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Bloomberg Bain Capital LP said it is prepared to spend about $900 million or more to acquire digital advertising companies in Asia as it revamps Japan’s No. 3 agency to better compete with rivals like Dentsu Inc. The Boston-based private equity firm acquired 87 percent of shares in Asatsu-DK Inc., in a tender offer, the companies said in statements. Bain ...

Bloomberg Facebook Inc. co-founder Eduardo Saverin is participating in a $40 million investment in Mswipe Technologies, his first foray into the India startup market. Saverin’s B Capital Group and DSG Consumer Partners are leading the funding round, which also includes Ratan Tata’s UC-RNT Fund, Matrix Partners India and Falcon Edge Capital. Saverin will join the company’s board and work with ...

Bloomberg Vijay Mallya is becoming something of a fixture in London courts. As the tycoon fights his extradition back to India on fraud charges, another set of lawyers is trying to overturn a $1.5 billion worldwide freezing order against him across town. In the meantime, Mallya has to get by on 5,000 pounds a week, according to court documents. A ...

Bloomberg Abu Dhabi National Oil Co. plans to raise as much as AED3.31 billion ($902 million) from the initial public offering (IPO) of its fuel-retailing unit after lowering the top end of the offer price and deciding to only sell a 10 percent stake. The crude producer reduced the price range to AED2.35 dirhams to AED2.65 for the shares of ...

Abu Dhabi / WAM UAE stock markets closed on a high note Wednesday, defying a winning streak on profit booking by a number of investors, with the market value of trading companies posting decent gains of AED4.4 billion by the end of sessions. The realty, banking and investment sectors were the main driver for the positive sentiments, with investment firms ...

DUBAI / WAM According to the 2017 Global Investment Report published by the United Nation’s Council on Trade and Development (UNCTAD), the UAE is the 11th largest FDI recipient in Asia. Its main investors are the UK, Japan and Hong Kong. In 2016, the UAE attracted $8.9 billion, a 1.7 percent increase on 2015, with the political and economic stability ...

ABU DHABI / WAM UAE companies are using best-in-class technologies, and they have a very good presence in the US market, buying gas, producing petrochemicals and creating job opportunities, said Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry. The minister made the statements in a joint news conference Wednesday with US Secretary of Energy Rick Perry ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, launched the UAE’s first Astronaut programme dedicated to selecting and training four Emirati Astronauts on various space missions so they can head to the International Space Station within the next five years. His Highness said, “On this day, a ...

Abu Dhabi / 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), on Wednesday officially inaugurated Danat Al Emarat Hospital for Women and Children in Abu Dhabi, part of United Eastern Medical Services (UEMedical). After unveiling the memorial ...

Dubai / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, announced on Wednesday the launch of the ‘Day for Dubai’ initiative. The initiative aims to both solidify social responsibility amongst its citizens, and reinforce the spirit of volunteerism. It encourages every resident to share the gift of their ...