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Bloomberg Dropbox Inc. aims to raise as much as $648 million in its US initial public offering. The file-sharing company is marketing 36 million shares of Class A common stock for $16 to $18 apiece, according to a filing with the US Securities and Exchange Commission on Monday. At the high end of that range, Dropbox would have a market ...

Bloomberg The European Union’s trade chief dismissed US President Donald Trump’s threat to impose tariffs on car imports, and vowed to “stand up to bullies,” adding to signs that a widening trans-Atlantic rift over protectionism could escalate into an all-out trade war. “In some places, trade has been blamed for the pains of globalization, others use it as a scapegoat ...

Bloomberg Nafta negotiations are weighing on companies’ investment plans and both Canada and the US are hoping to make rapid progress in talks, according to Canadian Finance Minister Bill Morneau. “There are some businesses that are being cautious in investments because there is an expectation that Nafta could be slightly different tomorrow than it was yesterday,” Morneau said . “What’s ...

Bloomberg A former prime minister of Finland once blamed Apple Inc. for torpedoing two of his country’s biggest industries—mobile phones and paper mills. Now Stora Enso Oyj, one of Europe’s largest paper and packaging makers, has become a key supplier to the iPhone maker, according to documents published. The tie-up wasn’t always on the cards. In 2014, then prime minister ...

Bloomberg BMW AG would like to start offering up the back seat on motorbikes and scooters to get around congested cities—if the issue of helmets can be solved. “This is definitely an option, but we haven’t found the solution for the second helmet yet,” Peter Schwarzenbauer, who heads BMW’s Mini, Rolls-Royce and motorcycle brands, said at the Geneva International Motor ...

ABU DHABi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Paolo Gentiloni, Prime Minister of Italy, witnessed the signing of two historic agreements awarding Italy’s multinational oil and gas company Eni stakes in two of Abu Dhabi’s offshore concession areas. Under the terms ...

Dubai / Emirates Business A new group of ‘Hybrid’ cities recorded by JLL as having clear attributes of either ‘Emerging World Cities’ or ‘New world Cities’, has placed Dubai among the world’s top destinations for FDI in the real estate market. In a new report by JLL titled, World Cities: Mapping the Pathways to Success, ’Hybrid’ cities are best epitomised ...

DUBAI / Emirates Business Azizi Developments, one of the leading private developers in the UAE, has announced that it will start accepting the prequalification applications for AED20 billion ($5.5 billion) worth of contract tenders for its projects in Dubai in 2018. This is in addition to the developer’s existing pipeline of projects that are in various stages of development across ...

ABU DHABI / WAM Companies trading on the UAE two main bourses gained AED5.5 billion in market cap at the end of Sunday session, driven by selective purchases that targeted blue chips on the real estate and banking sectors. Starting the week in the green, the General Index of the Dubai Financial Market moved up 0.97 percent to 3188 points, ...

Dubai / WAM Takaful Emarat announced that net profit for the twelve-month period ended December 31, 2017, was AED18.8 million, up 25 percent from the company’s 2016 net profit of AED15 million. Mohammed Al Hawari, Executive Board member and Managing Director of Takaful Emarat, said, “During the course of 2017, we maintained our focus on growing the business in tandem ...