News

  Bloomberg Roche Holding AG expects to dodge the worst of the fallout from the expiry of patents on its blockbuster medicines. The Swiss drugmaker is rolling out new treatments such as the cancer immune therapy Tecentriq and wrapping up costly clinical trials for two experimental medicines to soften the blow from competition to its ageing cancer blockbusters. That means ...

  Bloomberg BMW AG Chief Executive Officer Harald Krueger defended the importance of free trade, responding to recent remarks by US President Donald Trump suggesting he’ll push for tariffs to protect American jobs. “As a global company, we’re present on all important markets,” Krueger said at an industry conference in Bochum, Germany. “That also means that we allocate automobile value-creation ...

  Abu Dhabi / WAM The UAE’s non-oil foreign trade stood at AED1.172 trillion during the first nine months of 2016 (January-September), compared to AED1.170 trillion in the same period in 2015, showing a 0.1 percent growth. Preliminary data of the Federal Customs Authority (FCA) indicated that the share of imports in the UAE’s total non-oil trade amounted to AED721.2 billion, ...

  Dubai / WAM Dubai Chamber of Commerce and Industry (DCCI) honoured top performing SME exporters. The companies were recognised for demonstrating outstanding export performance during the last nine months of 2016 in the following categories: company with the highest export value, company with the highest number of export markets, company with the highest number of Certificates of Origin issued, and ...

  Dubai / WAM Experts from the governance, risk and compliance, GRC, communities across the MENA region will converge in Dubai next week for a dialogue with neighbouring countries that share the same risks, challenges and regulatory outlook, at the 11th Annual MENA Regulatory Summit. Co-hosted by the Dubai Financial Services Authority (DFSA) and Thomson Reuters on February 5-6, the summit ...

  Dubai / WAM Dubai’s low-cost carrier flydubai reported total profits of AED31.6 million ($8.6 million) in 2016 with total revenue reaching AED5 billion ($1.36 billion), jumping 2.4 percent compared to the same period in 2015. The airline also recorded a 14.4 per cent increase in passenger numbers last year, carrying 10.4 million passengers over a 12-month period compared to 9.04 ...

  Bloomberg Obamacare looks like it’s going away. Until that happens, big health insurers aren’t sure what to do with it. Republicans and President Donald Trump haven’t given details on how they’ll repeal and replace the Affordable Care Act. Uncertainty about the law, which covers millions of Americans, has left companies trying to figure out if they’re better off stuck ...

  Bloomberg Workers at BHP Billiton Ltd.’s Escondida copper mine in Chile have voted against the company’s latest wage offer, opening the door for a strike and potentially heralding a wave of stoppages at global suppliers after a rally. Prices rose above $6,000 a metric ton in London. Some 99 percent of members voted in favor of a strike, which ...

  Bloomberg Volkswagen has agreed to pay at least $1.2 billion in buybacks and compensation to settle claims from US owners of cars with larger diesel engines that the company rigged to cheat on emissions tests. And the German automaker could pay even more — as much as $4 billion — if it can’t repair many of the cars in ...

  Abu Dhabi / Emirates Business FGB, one of the leading banks in the UAE and the largest by market capitalisation, achieved a record group net profit of AED 6.03 billion for the full year 2016, compared to AED 6.01 billion in 2015, marking its 17th consecutive year of consistent growth in profitability. Full year 2016 Earnings Per Share amounted ...