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Bloomberg Inside New York’s St. Regis Hotel, debt investors were given what’s becoming a familiar pitch: a high-flying tech company with a charismatic leader but no real cash flow was asking them to lend it money. This time it was Uber Technologies Inc., the ride-hailing company that’s reshaped the taxi business around the globe. The company is seeking a $1.25 ...

Bloomberg AT&T Inc. lashed out at the US antitrust lawsuit against the company’s proposed takeover of Time Warner Inc., saying the government’s own economic expert determined the deal would raise prices for pay-TV subscribers by just 45 cents a month. The telecommunications giant derided the Justice Department’s case, saying the government’s own analysis shows the deal would cause minimal consumer ...

Bloomberg In late February, Oracle Corp. co-CEO Safra Catz met with a top Pentagon official to discuss the government’s defense strategy days before the department was set to outline how it plans to spend billions of dollars on cloud-computing services. Catz’s meeting with Deputy Secretary of Defense Patrick Shanahan, which was confirmed by a department spokesman, came as technology companies ...

SHARJAH / WAM HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union (GWU), President of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation (FDF), has announced that the theme of this year’s Emirati Women’s Day 2018, which will take place on August 28, will be, “Women on the Course of Zayed.” ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) on Wednesday announced its intention to move further downstream, as the company pivots to take full advantage of the rising demand for higher value refined and petrochemical products, particularly in the growth economies of China and Asia. Speaking at CERAWeek, a leading gathering of the energy industry, Dr. Sultan ...

TOKYO / WAM The growth on non-oil trade between the UAE and Japan to AED53.5 billion, or $14.6 billion, is a tangible proof of the privileged relations established by the two nations across the past decades, according to Sultan bin Saeed Al Mansouri, Minister of Economy. The minister made the remarks during UAE-Japan Strategic Business Forum, in presence of Japan’s ...

FUJAIRAH / WAM Total oil product stocks in the Port of Fujairah were 16.712 million barrels, up 4.6 percent on the week, after heavy distillates rebounded from last week’s record lows, according to latest data from the Fujairah Energy Data Committee, or FEDCom. Stocks of heavy distillates and residues jumped 34.3 percent on the week to 6.5 million barrels. This ...

LONDON / WAM UAE-based NMC Healthcare announced results for the year 2017, with total revenues rising from $1,220.8 million in 2016 to $1,603.4 million, up by 31.3 percent, and total net profit rising from $151.4 million in 2016 to $209.2 million last year, an increase of 38.2 percent. Adjusted net profit rose 43 per- cent from $165.2 million to $236.6 ...

LUXEMBOURG / Reuters Europe and the IMF urged Donald Trump on Wednesday to step back from the brink of a trade war, after the resignation of his economic adviser emboldened those encouraging him to push ahead with tariffs on imported steel and aluminium. The departure of Gary Cohn, seen as a bulwark against Trump’s economic nationalism, hit shares, oil and ...

Mumbai / Emirates Business In a bid to strengthen ties with overseas clients, Ras Al Khaimah Economic Zone (RAKEZ) has launched its new office in India at the strategically important Bandra Kurla Complex in Mumbai. The opening of the office, which was witnessed by His Highness Sheikh Ahmed bin Saqr Al Qasimi, RAKEZ Chairman, VIP government representatives and senior industry ...