News

  Bloomberg Microsoft Corp.’s effort to halt the FBI’s so-called sneak-and-peak searches of e-mails may ride on whether it’s allowed to defend its customers’ constitutional rights. The judge who will decide whether the case can go ahead told the company’s lawyers to be ready in court on Monday to address earlier rulings that undercut their arguments. At stake is half ...

  Bloomberg Cynosure Inc., the maker of lasers for medical and cosmetic treatments, is exploring strategic options including a sale, according to people familiar with the matter, amid increasing interest in the technology from larger global companies. Cynosure is in talks with financial advisers as it weighs strategic options, the people said, asking not to be identified because the deliberations ...

  Bloomberg A unit of Warren Buffett’s Berkshire Hathaway Inc. agreed to buy Wilhelm Schulz GmbH, a closely held German maker of piping components, as the billionaire accelerates an expansion in Europe. Rainer Floeth, chief executive officer of Krefeld, Germany-based Wilhelm Schulz, confirmed by phone that Berkshire’s Precision Castparts had agreed to buy the company. He declined to elaborate on ...

  ABU DHABI / WAM The UAE Central Bank has announced that the Money Supply aggregate ‘M1’ increased by 0.3% from AED472.6 billion at the end of November 2016 to AED474 billion at the end of December 2016. In its statement, the bank added that Money Supply aggregate ‘M2’ increased by 1%, from AED1212.9 billion at the end of November ...

  Dubai / Emirates Business Emirates Real Estate Fund (EREF) agreed a $190.6 million (AED 700 million) Shari’a compliant finance facility with Emirates NBD, on attractive commercial terms. The new facility will help contribute to restructuring the balance sheet and creating a more efficient capital structure with the aim of ultimately enhancing returns to investors. EREF’s fund manager, Emirates NBD ...

  DUBAI / WAM Dubai SME, the agency of the Department of Economic Development (DED) in Dubai mandated to develop the small and medium enterprise (SME) sector, signed a Memorandum of Understanding (MoU) with Majid Al Futtaim Retail to support members of Dubai SME through the display of their products at Carrefour hypermarkets and supermarkets. Carrefour is a subsidiary of ...

  ABU DHABI / WAM The UAE’s Federal Authority for Nuclear Regulation (FANR) issued two licences: the first to transport ‘fresh’ nuclear fuel (i.e. fuel that is unirradiated), and the second to handle and store such fuel at Unit 1 of the Barakah Nuclear Power Plant. The receipt of nuclear fuel will be a first for the UAE, and FANR ...

  Sharjah / WAM Proper education is a shield against destructive ideas and misguided groups, His Highness Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, said. A solid family background contributes effectively to the nation-building, he added. The Sharjah Ruler expressed his views during a television talk show hosted on Sunday noon by Sharjah Satellite ...

  Dubai / WAM Intersec 2017, the world’s largest trade fair for security, safety, and fire protection, got underway at the Dubai International Convention and Exhibition Centre on Sunday featuring 1,304 exhibitors from 58 countries. The 19th edition of the annual showcase was flagged off by H.H. Sheikh Mansour bin Mohammed bin Rashid Al Maktoum, who was accompanied by senior government ...

  Dubai / WAM Dubai Electricity and Water Authority (DEWA) organised the DEWA CSR Creativity Lab for its staff and its partners from the public and private sectors. The creativity lab is part of DEWA’s efforts to support the Year of Giving initiative, which was launched by His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, and to ...