News

  Bloomberg Toshiba Corp. is looking to sell more assets to repair a balance sheet facing multibillion-dollar writedowns. The conglomerate happens to have more than 600 different businesses, but raising cash from the firesale will be far from simple. While Toshiba’s two biggest enterprises are nuclear reactors and semiconductors, the Tokyo-based company also has its hands in a wide range ...

  Bloomberg After years spent languishing behind its neighbors, the Philippines is finally catching up with its fellow Asian tiger economies as it posts some of the fastest growth rates in the world. With the World Bank forecasting expansion of more than 6 percent for eight years until 2019 — unparalleled in the nation’s history — the Philippines is mimicking ...

  Bloomberg Alphabet Inc.’s medical arm Verily Life Sciences LLC is getting a major influx of cash from a Singapore-based investment company, boosting the odds of taking their futuristic approach to healthcare into Asian markets. Temasek Holdings Pte Ltd, a state-owned firm, is investing $800 million in Verily, according to a statement from the company Thursday. In exchange, Temasek will ...

  Bloomberg China’s voracious demand for cotton is sparking the fiber’s best rally in six months. Chinese buyers have committed to purchasing almost five times more American cotton than at this time last year, the US government said in a report this month. The price of the commodity is heading for its biggest monthly advance since July. Hedge funds are ...

  ABU DHABI / WAM The UAE seeks to be a key member of the executive council of the International Maritime Organisation (IMO) in 2017, a cabinet minister has said. “We obtained the necessary approvals from the concerned authorities in the UAE and the Ministry of Foreign Affairs and International Cooperation, and will work closely with the stakeholders, ports and ...

  Abu Dhabi / WAM The Department of Economic Development – Abu Dhabi (ADDED) launched the Innovators Support Council (ISC) during a meeting attended by Khalifa bin Salem Al Mansouri, Acting Under-Secretary, and representatives from Abu Dhabi National Oil Company (ADNOC), UAE University, Masdar Institute, Al Ain Distribution and other UAE companies, along with the UAE inventors who are the ...

  ABU DHABI / WAM The fourth Abu Dhabi Dialogue Consultative Ministerial Meeting in Colombo, Sri Lanka, announced four declarations as per The Colombo Declaration Draft, which acts as a collaborative agenda for the next two-year cycle, 2017 – 2018, tackling projects and initiatives relating to temporary labour contracts between ‘countries of origin and destination’ in Asia. “The cooperation aims ...

  Abu Dhabi / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, in his capacity as Ruler of Abu Dhabi, issued a law concerning the Abu Dhabi Government’s financial system. The law seeks to set a comprehensive regulatory framework for public financial resources to guarantee that government work is conducted within the institutional framework, with a high level of ...

  Abu Dhabi / WAM Abu Dhabi Global Market (ADGM) the international financial centre in Abu Dhabi, and the Mauritius Financial Services Commission, (Mauritius FSC) have signed a Memorandum of Understanding (MoU) to bolster cross-border cooperation. The MoU will strengthen regulatory cooperation for the supervision of financial institutions, facilitate joint collaboration and exchange of information. Richard Teng, Chief Executive Officer, Financial ...

  Abu Dhabi / Emirates Business Attended by His Excellency Eng. Suhail Al Mazrouei, UAE Minister of Energy and Chair of the UAE National Committee, His Excellency Dr Matar Al Neyadi, the Undersecretary of the Ministry of Energy and the Chair of the Organizing Committee signed on Sunday the Project Management Office (PMO) contract with Energy Events Experts (E3) to ...