News

Bloomberg Just as most people are packing up for the holidays, dealmakers across the world are rushing to finish up a slew of transactions in industries ranging from consumer to telecom to health care. Companies have announced about $361 billion of mergers and acquisitions this month, making it the busiest December in at least 12 years, according to data compiled ...

Bloomberg Yandex NV, Russia’s largest search engine, bought local food-delivery firm Foodfox to expand its tie-up with Uber Technologies Inc. in the country, according to a statement on Monday. Uber agreed in July to merge its business in Russia and CIS with Yandex into a $3.7 billion joint venture to be controlled by the Russian company, as it battles across ...

Bloomberg Barney Harford, the former chief executive officer of online travel site Orbitz, has been named chief operating officer at Uber Technologies Inc., making him the second-highest ranking executive at the ride-hailing company. Harford, who sits on the board of airline company United Continental Holdings Inc., will oversee global ride-hailing operations, marketing, customer support, and the company’s food-delivery business. It’s ...

Bloomberg Facebook Inc. signed a multiyear licensing deal that lets the social network carry songs and artists from the world’s biggest record label, Universal Music Group, across its platforms. The deal solves a long-running dispute, with Facebook agreeing to compensate the company and artists including Taylor Swift when users post videos that include copyrighted material. The accord includes Facebook, Instagram ...

DUBAi / Emirates Business Ahmed Mahboob Musabih, Director of Dubai Customs, received Japan’s Consul-General in Dubai Akima Umezawa, where they discussed reinforcing mutual cooperation to enhance trade and customs ties between the United Arab Emirates and Japan. Welcoming the Consul-General of Japan, Ahmed Mahboob Musabih underscored Dubai Customs’ commitment to constant coordination with Japanese diplomatic corps to boost trade between ...

ABU DHABI / WAM The interest rates charged by the Emirates Inter-Bank Offered Rate (EIBOR) have continued their impressive increase since the beginning of the year, with EIBOR set for one-month period posting a significant rise of 19 percent over the past two months, surging to 156 points on December 24 from 131 points in early November, according to UAE ...

AJMAN / WAM HH Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, has approved the general budget of the Ajman Government for the 2018 fiscal year. He issued Emiri Decree No. 27 of 2017 on adopting the bud-get, with expenses totalling AED1.367 billion, 16 percent higher than the 2017 budget. HH Sheikh Ammar bin Humaid ...

DUBAI / WAM First Abu Dhabi Bank (FAB) has been named the UAE Asset Manager of the Year by the Global Investor Group. FAB representatives received the award during the MENA Asset Management and Trading Summit held in Dubai. Jointly organised by Global Investor Group and Futures & Options World (FOW), the MENA Asset Management and Trading Summit brought together ...

DUBAI / WAM The Dubai Health Authority (DHA) has called on individual sponsors and company owners in Dubai to renew health insurance of their employees and dependents to avoid any fines. Dr Haidar Al Yousef, Director of the Health Funding Department at the DHA, said that sponsors and company owners who violate the Dubai Insurance Law No. 06 of 2017 ...

ABU DHABI / WAM The Abu Dhabi City Municipality (ADM) has announced the completion of a comprehensive project involving extensive maintenance infrastructure works at Al Wathba, Zayed City and Musaffah covering rehabilitation of roads, greens, lighting & irrigation networks, and pavements. The project is part of the overall maintenance plan aimed at upgrading and renovating the infrastructural components as well ...