News

  Dubai / Emirates Business The UAE’s food and beverage market is continuing its evolution as an international food and beverage capital thanks to forward-thinking operators looking to maximise their stake in a market expected to be worth a whopping AED82 billion by 2020, according to Euromonitor International. Now a record number of local F&B businesses are preparing to capitalise ...

  Dubai / Emirates Business The Mohammed bin Rashid Al Maktoum Foundation (MBRF) revealed that one billion people around the world interacted with the hashtag #Bil_Arabi across all social media platforms. The public’s interaction with the fourth instalment of the Bil Arabi initiative– recorded on Twitter, Facebook, Instagram, and SnapChat – exceeded all expectations, assured to the Foundation, adding that ...

  Dubai / Emirates Business Dubai Culture & Arts Authority (Dubai Culture), the Emirate’s dedicated entity for culture, arts and heritage, announced its support of the ‘We Are With You’ forum held under the patronage of His Highness Sheikh Rashid bin Hamdan Al Maktoum, Chairman of the Board of Trustees at Al Maktoum Foundation. The forum runs until January 13. ...

  Dubai / Emirates Business Government officials from more than 150 countries including 75 ministers, and leaders from international organisations, the private sector and civil society are gathering this week for the Seventh Assembly of the International Renewable Energy Agency (IRENA). The Assembly will bring together energy leaders to set the global renewable energy agenda and take concrete action to ...

  Dubai / Emirates Business Dubai Electricity and Water Authority (DEWA) will participate in the World Future Energy Summit (WFES) 2017 in Abu Dhabi, which is part of Abu Dhabi Sustainability Week. DEWA is efficiency sponsor of WFES, which is organised by Masdar, Abu Dhabi’s multi-faceted renewable energy company, from January 16-19 at the Abu Dhabi National Exhibition Centre. HE ...

  Bloomberg Takeda Pharmaceutical Co. will expand its footprint in the US oncology market with the $4.66 billion purchase of Ariad Pharmaceuticals Inc., adding one potential blockbuster in lung cancer and another already on-the-market therapy. Takeda will pay $24 a share for Ariad, the companies said in a statement, 75 percent more than its Friday close of $13.74. The deal ...

  Bloomberg Hyundai Engineering & Construction Co., Itochu Corp. and Chinese builders are among companies that may bid for a $5 billion contract to build a network of roads and a suspension bridge across Turkey’s Dardanelles waterway, according to people familiar with the matter. At least five bidding groups may compete in the January 26 auction, the people said, asking ...

  Bloomberg Yahoo! Inc. Chief Executive Officer Marissa Mayer is among six directors who plan to leave the board of the investment company that will be left after the closing of the proposed sale of Yahoo’s main internet properties to Verizon Communications Inc. The new company, a shareholder in Alibaba Group Holding Inc. and Yahoo! Japan, will change its name ...

  Bloomberg Toyota Motor Corp., whose investments in Mexico have drawn criticism from US President-elect Donald Trump, said it plans to invest $10 billion in the US over the next five years, maintaining the pace of spending it established during the last half decade. Jim Lentz, Toyota’s chief executive officer for North America, outlined the company’s intentions during an interview ...

  Bloomberg Valeant Pharmaceuticals International Inc., the embattled Canadian drugmaker, agreed to sell about $2.1 billion in assets to get cash to streamline its businesses and begin easing its debt burden. L’Oreal SA will pay Valeant $1.3 billion for three skin-care brands, the Paris-based company on Tuesday said in a statement. Earlier in the day, Valeant said it would sell ...