News

  Bloomberg Germany’s economy ended 2016 on a strong footing, with a key index suggesting growth accelerated in the fourth quarter. IHS Markit said its composite Purchasing Managers Index was at 54.8 this month after a reading of 55 in November, capping the economy’s strongest three-month period since the second quarter of 2014. That indicates economic growth picked up from ...

  Bloomberg Lonza Group AG agreed to buy US capsule maker Capsugel SA from KKR & Co. for $5.5 billion, as the Swiss biotech and specialty chemicals company seeks to focus more on health care. The price includes refinancing of existing Capsugel debt of about $2 billion, Basel-based Lonza and Capsugel, which has headquarters in Morristown, New Jersey, said in ...

  Bloomberg US factory output dropped in November for the first time in three months, showing an anemic recovery in manufacturing after an extended slowdown. Production at factories, which make up 75 percent of all output, fell 0.1 percent, a Federal Reserve report showed Wednesday. The median forecast in a Bloomberg survey called for a 0.2 percent drop. Total industrial ...

  ABU DHABI / WAM The UAE Central Bank issued a resolution, amending its Circular No. 24/2000 on Regulation concerning Procedures for Anti-Money Laundering and its amendments. According to Article One of the resolution, the texts of paragraph (3-1) of Article (3), Article (4) and paragraph (a) of Article (19) of Circular No. 24/2000 – Regulation concerning Procedures for Anti-Money ...

  Dubai / Emirates Business du launched its Data Centre and Managed Hosting Services as an innovative way to give customers a secure and scalable ICT foundation for developing their businesses in the UAE and across the MENA region. du’s Data Centre and Managed Hosting Services combine highly secure data centre facilities with network and interconnection services to give customers ...

  DUBAI / EMIRATES BUSINESS The Department of Economic Development (DED) in Dubai signed a memorandum of understanding (MoU) with Dubai Healthcare City Authority (DHCA), the governing body of the Dubai Healthcare City (DHCC) free zone, under which the latter would be given access to the Reserve Trade Name registry of DED. The agreement is part of unifying trade name ...

  DUBAI / EMIRATES BUSINESS NMC Health plc. (NMC), the leading integrated healthcare provider operating across the United Arab Emirates, announced the proposed acquisition of Al Zahra Hospital in Sharjah from Gulf Medical Projects Company (“GMPC”) for AED 2,058 million (approximately US$560 million). Subject to shareholder approval, the acquisition is a strategic step forward for NMC Health and will reinforce ...

  Dubai / WAM The International Telecommunications Union’s (ITU) regional forum on Information and Communications Technology (ICT) measurement was held on Wednesday in Dubai. Aimed at enhancing the countries’ capabilities in the region to produce ICT related statistics on internationally agreed standards and national methodologies and indicators, the forum witnessed a significant presence of high-level officials and national experts in ...

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces on Wednesday received the visiting Leonid Eduardovich Slutskii member of the State Duma of Russia, at Al Shai’ Palace. They reviewed cooperation between the UAE and Russia and the strong trade and economic partnerships ...

  Abu Dhabi / Emirates Business Abu Dhabi is poised to become the regional hub for ‘Halal Cruising’, delegates heard on the final day of the 2016 Seatrade Middle East Cruise Forum, taking place in the UAE capital. That is the strong message delivered by Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi) to senior cruise line executives, tourism ...