News

  Bloomberg Wall Street is betting Sprint Corp. and T-Mobile US Inc. will soon revive talks on a blockbuster merger, but a recent surge in demand for wireless assets has Sprint exploring other ways to unleash value. Sprint’s parent SoftBank Group Corp. believes the company’s vast trove of wireless spectrum, which can be used for faster 5G services, has been ...

  Bloomberg Royal Philips NV said a strong order book and resilient performance in markets including China and India would allow the Dutch health-care equipment provider meet sales targets, even as uncertainty surrounding US policy led hospitals there to delay spending. The company reiterated a full-year revenue growth target of between 4 percent and 6 percent for its health technology ...

  Bloomberg Akzo Nobel NV said it would consider PPG Industries Inc.’s new unsolicited 26.9 billion euros ($28.8 billion) takeover bid, which the US rival extended with “one last invitation” for Europe’s largest coatings company to negotiate a deal. Akzo Nobel will “carefully review and consider” the proposal, the Amsterdam-based company said in a statement on Monday. PPG earlier offered ...

  Bloomberg SLM Solutions AG has hired Lazard Ltd. to help it explore strategic options six months after General Electric Co. withdrew a 680 million-euro ($737 million) offer for the 3-D printing company, according to people familiar with the matter. The review could lead to the sale of a stake in the Luebeck, Germany-based company or even a complete takeover, ...

  ABU DHABI / WAM The total value of 1,153 hospitality projects in the six members of the Gulf Co-operation Council (GCC) exceeded US$148.4 billion (AED544.62 billion) in the first quarter of 2017, according to a new report by project research and intelligence provider BNC Network. The GCC’s hospitality industry constitutes 7 per cent of all active projects in the ...

  ABU DHABI / WAM The sixth session of the UAE-Azerbaijan Joint Economic Committee, held at the Grand Hyatt Hotel in Dubai, and co-chaired by Sultan bin Saeed Al Mansouri, Minister of Economy, and his counterpart, Shahin Mustafayev, Minister of Economic Development in Azerbaijan, concluded on a high note. Those at the committee’s meeting discussed economic co-operation and enhancing bilateral ...

  LONDON / WAM Embassy of the UAE in London has hosted a lunch banquet in honour of a delegation from the UAE Ministry of Economy and private organisations and British investors participating in the UK-GCC Public Private Partnership Conference in London, to bolster ties among the business communities in both countries. In remarks delivered at the banquet, UAE Ambassador ...

  SHARJAH / WAM Sharjah Chamber of Commerce and Industry (SCCI) has signed an agreement with Dubai Chamber of Commerce and Industry (DCCI), in its capacity as the representative of the International Certificates of Origin Council (CO), according to which COs issued by Sharjah Chamber will be awarded an international recognition. The agreement aims to allow scaling of international commercial ...

  DUBAI / Emirates Business The UAE continues to be an increasingly important destination for travellers from both China and India, according to InterContinental Hotels Group (IHG), one of the world’s leading global hotel companies. IHG’s data trends show that, the hotel market in the Emirates can expect to see an increase in inbound business from these two powerful markets ...

  Abu Dhabi / WAM Musabbah Mubarak Al Murar, Acting General Manager of Abu Dhabi City Municipality (ADM), signed two agreements with Emak Investment Group for the construction of two slipways for boats at Al Bahya and Al Sadr cities on the closing day of Cityscape 2017. He also signed a third agreement with Corner Stone Property Management LLC for building ...