News

  Bloomberg Billionaire Richard Li’s PCCW Ltd. plans to sell a HK$8.53 billion ($1.1 billion) stake in telecommunications unit HKT Trust & HKT Ltd., amassing cash as the Hong Kong tycoon shifts into greater media investments. The shares of both companies fell. PCCW will sell 840.7 million shares of Hong Kong’s largest phone company for HK$10.15 apiece, it said in ...

  Bloomberg Singapore’s government has a message for anyone expecting great things following Friday’s surprise growth bounce: don’t hold your breath. The city-state’s economy will still only expand between 1 percent and 3 percent this year, policy makers said after fourth-quarter growth burst in at an annualized 12.3 percent — the fastest pace in more than five years. They had ...

  Bloomberg The Trump administration has quietly consulted technology industry leaders ahead of issuing a delayed executive order on cybersecurity, even as executives have clashed with the White House over policies including the president’s efforts to limit entry to the US. President Donald Trump delayed the signing of a cybersecurity directive that had been planned for January 31 just as ...

  Bloomberg UK unemployment declined and a measure of the number of people in work rose to a record, pushing the labor market closer to “full capacity,” according to the statistics office. The number of jobless fell 7,000 in the fourth quarter to 1.6 million people, leaving the unemployment rate at 4.8 percent, the lowest in more than a decade. ...

  Bloomberg Accor SA, Europe’s biggest hotel operator, is expanding its luxury vacation-rental offering with listings in the Hamptons, Wall Street’s summer playground. The Long Island rentals cost as much as $2 million for the season and are the first launches in the Collections portfolio of Accor’s onefinestay unit, according to a company statement. More sites will be added over ...

  Bloomberg Luxury developer Toll Brothers Inc. has a deal for those shopping for a condo in Manhattan: buy something soon, and we’ll pay the taxes on your purchase. The publicly traded homebuilder is offering to pay the city transfer tax and the New York state “mansion tax” — an effective discount totaling almost 2.5 percent — on deals made ...

  Bloomberg A UK energy-storage startup is aiming to take on Tesla Inc. in the competition to outfit homes with affordable back-up battery power. Powervault Ltd. is preparing to boost production of its lead- and lithium-ion batteries, said Managing Director Joe Warren. The London-based company is targeting sales of 50,000 units a year by 2020, up from about 1,000 this ...

  Dubai / WAM As part of its initiative for the Year of Giving, the Abu Dhabi Businesswomen Council (ADBWC) launched the third campaign to spread the culture of entrepreneurship in Abu Dhabi, under the theme “Our social responsibility to serve the nation”. The drive will feature more than 45 activities, as well as general and specialised training courses to raise ...

  Dubai / WAM The Dar Al Ber Society, as part of its support for the “Year of Giving” initiative that was launched by President His Highness Sheikh Khalifa bin Zayed Al Nahyan, successfully collected up to AED19.4 million to build 156 mosques, both locally and abroad. The “Build a Mosque” initiative that was recently launched has not only been a ...

  Dubai / WAM Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA) met John Chambers, Executive Chairman of Cisco, to discuss enhancing cooperation, and implementing smart solutions to achieve the objectives set by Dubai Government towards the future of smart cities. During the meeting was held on the sidelines of the recently concluded World Government ...