News

Bloomberg Facebook Inc. expressed a “willingness to engage” with European Union regulators in the wake of fresh evidence showing that data on most of the social network’s 2 billion users could have been accessed improperly. Justice Commissioner Vera Jourova is in touch with Facebook “to arrange for high-level contacts in the coming days,” her spokesman Christian Wigand told reporters at ...

Bloomberg UniQure NV is getting a second chance. The Dutch biotech company is angling for a comeback in gene therapy after Glybera—its groundbreaking, $1 million treatment for a rare condition—fizzled in 2017. Now UniQure is shifting the technology to the more-promising market for hemophilia, its once-battered shares have rallied back, and the company may be a takeover target. Heightened attention ...

Bloomberg Uber Technologies Inc is appointing two new independent non-executive directors to its UK board as it continues its bid to shore up its reputation in one of its major markets. Susan Hooper was previously head of the travel division at Acromas Group, while Roger Parry is non-executive chairman of software company Oxford Metrics and polling company YouGov Plc. The ...

Bloomberg The European Union can help settle the burgeoning trade spat between the US and China, European Commission Vice Presidents Jyrki Katainen and Valdis Dombrovskis said. Rather than participate in the dispute, the EU can leverage its role as the world’s largest market to uphold the rules of international trade and push back against unilateral tariffs like the ones backed ...

Bloomberg Blackstone Group LP is in the early stages of marketing a group of select-service hotels, according to people with knowledge of the matter. A sale of about 15 US properties would be part of the ordinary course of managing a large portfolio, said one of the people, who asked not to be identified because the process is confidential. While ...

Bloomberg The Trump administration has softened a key Nafta demand for more North American content in car manufacturing—a potential olive branch on arguably the biggest sticking point as the US pushes to reach a stopgap deal this month, according to three people familiar with the talks. The US proposal would distinguish between different Nafta car parts by grouping them into ...

MANAMA / Reuters A new discovery off the coast of Bahrain is estimated to contain at least 80 billion barrels of tight oil, the kingdom’s biggest ever find, Bahrain’s oil minister said. Bahrain said it had discovered extensive tight oil and deep gas resources off the west coast of the kingdom. Independent appraisals by US-based oil consultants DeGolyer and MacNaughton ...

SHARJAH / WAM Rexton Technologies has announced that it will open the largest LED light manufacturing facility in the Middle East and North Africa (MENA) region at the Sharjah Airport International Free Zone (SAIF Zone). The organisation will also launch a state of the art laboratory that specialises in LED light technologies within the facility. The two new facilities, which ...

DUBAI / WAM Emirates Central Cooling Systems Corporation (Empower) announced that it has signed an agreement to connect its services to the Address Hotel at JBR, Marsa Dubai, with a total capacity of 6,500 Refrigeration Tonnes (RT). Empower noted that it will start delivering its district cooling services in July 2019. “We are committed to providing highly-efficient district cooling services, ...

LONDON / Reuters OPEC oil output fell in March to an 11-month low due to declining Angolan exports, Libyan outages and a further slide in Venezuelan output, a Reuters survey found, sending compliance with a supply-cutting deal to another record. The Organization of the Petroleum Exporting Countries pumped 32.19 million barrels per day last month, the survey found, down 90,000 ...