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Bloomberg Samsung Electronics Co.’s security guards once dragged a bespectacled professor out of the building after he heckled the chief executive officer for not doing anything when the chairman was accused of making illegal political donations. Thirteen years later, the professor — Kim Sang-jo — has the backing of South Korea’s new leader to hold the biggest conglomerates accountable in ...

Bloomberg The Polish government’s hopes to get special treatment from the European Union for its coal-dependent economy may be quashed by the bloc’s strict approach to limiting the dirty fuel. The EU’s largest eastern economy needs to build more coal-fired power plants to avoid blackouts and an economic slump, Poland’s energy minister said in the southern city of Katowice. That ...

Bloomberg Ford Motor Co. plans to cut about 10 percent of staff worldwide as Chief Executive Officer Mark Fields faces escalating pressure to boost profit and a lagging stock price, the Wall Street Journal reported. The job cuts are expected to be outlined as early as this week and mostly target salaried employees, the newspaper said, citing unidentified people briefed ...

Bloomberg The UK will quit talks on leaving the European Union unless the bloc drops its demands for a divorce payment as high as 100 billion euros ($112 billion), Brexit Secretary David Davis said. Britain’s negotiations would otherwise be plunged into “chaos,” and even a 1 billion-pound settlement wo- uld be “a lot of money,” Davis said in an interview. ...

Bloomberg Glencore Plc Chief Executive Officer Ivan Glasenberg said the rise of electric cars will significantly boost demand for minerals including copper and lithium in the coming decades. “The electric vehicle revolution is happening and its impact is likely to be felt faster than expected,” Glasenberg told investors at an industry conference in Barcelona. Almost all carmakers are increasing investm-ent ...

RIYADH / Reuters US and Saudi Arabian companies signed business deals worth tens of billions of dollars on Saturday during a visit by President Donald Trump, as Riyadh seeks help to develop its economy beyond oil. National oil firm Saudi Aramco said it signed $50 billion of agreements with US firms. Energy minister Khalid al-Falih said deals involving all companies ...

Abu dhabi / WAM Mubadala Investment Company, the Abu Dhabi strategic investment fund, confirmed that it has made a US$15 billion commitment to the Softbank Vision Fund, a major technology and innovation focused fund, alongside a consortium of leading investors. The investors are joining forces to create value from the significant wave of technological change and innovation that is transforming ...

Bloomberg OPEC officials gathering in Vienna to prepare for next week’s ministerial meeting kept their focus on rising US shale oil production, which has been diluting price impact of production cuts. National representatives from the OPEC and officials from several non-members heard a presentation on the outlook for the US industry from Roger Diwan, a Washington-based analyst at IHS Markit ...

Jordan / Emirates Business During World Economic Forum on Middle East and North Africa, global digital transformation enabler SAP announced it will build skills and knowledge among young talents worth $100mn by 2022. The program is centered on public-private partnerships driving economic growth in MENA. Cloud, analytics, mobility, and social media skills are posting double or triple digital growth in ...

Sharjah / WAM The Sharjah National Oil Corporation (SNOC), and the Sharjah Electricity and Water Authority (SEWA), have signed a full gas sales agreement, GSA, targeting the supply of natural gas for power generation in the emirate of Sharjah. The agreement was signed by Sheikh Sultan bin Ahmed Al Qasimi, Deputy Chairman of the Sharjah Petroleum Council and President of ...