News

Bloomberg Chinese construction contractor New Headline Holdings Ltd. shelved a HK$340 million ($44 million) initial public offering in Hong Kong after a key executive, who is also the chairman’s wife, was put under police surveillance. Executive Director Xie Birui is under “designated residence surveillance” by the Public Security Bureau of Lianyungang, the city in eastern China’s Jiangsu province where the ...

Bloomberg A landmark medical trial involving Alphabet Inc.’s DeepMind artificial intelligence division violated British data protection laws, the UK’s top privacy watchdog ruled. The Information Commissioner’s Office said that the National Health Service hospital that conducted the trial with DeepMind improperly shared 1.6 million patient records with the tech company, failing to inform patients that their data would be used ...

Bloomberg Microsoft Corp. reorganized its sales and marketing operations in a bid to woo more customers in areas like artificial intelligence and the cloud by providing sales staff with greater technical and industry-specific expertise. The changes will mean thousands of job cuts in areas such as field sales, said a person familiar with the restructuring who asked not to be ...

Bloomberg UK manufacturing slowed more than forecast in June as uncertainty hit demand, raising doubts about the outlook for the economy, according to IHS Markit. Its Purchasing Managers Index fell to a three-month low of 54.3 from a downwardly revised 56.3 in May, the company said in London. While that’s below what economists had forecast, it’s still above the 50 ...

Bloomberg Uber Technologies Inc. suffered another setback in the European Union after an adviser to the bloc’s top court backed a French law that led to sanctions for top managers in the country. EU nations “may prohibit and punish the illegal exercise of a transport activity such as UberPop without having to notify the” European Commission of the draft law, ...

Bloomberg June US sales show automakers are still selling lots of expensive trucks and sport utility vehicles, a bright spot that’s rescuing profitability in a market forecast to decline from last year’s record sales. Deliveries of Toyota Motor Corp.’s RAV4 spiked 25 percent, while Honda Motor Co.’s HR-V saw a 35 percent gain, according to Autodata Corp. Toyota, Honda and ...

Abu Dhabi / Emirates Business The Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (Qianhai Authority) and the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) entered into a new partnership to further develop and promote closer investment and financial innovation opportunities and collaborations for enterprises in Qianhai, Hong Kong and Abu Dhabi. In support ...

Abu Dhabi / WAM The Abu Dhabi Education Council (ADEC) and Emirates Transport have launched ‘Hafilaty’, an app that enables parents to track their children to and from school, as part of their efforts to enhance safety in school buses. Mohammed Salem Al Dhaheri, Executive Director of the School Operations Sector in ADEC, said that this project is being implemented within ...

Dubai / WAM Twelve new private hospitals will open in Dubai by the year 2020 totalling the number of private hospitals in the emirate to 38, the Dubai Health Authority (DHA) has announced. The DHA’s Health Regulation Department said that the private medical field in Dubai is going to witness a growth in the next few years leading to 2020. ...

Dubai / WAM In the spirit of #Year_of_Giving initiative of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, Geant Hypermarket announced its participation in environment endowment fund by The Mohammed Bin Rashid Global Centre for Endowment Consultancy (MBRGCEC) and the Emirates Wildlife Society in association with WWF (EWS-WWF). The environment endowment fund is a first of its kind endowment, ...