Dubai / Emirates Business Building on the hugely successful second edition in 2016, the Festival of Media MENA is returning to Dubai on April 26 at the Waldorf Astoria on Palm Jumeirah. The third edition of this global conference and awards program will bring together senior level executives from the world’s biggest brands, marketing agencies and media houses to ...
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China opens delayed Myanmar pipeline for faster Mideast oil
Bloomberg A crude pipeline to southwestern China through its neighbour Myanmar began operations after years of delays, allowing the world’s second-biggest oil user to receive supplies faster from the Middle East and Africa. A Suezmax-sized tanker, which can hold 140,000 metric tons (about 1 million barrels) of crude, began offloading oil for the pipeline at Myanmar’s Made Island, according ...
Read More »Oil holds longest run of gains this year before US supply data
Bloomberg Oil traded near $53 a barrel, holding its longest winning streak this year before US government data forecast to show record crude stockpiles declined. Futures were little changed in New York after rising 5.7 percent in the previous five sessions. Inventories probably dropped by 1.5 million barrels last week, according to a Bloomberg survey before an Energy Information Administration ...
Read More »Metallurgical coal surges past $300 towards record
Bloomberg Spot metallurgical coal is heading for a record after surging above $300 a metric ton amid supply curbs from Australia, the world’s biggest exporter of the commodity used to make steel. Morgan Stanley says “panic buying†has helped double the price of premium hard coking coal over the past eight sessions after rain from the remnants of cyclone ...
Read More »Toshiba warns it may not continue as ‘going concern’
Bloomberg Toshiba Corp., the 142-year-old conglomerate, warned on Tuesday it may not be able to continue as a going concern as it grapples with billions of dollars in losses from its Westinghouse Electric nuclear business. The disclosure came as the Japanese company reported earnings for the third quarter after missing two previous deadlines for financial results. Toshiba posted an ...
Read More »India mulls private banks for $1.5trn funding gap
Bloomberg India is considering turning to the private sector to help plug a chronic shortage of capital for infrastruc- ture projects. The Reserve Bank of India is proposing Asia’s third-largest economy offer licenses to private companies to set up infrastructure banks. That could help finance $1.5 trillion in roads, ports, power and other projects over the next 10 years ...
Read More »â€˜Apple made threats, lied to regulators’
Bloomberg Qualcomm Inc. accused Apple Inc. of lying to regulators to spur investigations of the chipmaker, and threatening it to cover up the use of inferior parts in some iPhones. The world’s largest maker of phone semiconductors responded to a January lawsuit from Apple with counterclaims for damages late on Monday, alleging the iPhone maker breached contractual pledges, mischaracterized ...
Read More »Dialog Semiconductor shares tumble after ‘Apple warning’
Bloomberg Dialog Semiconductor Plc’s shares plunged the most in more than 16 years after an analyst warned that Apple Inc. probably will cut back on the use of the company’s power-management chips. “There is strong evidence that Apple is developing its own power-management integrated circuits and intends to replace the chip made by Dialog at least in part,†Karsten ...
Read More »BMW, Ford win UK funds for driverless, low-carbon cars
Bloomberg BMW AG, Ford Motor Co. and Jaguar Land Rover are among the winners of 110 million pounds ($136 million) from the UK for the development of low-carbon vehicles and driverless cars. The funding for a total of 38 projects, including 62 million pounds for low-emission cars and 31 million pounds for autonomous vehicles, will help protect almost 2,400 ...
Read More »UK grocers secretly squeeze buyers as Brexit bites
Bloomberg UK grocers are finding creative ways of passing on Brexit-induced cost increases to consumers. If you’re shopping for candles or light bulbs, buyer beware. Unable to raise prices of staple goods from milk to Marmite because of tough competition from discounters and watchful tabloid newspapers, supermarket operators like Tesco Plc and Wal-Mart Stores Inc.’s Asda are ratcheting them ...
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