News

  Bloomberg “We are always looking at acquisitions,” Apple Inc. Chief Executive Officer Tim Cook told analysts last month. “There’s not a size that we would not do.” It’s a message he’s increasingly stressed over the past year as investors question how the world’s most valuable technology company plans to use its $246 billion cash pile to meet ambitious sales ...

  Bloomberg Nestle SA’s new Chief Executive Officer Mark Schneider said it will take years to return to the growth rates targeted by his predecessors and will consider exiting underperforming businesses if he can’t fix them. The world’s largest food company forecast revenue will increase 2 percent to 4 percent on an organic basis this year, below a long-held goal ...

  Bloomberg Investors counting on a bidding war to drive up the price of German drugmaker Stada Arzneimittel AG well past its $3.66 billion in market value may be out of luck. The German maker of generic medicines this week said it had two offers, including one from Cinven Ltd. valuing it at about 56 euros-a-share. And people familiar with ...

  Bloomberg Alphabet Inc. named broadband executive Gregory McCray to lead its Access subsidiary as the company tries to develop a new strategy for the internet-communications business. With the appointment, the Access unit, which includes the high-speed Fiber internet service, is getting slimmer. Several hundred employees are moving over to Alphabet’s main Google business, according to a person familiar with ...

  Bloomberg Serbia needs to stop subsidizing unprofitable state companies to lock in progress the largest former Yugoslav republic has made in cutting the budget, staunching one of the largest drains on state coffers, the local head of the International Monetary Fund said. “Fiscal costs from loss-making state-owned enterprises need to be plugged,” said Sebastian Sosa in an Belgrade interview ...

  ABU DHABI / WAM The Sharjah Finance Department (SFD) launched an e-payment service in partnership with the Emirates Identity Authority (EIDA). Now the Emirates ID card can be used to make payments for service fees for all Sharjah government departments, it was announced. The strategic agreement with Emirates ID indicates that the Department’s system is now linked to all ...

  DUBAI / WAM The 1st cycle of the Mohammed bin Rashid Al Maktoum, MRM, Business Innovation Award, launched by Dubai Chamber of Commerce and Industry in cooperation with the Ministry of Economy, has resulted in the adoption of new innovative strategies among businesses in the UAE and the wider GCC region. Preparations are currently underway to host an awards ...

  DUBAI / WAM Nasdaq Dubai welcomed Wednesday’s listing of US$1 billion Sukuk by Dubai Islamic Bank (DIB), on the region’s international exchange. This brings the total value of DIB’s Sukuk current listings on Nasdaq Dubai to US$4.25 billion, more than any other UAE issuer. DIB’s earlier Sukuk listings include a $1 billion listing in 2013, two listings of $750 ...

  Abu Dhabi / WAM The Majlis of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, hosted on Wednesday a lecture by Kent Walker, Executive Vice President of Legal, Policy, Trust and Safety and Google.org at Google. The lecture, held at Al Bateen Palace in Abu Dhabi, ...

  Dubai / WAM The Mohammed bin Rashid Space Centre (MBRSC) and the American University of Sharjah (AUS) have announced the successful launch of Nayif-1, the UAE’s first nanosatellite launched into outer space. The launch occurred at 7.58 in the morning (UAE local time). Nayif-1 takes on added importance as an educational project launched by MBRSC in cooperation with AUS with ...