News

DUBAI / Emirates Business Al-Futtaim Technologies (AFT), one of the region’s leading systems integrator, has been awarded a contract by Emirates Investment Bank (EIBank), an independent private bank based in Dubai, to upgrade its datacenter. The contract will see the Al-Futtaim company work closely with IT solution provider Dell EMC and its distributor Arrow to supply, install and configure EIBank’s ...

DUBAI / WAM The Emirates Integrated Telecommunications Company (du) announced the launch of its youth council in the UAE as part of the International Youth Day Celebration across the country. The ‘du Youth Council’ is specifically created to empower the UAE youth and enhance their contribution towards the nation’s development in the ICT sector. It is a platform that will ...

Bloomberg As Cuban refugees, the Fanjuls have a familiar story to tell. They fled the revolution. Fidel Castro’s forces seized everything they owned on the island, business interests, homes, a fortune in fine art. But they didn’t arrive in Florida in 1960 empty handed. Patriarch Alfonso Fanjul Sr., one of the world’s most prosperous sugar barons before Castro came onto ...

Bloomberg Vantiv Inc., the largest US merchant acquirer, agreed to buy e-commerce payments company Worldpay Group Plc for about $10.4 billion. The deal values each Worldpay share at 397 pence and the combined payment processing firm will seek a secondary listing on the London Stock Exchange, according to a statement on Wednesday. Following the deal, the company will be called ...

Bloomberg Last month’s second round of discussions on extricating Britain from the European Union produced a “significant step forward” on the thorny issue of citizens’ rights, even though the talks were at times tricky, Brexit Secretary David Davis said. In the July 17-20 talks in Brussels, negotiators focused on discussing the rights of EU citizens in Britain and those of ...

Bloomberg Jaguar Land Rover will have to continue to offer higher incentives to win customers as competition intensifies after Tata Motors Ltd.’s luxury unit posted slower growth in deliveries. A one-time gain helped Jaguar Land Rover post a 49 percent jump in profit before tax of 595 million pounds ($774 million), its Mumbai-based parent said on Wednesday. The profit includes ...

Bloomberg Walt Disney Co.’s Bob Iger is ready to embrace the cord cutter. Disney, the world’s largest entertainment company, outlined plans on Tuesday to sell some of its premiere content directly to consumers online starting next year. It will offer live sports and animated films including “Toy Story 4,” sidestepping partners from Netflix Inc. to pay-TV providers like Comcast Corp. ...

Bloomberg Wall Street? A new survey shows that jobs outside of Wall Street are becoming increasingly enticing to recent MBA graduates. According to data from Training the Street, bulge bracket banks were a top employment choice for just 19 percent of respondents. A drop of 7 percent from last year is also the lowest level in the eight-year history of ...

Bloomberg A worldwide glut of natural gas has buyers of the fuel driving hard bargains and pushing for shorter supply contracts. The only problem with that, according to their sellers: The market’s about to turn against them. Gas buyers have become too focused on the short-term, turning away from long-term contracts, said Greg Vesey, chief executive officer of Liquefied Natural ...

Bloomberg Colonial Pipeline is back to business as usual — with more demand to move fuels to the East Coast from Houston than it has space for. After running below capacity about 45 days starting in July, the largest gasoline pipeline in the US has restarted its practice of rationing space. The company froze shippers’ ability to nominate more fuels ...