News

  Bloomberg Samsung BioLogics Co., an arm of South Korea’s biggest conglomerate, said it is in negotiations to manufacture drugs for more than 15 international pharmaceutical companies as it tries to expand in the growing industry for complex biologic medicines. The talks mostly involve US and European firms, Chief Executive Officer Kim Tae-han said in an April 19 interview at ...

  Bloomberg China should open up its services sector to ease trade tensions with the US and bolster global trade, according to a senior official from the International Monetary Fund. The medical, health, legal and financial services sectors are among areas that could be liberalized, Changyong Rhee, the Asia-Pacific director at the IMF, said in an interview at a gathering ...

  Bloomberg US President Donald Trump’s plan to upgrade the nation’s roads, ports and bridges will drive demand for steel and support iron ore prices, Australia’s Finance Minister Mathias Cormann said. “The US and the Trump administration has put out a very ambitious infrastructure investment program” and the steel will have to come from somewhere, Cormann said in an interview ...

  Bloomberg After almost three years of booming health-care dealmaking in the US, 2017 is off to a slow start. Pharmaceutical and biotech acquisitions totaled $44 billion last quarter, down 13 percent from a year earlier, and 35 percent below the first quarter of 2015, according to data compiled by Bloomberg. And exchange-traded funds, a good indicator of investors’ appetite ...

  Bloomberg Central and eastern Europe has long been considered a relatively cheap manufacturing hub to make sophisticated products like cars and electronics goods at a fraction of what it would cost in the West. Accelerating salary growth may now be changing that perception. Average nominal wages rose 10.7 percent in Hungary in February from a year ago, the most ...

  Bloomberg Euro-area economic momentum accelerated to its fastest pace in six years, with France unexpectedly outperforming Germany in a strong start to the second quarter that suggests the recovery is broadening. France’s composite Purchasing Managers’ Index unexpectedly advanced to a six-year high of 57.4 in April, putting it above Germany’s for the first time since 2012, according IHS Markit ...

  Bloomberg Waymo says it’s uncovered new evidence that Uber Technologies Inc. took and copied its trade secrets and urged a judge to bar the head of the ride-hailing company’s driverless car program from continuing to work on the project. Alphabet Inc.’s Waymo made the request as a federal judge weighs whether to issue a court order that may impede ...

  Bloomberg Play, Poland’s fastest growing mobile provider, may soon announce an initial public offering that would give it a multibillion-dollar valuation. The Warsaw-based company, which already serves about 14 million customers, is reviewing options to generate further growth, according to a filing on the Luxembourg Stock Exchange Friday. One option is an IPO, the company said in the filing. ...

  ABU DHABI / WAM Mubadala Capital, the financial investment arm of Mubadala Development Company, on Thursday announced a transaction with Ardian, the independent private investment company. Ardian has committed US$2.5 billion to the transaction through a secondary/primary structure. The secondary component involves Ardian acquiring an interest in an existing Mubadala Capital managed private equity portfolio. The primary component involves ...

  Ras Al Khaimah / WAM Foreign trade of the Emirate of Ras Al Khaimah grew by 11.8 percent in 2016 compared to 2015, according to a report published by the Studies and Commercial Cooperation Department at the RAK Chamber, based on data from the Customs Department. Dr Ahmed Rashed Al Shemaili, Assistant Director-General of Commercial Service and Business Development Sector ...