News

Dubai / Emirates Business The total value of 707 healthcare projects exceeded AED 223.50 billion ($60.9 billion) in January 2018, according to the latest GCC Construction Intelligence report issued by BNC Network, the largest and most comprehensive construction intelligence platform in the Middle East and North Africa (MENA) region. Of these, 445 projects worth $51.9 billion (AED190.47 billion) are hospital ...

Dubai / WAM The Federal National Council’s Technology, Energy and Mineral Resources Affairs Committee continued discussing the policy of the Federal Electricity and Water Authority (FEWA), at its meeting on Sunday, chaired by Mohammed Ali Al Kamali, Chairman of the Committee, at the FNC General Secretariat in Dubai. The committee reviewed FEWA’s policy based upon three concerns: the authority’s strategic ...

Dubai / Emirates Business Gulf Navigation Holding PJSC (GulfNav) announces that it is in discussion to acquire a majority stake in Atlantic Navigation Holdings (Singapore) Limited (‘Atlantic’). Atlantic is an integrated offshore supply operation engaged in the provisioning of marine logistic services, ship repair, fabrication and other marine services. We operate out of the UAE serving primarily customers in the ...

Bloomberg Europe is approaching the next stop in its global market-opening drive aimed at countering US President Donald Trump’s protectionist tilt. Top officials from the European Union will meet with the Mercosur group of Argentina, Brazil, Paraguay and Uruguay on January 30 in Brussels to gauge the prospects for a free-trade deal that would follow groundbreaking commercial pacts with Japan ...

Bloomberg The president of the United Auto Workers denied that contracts with Fiat Chrysler Automobiles NV were tainted by a scheme in which top labour negotiators were enriching themselves from a union training fund. In a letter to UAW members, President Dennis Williams said Fiat Chrysler’s former top labour negotiator “by his own admission is a crook and a liar.” ...

Bloomberg Google has a new sister: Parent company Alphabet Inc. announced the formation of a new subsidiary company, called Chronicle, focussed on cybersecurity. Chronicle was formed in 2016 inside of X, Alphabet’s experimental lab that has produced its driverless car effort, Waymo, and projects on drones, internet connectivity and the Google Glass headset. In the announcement, the new company stressed ...

Bloomberg Donald Trump has criticised the way UK Prime Minister Theresa May is negotiating Brexit, saying he would take a “tougher” line with the European Union in the talks. Only three days after putting on a show of unity with May at the World Economic Forum in Davos, Trump risked reopening the wounds in the so-called “special relationship” between Britain ...

Bloomberg Just over four years since Michael Dell took his namesake PC company private, the billionaire is considering taking Dell Technologies public again in a move to help it raise cash and reduce its substantial debt. An initial public offering would undo one of the biggest leveraged buyouts the tech industry has ever seen. The board is meeting later this ...

Bloomberg Saudi Aramco’s chief executive said the most important tax paid by the state-owned energy giant will fluctuate with the price of oil, a significant move ahead of the company’s initial public offering this year. Adjusting the 20 percent royalty on oil revenue Aramco currently pays would help the kingdom to raise extra money if prices climb. While not unusual ...

Bloomberg US natural gas soothsayers are at a stalemate. Bulls say more arctic air may vault futures above $4 for the first time since 2014. Bears see the February contract expiration and a warm spell dragging them lower. Welcome to the suddenly uncertain world of fuel trading. Eight of 17 traders and analysts surveyed by Bloomberg News predicted prices that ...