News

Bloomberg Varian Medical Systems Inc. agreed to buy Australia’s Sirtex Medical Ltd. for about $1.3 billion in a bid by the US company to add radiation medicine to its portfolio for cancer treatments. Sirtex investors will receive A$28 in cash for each share, Palo-Alto, California-based Varian said in a statement. That’s 49 percent higher than the stock’s latest closing price ...

Bloomberg Chinese billionaire Wang Jianlin’s Dalian Wanda Group Co. has put its last two overseas property developments up for sale, according to people familiar with the matter, in the latest unwinding of a decade-long overseas buying spree that put it in the cross-hairs of Chinese regulators. Wanda is seeking buyers for a hotel, office and apartment complex in Chicago and ...

ABU DHABI / WAM First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s leading and safest financial institutions, reported its financial results for the full year ended December 31, 2017. FAB delivered a resilient performance in a transitional year with a full year 2017 group net profit at AED10.92 billion ($3 billion), compared to AED11.32 ...

DUBAI / Emirates Business A buoyant GCC Bond and Sukuk market achieved an all-time high issuance of $70 billion in 2017, with sustained investor appetite expected in 2018, according to a co-authored white paper from Emirates NBD Asset Management (Dubai) and Fisch Asset Management (Zurich). The paper, titled “The GCC Fixed Income Market: Then and Now” identifies key themes in ...

DUBAI / WAM To mark Data Privacy Day, the Ministry of Finance (MoF) has emphasised the importance of protecting personal data for financial transactions, in light of the digital revolution and the increasing global trends to protect individuals from the misuse of their personal information or violation of their privacy. Younis Haji Al Khoori, Under-Secretary at MoF, highlighted that standards ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, issued Law No. 01 of 2018 on the Knowledge Dirham Fee, and Law No. 02 of 2018 about the Innovation Dirham Fee. As per Law No. 01 of 2018, the Knowledge Dirham Fee will be levied on all transactions ...

Dubai / WAM The Dubai Electricity and Water Authority (DEWA) and Dubai-based Azizi Group, reviewed ways to support joint work and the group’s future projects and expansion plans in Dubai. Saeed Mohammed Al Tayer, DEWA MD & CEO, received Mirwais Azizi, Chairman of the Board of Directors of Azizi Group, as part of DEWA’s commitment to follow up with developers, ...

Abu Dhabi / WAM The UAE Ministry of Economy (MoE), announced that it is organising a high-level delegation from the UAE to visit Malaysia and Singapore to be led by Sultan Al Mansoori, Minister of Economy from February 5-8. The visit’s agenda includes the participation in the UAE-Malaysian Business Forum in Kuala Lumpur, which will be held on February 5-6 ...

Dubai / WAM His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Minister of Finance, and President of the Dubai Health Authority (DHA), opened on Monday, the Arab Health, the largest gathering of healthcare and trade professionals in the MENA, at the Dubai International Convention and Exhibition Centre. The 2018 edition of the event is expected ...

Dubai / WAM The UAE outperformed all other Gulf and Arab countries and was ranked 28th in the world in the Ocean Health Index (OHI), a tailorable marine assessment framework to comprehensively and quantitatively evaluate ocean health. The UAE scored 77 points out of 100, although the global average of the Ocean Health Index requires only 70 points. The Ocean ...