News

  Bloomberg Simmering tensions between Anthem Inc. and Cigna Corp. exploded as Cigna sued to end their $48 billion deal, and Anthem moments later said it would fight to keep the merger alive. The clash came just hours after the other US health insurance megadeal, a $37 billion tie-up between Aetna Inc. and Humana Inc., ended peacefully with the companies ...

  Bloomberg American International Group Inc. posted its fourth loss in six quarters, burned again by higher-than-expected claims costs as Chief Executive Officer Peter Hancock struggles to sustain profitability. The net loss widened to $3.04 billion, or $2.96 a share, from a $1.84 billion, or $1.50, a year earlier, the New York-based insurer said in a statement. The fourth quarter’s ...

  Bloomberg Iceland’s history is of booms and busts. So as the inhabitants of a volcanic rock in the middle of the North Atlantic ocean roar back from their 2008 economic meltdown (this latest boom was fed by tourism and construction), the talk in the streets is of what shape the next crisis will take and when exactly it will ...

  ABU DHABI / WAM A delegation from the Infrastructure and Environment Committee and the Social Development Committee inspected workflow at a number of ongoing housing projects in the city of Al Ain, including the Jebel Hafeet and Ain Al Fayada residential projects. The delegation was headed by Falah Mohamed Al Ahbabi, Chairman of the Infrastructure and Environment Committee, and ...

  Abu Dhabi / WAM Foreign investors’ purchases in Abu Dhabi Securities Exchange (ADX) in January 2017 reached AED3.13 billion, representing 40.4 percent of total buy trades, whereas their sell stood at AED2.723 billion, representing 35.2 percent of total sell trades. Subsequently, the net foreign investment in January reached AED 406 million. ADX general index in January grew by 0.03 percent ...

  Dubai / WAM Dubai Chamber of Commerce and Industry (DCCI) has honoured 39 companies with the CSR Label for their Corporate Social Responsibility, CSR, and sustainability efforts. Those who received the accolade included Intercoil International Co. LLC, Mashreq, Qurum Business Group, and Standard Chartered Bank for the sixth time, while Ducab, Emirates Transport, Emrill Services, Majid Al Futtaim Properties, National ...

  Abu Dhabi / WAM Abu Dhabi Airports (AUH) awarded a five-year car parking contract for the new Midfield Terminal Complex (MTC) to Zone Parking Solutions LLC. The company will be responsible for the design, supply, installation, operation and maintenance of a centralised Parking Access and Revenue Control System (PARCS) at the short-term, long-term and employee car parks. Parking facilities are being ...

  Dubai / WAM The Roads and Transport Authority (RTA) of Dubai signed an agreement with Tesla Inc., a world-leading manufacturer of autonomous electric vehicles, to buy 200 hybrid electric vehicles fitted with several components of autonomous driving technologies. According to Tesla, the RTA will purchase Model S sedans and Model X SUVs for the programme. The new vehicles will be ...

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, and Prime Minister of UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, unveiled on Tuesday the “Mars 2117 Project” which aims at its final stage to establish the ...

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, launched Dubai’s plans to become the global capital for the future at the 2017 World Government Summit. He called on all Dubai Government entities to embrace disruptive innovation as a fundamental mantra of their operations and to seek ways ...