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Bloomberg PT Bukalapak.com became a billion-dollar startup by focussing on the Indonesian farmers and small-time merchants that bigger rivals such as PT Tokopedia neglected. Now it wants to buy its way onto their turf. Bukalapak, which earned unicorn status with funding from 500 Startups among others, has set up a mergers and acquisition team to identify startups that will help ...

London / Reuters European Union regulators urged banks, investors and customers to take “timely action” to avoid disruption to cross-border derivatives and insurance contracts caused by Brexit. Britain leaves the EU in March 2019 and a “standstill” transition deal until the end of 2020 agreed last month won’t be formally ratified until October or later. “Contingency planning should consider timely ...

FRANKFURT / Reuters Springer Nature, the publisher of science magazines Nature and Scientific American, is planning to raise 1.2 billion euros ($1.5 billion) by selling new shares in an initial public offering (IPO), also providing an oppo-rtunity for its private equity owner to cash in. While buyout group BC Partners will sell some of its shares in the listing, German ...

Bloomberg Canada’s export financing agency is giving a vote of confidence to the nation’s economy even in the face of growing trade tensions, raising its projections for sales abroad in its semi-annual forecast report. Export Development Canada predicts the export of goods will grow 6 percent this year, up from a prediction of 4 percent growth six mon- ths ago, ...

London / Reuters Avast, the world’s largest consumer antivirus supplier by customers, said it will apply to list its shares on the London Stock Exchange in what could be a blockbuster float expected to value the company at around $4 billion. The listing, which is anticipated in early May, will see a free float of at least 25 percent of ...

Bloomberg The UK property market is wilting from lack of demand, leaving home prices unchanged for a second month in March. The Royal Institution of Chartered Surveyors said its gauge of prices remained at zero, with declines in London and the southeast being offset by gains in the East Midlands, Northern Ireland and Wales. Years of rampant price gains have ...

Bloomberg As recently as January, trading Europe was a pretty straightforward prospect as the euro gained, stocks joined the global rally, and credit spreads ground ever-tighter. What a difference a few months makes. The best year in a decade in terms of euro-area growth has given way to a series of surprisingly weak economic readings across the 19-nation bloc. The ...

DUBAI / Emirates Business More than 1 million Tons of Carbon Dioxide will be abated by 2030 and 1.7 TWh of electricity will be saved by the same year in Dubai, according to the new targets revealed by Dubai’s Etihad Energy Services Company, Etihad ESCO, at the 4th annual RetrofitTech Dubai Summit & Awards which began on Wednesday. The event ...

Dubai / Emirates Business Mashreq Bank, the UAE’s leading financial institution, has established a $1 billion multi-currency Certificate of Deposit Programme (CD programme) in Hong Kong. The CD programme, which aims to provide access to new liquidity pools in Asia-Pacific, is offered in multiple currencies. The launch of the programme highlights Mashreq’s growth in Asian markets given the positive momentum ...

Dubai / Emirates Business Emirates SkyCargo, the world’s largest international cargo airline, has launched Emirates AOG – a new airfreight product designed for transporting aircraft parts quickly across the globe. Every day, spare parts are airfreighted at short notice to help repair aircraft that have been stranded due to technical reasons and lack of availability of the right spare part. ...