News

  Bloomberg Monsanto Co. talked to three other companies about potential transactions in the months leading up to its agreement to be acquired by Bayer AG for $65.7 billion, the largest ever agricultural takeover. Details of the talks were revealed in the seed company’s proxy statement filed Wednesday. While talks with Germany’s BASF SE about a possible combination of their ...

  DUBAI / WAM Nakheel on Wednesday announced a net profit of AED3.91 billion for the first nine months of 2016, an increase of 8.3 percent on the profit of AED3.61 billion in the same period last year. The company recorded a net profit of AED955 million for third quarter of 2016, 22 percent up on Q3 2015 profit of ...

  Bloomberg Saudi Arabia plans to raise $17.5 billion in the biggest ever bond sale from an emerging-market nation, according to four people with knowledge of the offering, as it seeks to shore up finances. The government aims to sell dollar-denominated bonds due in five years yielding 135 basis points more than similar-maturity US Treasuries, 10-year notes at a spread ...

  SHANGHAI / WAM Abu Dhabi and Shanghai will bolster economic co-operation in trade, investment and technology transfer, after the parties signed a Memorandum of Understanding (MoU). Khalifa bin Salem Al Mansouri, Acting Under-Secretary of ADDED, and Gen Shing Meng, Vice Secretary-General of Shanghai Government, witnessed the signing, and later discussed means of promoting economic and investment relations between Shanghai ...

  DUBAI / WAM Dubai Electricity and Water Authority (DEWA) signed a Memorandum of Understanding (MoU), with Intel Corporation Middle East, to enhance cooperation, develop new initiatives, and enhance the happiness of stakeholders though the adoption and development of the latest technologies and business models. These include the Internet of Things (IoT), cloud computing, data centres, big data, artificial intelligence, ...

  Abu Dhabi / WAM Aldar Properties awarded an AED155 million contract for the early works of Yas Acres, a golf and waterfront development on Yas Island, to locally-based Bauer Geotechnical Specialised Foundation. Talal Al Dhiyebi, Chief Development Officer of Aldar Properties, said, “We are pleased to award the early works package for Yas Acres within six months of launching ...

  Abu Dhabi / WAM Abu Dhabi International Airport (AUH) welcomed 2.1 million passengers throughout September, an increase of 5 percent over September 2015. Since the beginning of the year, passenger traffic at AUH has grown 6 percent over the same period last year, with 18,528,723 passengers between January 1st and September 30th. There were 352,067 departures in total, a ...

  Abu Dhabi / Emirates Business From December 1, guests flying between Abu Dhabi and Tokyo Narita will enjoy the luxury and comfort of a Boeing 787 Dreamliner when Etihad Airways upgrades its service on the route. The state-of-the-art aircraft, configured in three classes, features the airline’s ground-breaking First Suites, Business Studios and Economy Smart Seats. It will replace the ...

  Dubai / Emirates Business Dubai Cares, part of Mohammed bin Rashid Al Maktoum Global Initiatives, has officially announced on Wednesday the allocation of AED 73,470,000 (USD 20,000,000) for Education in Emergencies. The commitment will initially cover 3 programs in Lebanon, Niger and Sierra Leone, in addition to future programs to be announced in the coming year. The press conference ...

  Dubai / WAM Discussing the future of the nation’s needs, and those of its cities, will include reviewing education, health, transport infrastructure and water resources during the 3rd edition of the Dubai International Project Management Forum, to be held from October 22-25. Sponsored by the Roads and Transport Authority, RTA, the Forum will seek to link its focus with the ...