News

Bloomberg Walt Disney Co.’s Robert Iger said he’s confident he can clinch a $52.4 billion deal for 21st Century Fox’s assets, despite the prospect of a bidding war against Comcast Corp. Disney’s chairman and chief executive officer said it’s “way too early” to speculate about the possibility of an auction for the assets his company agreed to buy in December. ...

Bloomberg An activist firm representing Tesla Inc. shareholders has excoriated the electric-car maker, claiming that it’s veered off the path to profit and urging a major overhaul of the Elon Musk-led board. CtW Investment Group, working with union pension funds that are Tesla investors managing more than $250 billion, opposes the re-election of three board members who are up for ...

Bloomberg Jazz Pharmaceuticals Plc reached a tentative agreement with the Justice Department to settle a probe over its donations to charities that help people afford drugs, part of a long-running US investigation into drugmaker ties to such groups. In a securities filing, the maker of the costly narcolepsy drug Xyrem said it reached an agreement in principle in April for ...

Bloomberg AT&T Inc confirmed that it hired a firm established by Donald Trump lawyer Michael Cohen, saying it was seeking “insights” around the time the new administration was inaugurated last year. The relationship came to light, when AT&T was cited by attorney Michael Avenatti as one of the parties that made payments to Cohen’s firm. Larry Solomon, a spokesman for ...

Bloomberg President Donald Trump said the US will withdraw from the landmark 2015 accord to curb Iran’s nuclear program and that he would reinstate financial sanctions on the Islamic Republic, casting the Mideast into a new period of uncertainty. “The fact is this was a horrible one-sided deal that should have never ever been made,” Trump said at the White ...

ABU DHABI / WAM The Abu Dhabi City Municipality (ADM) completed the e-link project with Abu Dhabi Judicial Department — as part of both government institutions efforts to leverage performance, improve customer services, facilitate procedures and enhance communication channels. Under the project, official transactions will be based on a centralised digital system for both parties, as of March 2018. It ...

Dubai / Emirates Business Mashreq Bank, the UAE’s leading financial institution, on Tuesday announced that it will enter the non-bank financial institution (NBFI) space in India through an engagement with IL&FS Financial Services Ltd to offer external commercial borrowings (ECB) in Indian Rupees. Through the IL&FS Group, Mashreq will serve the Indian market across various verticals including financial services, power, ...

DUBAI / Emirates Business The Middle East and Africa’s largest international trade fair for beauty products, hair, fragrances, and wellbeing opened on Tuesday, with a new record in exhibitor numbers and exhibition space covered in its 23rd edition. Beautyworld Middle East is a magnet for retailers, distributors, and beauty professionals looking for the latest inspirations in beauty and wellbeing. The ...

Abu Dhabi / WAM The UAE and Belarus have signed multiple cooperation agreements in media, disaster management, facilitation of customs procedures, and health sector on the eve of 4th joint Emirati-Belarusian committee ministerial meeting in Abu Dhabi on Tuesday. Dr Anwar bin Mohammed Gargash, Minister of State for Foreign Affairs, led the UAE side, and Belarus was represented by its ...

Abu Dhabi / WAM Ibrahim Mahmoud Al Mahmoud, First Vice Chairman of the Board of Directors of Abu Dhabi Chamber of Commerce, and Mohammed Dansanta Rimi, Ambassador of Nigeria to the UAE, have discussed ways of promoting mutual cooperation between companies and institutions from Abu Dhabi and Nigeria. During the meeting, Al Mahmood said that the chamber aims to promote ...