Bloomberg Marvell Technology Group, a chipmaker looking to build itself a future outside of a declining area of the market, has agreed to buy Cavium Inc. for about $6 billion. The buyer will pay $40 in cash plus 2.1757 Marvell common shares for each Cavium share, according to a statement Monday. Marvell plans to use $1.75 billion in debt financing ...
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Bloomberg London’s iconic red double-decker buses will soon run on a biofuel partially made from old coffee grounds. The fuel will be supplied by a demonstration project set up by Bio-bean Ltd., a London-based company that joined with Royal Dutch Shell Plc on the initiative. It will produce 6,000 litres a year of the fuel. “It’s got a high oil ...
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Ajman / Emirates Business With the UAE’s Internet of Things (IoT) market tripling over the next two years, 2018 will be the vital year for organisations to undergo digital transformation, industry experts said on the sidelines of the Smart Life exhibition, sponsored by Ajman Bank. The UAE’s IoT market is set to more than triple to $35 billion by 2019, ...
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ABU DHABI / Reuters The distribution unit of Abu Dhabi National Oil Co (ADNOC) could command a valuation of between $11 billion and $14 billion, according to fund managers who have seen research reports on the firm before an initial public offer of its shares. The research notes were prepared by analysts at banks which are advising ADNOC on the ...
Read More »RAS AL KHAIMAH / WAM Julphar Gulf Pharmaceutical Industries announced on Sunday revenues of as much as AED992 million for the first three quarters of the year 2017. The company posted an AED86 million net profit for the period. “Overall, the MENA markets remained challenging for the pharmaceutical industry. Julphar’s management has undertaken cost-saving initiatives and new projects to optimise ...
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DUBAI / WAM Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD, on Sunday rang the market-opening bell to celebrate the listing of a $750 million conventional bond on Nasdaq Dubai. The issuance underlines Emirates NBD’s commitment to growth and expansion, building on recent developments that include increasing its international branch presence, enhancing its digital strategy and ...
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ABU DHABI / WAM Abu Dhabi’s Corniche, Al Bateen and Ladies Beaches have attracted 2,577,998 visitors since the begin- ning of the year, the Abu Dhabi City Municipality (ADM) said. In a statement, ADM said that it pays continuous attention to upgrading the emirate’s beaches on a regular basis to provide superior services for the community. This reflects the municipality’s ...
Read More »ABU DHABI / Emirates Business Around nine million Indians are expected to travel to the GCC by 2021, according to the latest figures from Colliers International, as destinations throughout the Middle East prepare to showcase their latest offering at Arabian Travel Market, which will be held at Dubai World Trade Centre from April 22-25, 2018. Reports from the UNWTO suggest ...
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ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, attended the wedding reception of Sheikh Tahnoon bin Saeed bin Saif bin Mohamed Al Nahyan to the daughter of His Highness Dr Sheikh Sultan bin Khalifa Al Nahyan, Adviser to the UAE President, at ...
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Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, has stated that achieving the well-being and happiness of the UAE’s people is a top priority. His Highness’ remarks came during a Dubai Executive Council meeting held today, with H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown ...
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