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Bloomberg Oil slid further into a bear market as rising global supply is countering efforts by OPEC and its allies to drain a glut. Futures fell as much as 1.1 percent in New York after front-month prices closed on Tuesday more than 20 percent below their February peak. Libya, exempt from the OPEC-led output cuts, is pumping the most in ...

Bloomberg Apple Inc. said in a legal filing that there is “mounting evidence” Qualcomm Inc. is operating an “illegal business model” designed to extract high patent royalties on every wireless device sold. The iPhone maker said it was adding more allegations to a complaint filed in January that accuses Qualcomm of trying to monopolize the chip market for wireless devices. ...

Bloomberg TPG, an investor in Uber Technologies Inc. and Airbnb Inc., is seeking $3 billion for its fourth growth-equity fund, according to people with knowledge of the matter. The private equity firm plans to start raising money for the pool this year and is targeting the same amount it got for its third fund, which finished collecting $3 billion in ...

Bloomberg Uber Technologies Inc. Chief Executive Officer Travis Kalanick has resigned after a series of controversies that rocked the world’s largest technology startup and exposed deep problems with its male-dominated culture. The man most closely identified with the ride-hailing giant’s meteoric global ascent said he was ceding to investors’ wishes that he step aside, in part to avoid yet another ...

DUBAI / Emirates Business Middle East medium and smaller businesses will drive the region’s USD 12 billion business intelligence mar- ket, according to the ne- wly appointed channel head at digital transformation enabler SAP. While small- and medium-sized enterprises comprise the majority of Middle East enterprises, they lag in digital technology adoption. Among SMEs in the region, only 18 percent ...

DUBAI / Emirates Business Chief Happiness and Positivity Officers from various government agencies launched the ‘Happiness without Borders’ initiative in an effort to establish happiness and positivity as a lifestyle and a cultural trait in the UAE. The idea is for Chief Happiness and Positivity Officers to offer free counsel to government and private institutions, where they share the experience ...

Abu Dhabi / Reuters Abu Dhabi Ports has signed a 35-year concession to develop and manage the Port of Fujairah, the state-owned company said on Tuesday, two months after Dubai-owned DP World’s contract ended there. Fujairah, located on the United Arab Emirates’ east coast, is the country’s only multi-purpose port outside the Strait of Hormuz, giving it direct access to ...

Abu Dhabi / Emirates Business Abu Dhabi Quality and Conformity Council (QCC), the entity responsible for developing quality infrastructure and raising awareness on quality standards in the emirate of Abu Dhabi, has unveiled a conformity assessment scheme to verify the quality, safety and sustainability performance of solar photovoltaic (PV) systems. The scheme allows suppliers and manufacturers of solar PV systems ...

Abu Dhabi / Emirates Business Reed Exhibitions, the leading global event organiser, has confirmed that the second edition of Infosecurity Middle East, the Gulf’s specialist event securing vital government and critical data against cyber threats, will once again run as a co-located event on the side-lines of the eighth International Exhibition for National Security and Resilience (ISNR Abu Dhabi 2018). ...

Dubai / WAM The city of Dubai has announced that it is working on establishing the first collective-endowment park in the world, which will encourage members of the community to donate palm trees as a form of agricultural endowment. The Endowment Park project, which is being established by Dubai Municipality and the Mohammed bin Rashid Global Centre for Endowment Consultancy, ...