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Bloomberg BlackBerry Ltd., seeking ways to stem revenue declines, is dusting off its old patents and asking other companies to pay up for using technology BlackBerry claims it invented years ago. The latest skirmish broke out, when BlackBerry sued Facebook Inc in federal court in Los Angeles, claiming the social media giant has built swaths of its empire on messaging ...

Bloomberg UK pension liabilities increased by 7.6 trillion pounds in the five years through 2015, government figures published on Wednesday show. They stood at 7.6 trillion pounds, with the state pension—a universal entitlement paid by the government—accounting for more than half the amount, the Office for National Statistics said. There were more than 2 trillion pounds of entitlements linked to ...

Bloomberg President Donald Trump’s threat that he could tax cars imported from Europe was premised on the idea that German automakers pour Benzes and Bimmers into the US while making it “impossible” for American cars to sell there. General Motors Co., America’s largest carmaker, largely bailed from Europe last year for reasons that had less to do with protectionism than ...

ABU DHABI / WAM The UAE Central Bank has announced that the money supply aggregate M1 increased 1.1%, from AED492.4 billion at the end of December 2017 to AED498 billion at the end of January 2018. In a statement, the bank said, “The money supply aggregate M2 increased by 0.1%, from AED1276.2 billion at the end of December 2017 to ...

Abu DHABI / Agencies Etisalat, the biggest telecommunications company in the United Arab Emirates, is seeking to buy back stock valued at as much as $2 billion. The shares climbed. The board of Emirates Telecommunications Group, also known as Etisalat, recommended purchasing up to five percent of the phone operator’s paid-up capital, or 434.8 million shares, the Abu Dhabi-based company ...

DUBAI / WAM Members of the Dubai Internet City (DIC) community have collectively attracted AED7.8 billion ($2.12 billion) in funding since its launch, the largest technology business hub in the region announced on Tuesday. The impressive figure bears testimony to Dubai’s success in attracting the best and brightest businesses, making the emirate one of the main drivers of technological innovation ...

ABU DHABI / WAM Ali Saeed bin Harmel Al Dhaheri, Chairman of the Board of National Takaful Company (Watania) said that the company has achieved 36 percent year on year growth in gross contribution, making a net profit of AED7.6 million compared to AED400,000 in 2016. Speaking on the announcement, Al Dhaheri said, “The company has 3 main business verticals ...

ABU DHABI / WAM Emirates Global Aluminium (EGA) has signed a Memorandum of Understanding with Abu Dhabi Ports, to work together to develop opportunities for Abu Dhabi Ports to upgrade ports, logistics infrastructure and services abroad used by EGA to load raw materials destined for the UAE. The agreement could lead to new international business opportunities for Abu Dhabi Ports, ...

Bloomberg Air Arabia PJSC’s expansion could see the biggest discount carrier in the Persian Gulf and North Africa order 100 narrow-body planes worth $11 billion at list prices before the end of the year. The Sharjah, United Arab Emirates-based airline hasn’t yet reached a decision but the figure is “probably the right number,” Chief Executive Officer Adel Ali said in ...

RAS AL KHAIMAH / WAM Julphar, one of the largest pharmaceutical manufacturers in the Middle East and Africa, recorded sales of AED1.3 billion for the year ending December 31, 2017, despite the challenging and rapidly changing market environment. The Gulf Pharmaceutical Industries Manufacturers reviewed non-audited preliminary financial results for 2017 and forecasts for 2018, following its Board of Directors’ meeting, ...