News

  Bloomberg It was the battery, after all. In a presentation and news conference on Monday that lasted more than two hours, Samsung Electronics Co. detailed the results of its investigation into Note 7 smartphones that overheated and burst into flames last year. There were few surprises. While the company cited flaws in battery manufacturing and design for the fiasco, ...

  Bloomberg Steps to cool China’s property market are stoking speculation the good times are about to end for developer bonds offshore. The hangover would be big. Yield-starved fund managers around the world have piled into the $65 billion market for dollar-denominated notes sold by Chinese builders. There is plenty of scope for pain after yield premiums for lower-rated US-currency ...

  Bloomberg Consumer prices in Singapore rose in December for the first time in more than two years, adding to signs of recovery in the city-state’s economy. CPI rose 0.2 percent from a year earlier, compared with unchanged prices in November. The median estimate of 16 economists in a Bloomberg survey was for a 0.1 percent gain Prices increased 0.2 ...

  Bloomberg The UK government will pick winning areas in the economy to champion as part of an industrial strategy aimed at boosting Britain’s productivity as the country prepares to leave the European Union. Announcing the long-promised plan on Monday, Prime Minister Theresa May said she wanted to see “sector deals” to identify and address barriers to expansion in different ...

  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 ...