News

  Bloomberg India has become the first nation to subsidize the use of digital cash after the government unveiled a raft of measures including discounts on online payments for insurance policies, rail tickets and highway toll charges. Exactly 30 days after junking existing high-value 500 and 1,000 rupee notes, Finance Minister Arun Jaitley sought to draw Indians toward digital payments ...

  Bloomberg Dutch electronics giant Philips announced on Monday the sale of a majority share in its Lumileds LED lighting business for $1.5 billion, after cancelling the spinoff earlier this year over US regulatory concerns. “Royal Philips announced that it has signed an agreement to sell an 80.1-percent interest in Lumileds to certain funds managed by affiliates of (US-based) Apollo ...

  Bloomberg Maropost Inc., a Canadian marketing technology startup, is nipping at the heels of Salesforce.com Inc. and Oracle Corp., going from zero to C$30 million ($23 million) in revenue in just three years. The Toronto-based firm sells software that makes it easier for companies to set up and run online marketing campaigns, competing directly with some of the products ...

  Bloomberg Amundi SA agreed to buy Pioneer Investments from Italy’s UniCredit SpA, accelerating the French investment company’s growth in the US and European markets including Germany and Austria. Amundi will pay about 3.5 billion euros ($3.7 billion) in cash, the Paris-based company controlled by Credit Agricole SA said in a statement on Monday. It will pay for the purchase ...

  LONDON / AP Like many foreign scientists in Britain, Joanna Bagniewska was devastated when Britons voted to leave the European Union. The biology lecturer, a Polish migrant who found Britain a welcoming place to build her academic career over a decade, is suddenly seeing her job security and research prospects up in the air. “I’m worried that after my ...

  Bloomberg 21st Century Fox Inc. and Sky Plc executives are working with their advisers to nail down final terms of an 11.2 billion-pound ($14.1 billion) deal that would consolidate Rupert Murdoch’s television empire across two continents. Fox’s co-chairmen, the 85-year-old media baron and his son Lachlan, have been intimately involved in discussions to purchase the 61 percent of UK ...

  ABU DHABI / WAM The United Arab Emirates (UAE) strongly condemned Sunday’s terrorist attack, which targeted the Saint Mark’s Coptic Cathedral in the Abbasiya district in the Egyptian capital Cairo. The blast killed scores of innocent people. HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, emphasised that the leadership, government and people of ...

  ABU DHABI / WAM Abu Dhabi General Services Company, (Musanada) is currently providing management services to 2,713 facilities and buildings across the emirate of Abu Dhabi, in addition to operating a 24/7 customer service call centre, the company said on Sunday. “Musanada’s facility-management division follows highest international and local standards to ensure provision of best services and operation of ...

  Dubai / Emirates Business Dubai SME, the agency of the Department of Economic Development mandated to develop the Emirate’s small and medium enterprise (SME) sector, and Al Tamimi & Company, the largest law firm in the Middle East which specialises in patents and innovations, have signed a memorandum of understanding (MoU) to support entrepreneurial innovations and patents. The MoU ...

  Dubai / Emirates Business Jumeirah Golf Estates announced the launch of an in-house leasing brokerage and resale services, enabling buyers and leasers to deal directly with the developer as it enhances its personalized service offering. Expanding its remit from developer and community manager to encompass this new function, Jumeirah Golf Estates will now offer leasing brokerage and resale services ...