News

  Bloomberg Verizon Communications Inc. is considering merger possibilities to reset the course of the company given the fast-changing structure of the industry, and would be open to talks with Comcast Corp., Walt Disney Co. or CBS Corp., said Chief Executive Officer Lowell McAdam. Verizon, the largest US wireless carrier, is seeking new sources of growth as the mobile-phone business ...

  Bloomberg European car sales in March rose to their highest level for the month as Fiat Chrysler Automobiles NV and Renault SA took advantage of a solid economy to lure more buyers. Benefiting from extra working days due to the Easter holiday in April this year, industrywide registrations climbed 11 percent to 1.94 million vehicles last month, the Brussels-based ...

Bloomberg Akzo Nobel NV, battling an unwanted $24 billion approach from PPG Industries Inc., will carve out its chemicals division and return 1.6 billion euros ($1.7 billion) to shareholders in a move Chief Executive Officer Ton Buechner said is more profitable than a takeover of the centuries-old paintmaker. The separation of chemicals will be carried out within 12 months and ...

  ABU DHABI / WAM Dr Sultan Ahmed Al Jaber, UAE Minister of State, ADNOC Group CEO and Chairman of the UAE’s National Media Council, on Wednesday shared details of ADNOC’s 2030 strategy, which will deliver smart growth and long-term value and profitability, with leading local and regional media. Dr Al Jaber was speaking at the third GCC Petroleum Media ...

  Abu Dhabi / Emirates Business Abu Dhabi Fund for Development (ADFD) announced a contribution of AED330 million (US$90 million) to implement development projects and programs in key sectors in Somalia, particularly infrastructure and transport. The contribution underpins efforts to improve public services, create new job opportunities and ensure stability and social development. Moreover, the AED330 million aims to help ...

  DUBAI / Emirates Business Imdaad, the GCC’s leading integrated facilities management (FM) company based in Dubai, recently entered into a three-year-agreement with Emarat, one of the largest suppliers of petroleum products in the UAE, to deliver innovative, sustainable, and integrated general waste collection services. The scope of the contract includes Emarat’s 47 stations, atrium building, head office, central workshop, ...

  Bloomberg Businesses in Singapore are bracing for higher costs in a country that’s already among the world’s most expensive to live in. From a 30 percent increase in water prices to higher diesel costs to a looming carbon tax, manufacturers are being forced to adjust their operations to remain competitive in an economy that’s only recently recovering from an ...

  BEIJING / AP Top diplomats from China and the European Union pledged closer cooperation on Wednesday at a time of global uncertainty, highlighting their common interests in peace and security and pushing a message of free trade and open engagement in contrast to fears that the US is turning inward under President Donald Trump. The statements came as China ...

  DUBAI / WAM Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy, said the UAE sees a healthy level of demand for crude oil in the future from emerging economies in Africa and Asia, and that UAE would remain commercially-minded in its strategic oil investments. Al Mazrouei’s comments came during a session on the region’s oil policy moderated ...

  FUJAIRAH / WAM The Government of Fujairah is committed to opening new prospects for investment in mineral resources, according to HH Sheikh Mohammed bin Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah, during the Fifth Fujairah International Forum for Industrial Rocks & Mining on Tuesday. He stressed the need for introducing flexible legislations that support efforts to conserve ...