable energy company is alive and making money in Britain. Listed funds using the yieldco model are outperforming the FTSE All-Share Index on a risk-adjusted return basis, according to research from Imperial College. “Yieldco” had almost become a dirty word after SunEdison Inc.’s bankruptcy in 2016. The strategy ...

Bloomberg Bahrain has enough foreign reserves to maintain its currency’s peg to the US dollar, central bank governor Rasheed Al-Maraj said, as higher oil prices help the island-kingdom ease pressure on its strained public finances. Al-Maraj, speaking in an interview in the capital Manama, said he wasn’t aware of any current talks between Bahrain and its Gulf Arab allies over ...

Bloomberg Another darling of the Trump administration is poised to gain from the Iran deal breakup as oil surges: Natural gas exports. With the move to curb Iran’s oil output encouraging more shale drilling, prices for natural gas produced alongside crude in West Texas could crater, falling to zero some days, according to Tudor Pickering Holt & Co. Already, the ...

Bloomberg Ant Financial, the Chinese payments giant controlled by Jack Ma, is expected to close a fundraising of at least $10 billion in the next few days, attracting Carlyle Group and the Canada Pension Plan Investment Board as first-time investors, according to people familiar with the matter. The Hangzhou-based company is said to be valued at about $150 billion in ...

Bloomberg Fullerton Healthcare Corp., the medical service provider that shelved plans for a Singapore initial public offering in 2016, is now aiming to sell shares in the US, people with knowledge of the matter said. The Singapore-based company is starting preparations for a US IPO that could take place as soon as this year, the people said, asking not to ...

Bloomberg Didi Chuxing, China’s biggest ride-hailing startup, will suspend its carpooling service for a week, citing an incident in the central city of Zhengzhou. The company will review operations of the Didi Hitch service from May 12, Didi said on its microblog. State media outlet CCTV has reported that a driver on the platform is suspected of killing a passenger ...

Bloomberg The world’s wealthiest family has just bestowed billionaire status on two of India’s most feted tech entrepreneurs. And wiped more than $4 billion from their own fortunes. Walmart Inc., controlled by the Walton family, led a group that bought a 77 percent stake in Flipkart Online Services Pvt. The deal valued the Indian company at about $21 billion. Flipkart ...