News

Bloomberg Comcast Corp. formalised its 22 billion pound ($30.7 billion) bid for Sky Plc, throwing down the gauntlet to Rupert Murdoch’s 21st Century Fox Inc. and Walt Disney Co as they vie for Britain’s largest pay-TV broadcaster. Sky’s independent board members welcomed the offer and said they’re withdrawing their recommendation that shareholders accept the Fox proposal. Comcast is offering 12.50 ...

Bloomberg A US House committee has begun a new investigation into allegations of overseas emissions cheating by Volkswagen AG and was seeking testimony from the automaker’s chief executive officer Herbert Diess. In a letter, House Science, Space, and Technology Committee Chairman Lamar Smith, a Texas Republican, said the committee was investigating reports that Volkswagen “continues to circumvent global emissions requirements” ...

Bloomberg Britons were only beginning to use steam engines, canals and factories the last time the UK experienced such a poor decade of productivity. Total factory productivity since 2007 was the worst since the late eighteenth century, around the time of the industrial revolution, according to a Bank of England blog post on Wednesday. Average productivity growth was negative for ...

Bloomberg Twitter Inc.’s push into live video and more personalised content is finally starting to pay off, boosting revenue and profit more than projected in the first quarter by luring users and advertisers. The shares rose. Sales jumped 21 percent, the most in two years, to $664.9 million, Twitter said on Wednesday in a statement. That surpassed the average analysts’ ...

ABU DHABI / WAM The Committee for Goods and Materials Subject to Import and Export Control started a three-day meeting yesterday with a delegation from the government of the Democratic Republic of Congo (DR Congo), to discuss the means of strengthening their cooperation in regulating the gold trade, according to the best international practices. The meeting was headed by Talal ...

ABU DHABI / WAM UAE’s space programs, including the planned launch of the first Arab probe to Mars by 2021, known as Emirates Mars Mission, are beacons of hope for Arabs to blaze a trail and achieve distinction in this domain, according to Dr Farouk El-Baz, Director of the Centre for Remote Sensing at Boston University, and Member of the ...

ABU DHABI / WAM Masdar and the Costa Rican Electricity Institute (Instituto Costarricense de Electricidad, or ICE) have announced a collaboration to promote renewable energy development. Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, and Eugenia Gutierrez, Member of the Board and Director of ICE, signed a Memorandum of Understanding to share technical knowledge and project experience. The agreement ...

ABU DHABI / WAM Mubadala Investment Company and Mubadala Infrastructure Partners (MIP) agreed to sell their combined equity interest of 50 percent in Abu Dhabi Terminals (ADT) to the remaining shareholder, Abu Dhabi Ports, for an undisclosed amount. ADT is the first commercial port operator in the Emirate of Abu Dhabi. Its core business is to operate and manage a ...

ABU DHABI / WAM Shuaa Capital has announced the completion of its acquisition of Integrated Securities (IS) and Integrated Capital (IC), following final approval by the Emirates Securities and Commodities Authority and the UAE Central Bank. Shuaa’s current multi-pronged business strategy — which came into effect in early 2017 — helped it return to a path of sustained long-term profitability, ...

ABU DHABI / WAM The UAE Central Bank announced that the money supply aggregate M1 rose 0.2 percent, from AED509.7 billion at the end of February 2018 to AED510.6 billion at the end of March 2018. In a statement, the bank said, “The money supply aggregate M2 increased by 0.7 percent, from AED1284.9 billion at the end of February 2018 ...