News

Bloomberg Warburg Pincus agreed to buy a stake in Tata Technologies Ltd. from its parent Tata Motors Ltd., owner of Jaguar Land Rover, and another Tata group company for about $360 million. The New York-based private equity firm will acquire 43 percent stake in the Singapore-headquartered engineering services company, Tata Motors said in a statement on Thursday. Warburg Pincus will ...

Bloomberg Since its founding 23 years ago, Amazon.com Inc. has upended the business of selling books, music and just about everything else we consume — except food. Not anymore. In one fell swoop, Amazon founder Jeff Bezos charged into the supermarket business with the $13.7 billion acquisition of Whole Foods. The surprise deal shakes up the $800 billion grocery sector ...

Bloomberg Dow Chemical Co. and DuPont Co. won US antitrust approval for their $73 billion merger, overcoming one of the last remaining hurdles to a deal that would create a global chemicals giant. The companies said that the assets they agreed to sell to win US approval didn’t go beyond what they had already agreed to with other jurisdictions. DuPont ...

Bloomberg Nestle SA’s new chief executive officer is putting the world’s biggest food company on a diet, moving to shed its US confectionery business as he seeks growth from healthier and more profitable businesses. Half a year after taking the helm at the Vevey, Switzerland-based company, Mark Schneider put brands like Butterfinger and BabyRuth up for sale. Nestle’s shares rose ...

DUBAI / WAM Dubai International Financial Centre (DIFC) has welcomed Hapag-Lloyd to the centre following the successful completion of its multibillion Dollar merger with United Arab Shipping Company Limited (UASC), a DIFC company. The transaction is one of the largest ever mergers involving a DIFC company or any company based in the Gulf region. With 230 vessels and a combined ...

Abu Dhabi / WAM Abu Dhabi Ports, the master developer, operator and manager of the Emirate’s commercial and community ports as well as Khalifa Industrial Zone, KIZAD, has announced the close of its best-ever cruise season at Abu Dhabi Cruise Terminal with the maiden call of Princess Cruise Lines’ Majestic Princess. The company recorded a growth for the year with ...

DUBAI / WAM Master developer Nakheel has released a construction tender for Nad Al Sheba Mall, its new, 1.4 million square foot shopping, dining and entertainment destination in Nad Al Sheba area of Dubai. The move comes a month after Nakheel Malls began leasing at Nad Al Sheba Mall, which will have 200 shops, restaurants and entertainment outlets, medical clinic ...

ABU DHABI / WAM The Board of Directors of the UAE Central Bank has held its 4th meeting for 2017 under the chairmanship of Khalifa Mohammed Al Kindi, Chairman of the Board. The meeting was attended by Khalid Juma Al Majid, Deputy Chairman, Mubarak Rashed Al Mansoori, the Governor, and Board members.

Abu Dhabi / Emirates Business The financing for Phase 3 of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai has been completed. This marks the latest significant milestone for the Masdar-led consortium, with EDF Group’s subsidiary, EDF Energies Nouvelles, which is developing the 800 MW project in partnership with Dubai Electricity and Water Authority (DEWA). A sophisticated financing ...

Dubai / WAM Inspections carried out by Dubai Municipality before and during the first week of the Holy Month of Ramadan have confirmed that 91 percent of food establishments that display food outside are complying with the hygiene regulations of the Municipality. The inspection also found eight foodstuff warehouses that are non-compliant. Sultan Ali Al Tahir, Head of Food Inspection ...