News

  Bloomberg Donald Trump may be good for the London housing market. That’s according to property website operator Rightmove, which says Trump’s shock election victory could spur the return of international investors seeking a safe haven. While asking prices in the capital fell for a fifth month, the 0.3 percent drop was much smaller than the 1.5 percent average seen ...

  Bloomberg Novartis AG is in talks to acquire US generic-drugs maker Amneal Pharmaceuticals LLC as the Swiss health-care company seeks to bolster its Sandoz business amid consolidation in the industry, according to people familiar with the matter. Novartis and Amneal may reach an agreement soon, the people said, asking not to be identified because the deliberations are private. No ...

  Bloomberg Siemens AG agreed to buy Mentor Graphics Corp. for $4.5 billion in its biggest acquisition since 2014 as the German engineering company extends its industrial software capability. Siemens will pay $37.25 a share in cash for Wilsonville, Oregon-based Mentor, the industrial giant said in a statement on Monday. That’s 21 percent above the closing price on Friday. Elliott ...

  ABU DHABI / WAM Aldar Properties has awarded the early works contract for the first phase of ‘Mayan’, a residential development located on Yas Island, to Dutch Foundation and Concrete Rehabilitation Company, WLL. The AED30 million contract provides for shoring, piling and earthworks for Mayan’s 512 apartments which are spread across five buildings. The Abu Dhabi-based full-service engineering foundation ...

  ABU DHABI / WAM Ibrahim Al-Mahmoud, First Deputy Chairman of the Abu Dhabi Chamber of Commerce and Industry, met with a Paraguayan ministerial delegation and discussed ways to enhance cooperation between companies and businessmen from both sides. The delegation included Gustavo Leite, Minister of Industry and Commerce, and Santiago Pena, Minister of Finance. During the meeting, the parties also ...

  DUBAI / WAM In his capacity as Ruler of Dubai, Vice President and Prime Minister of the United Arab Emirates, His Highness Sheikh Mohammed bin Rashid al Maktoum, issued Law No. 15 of 2016 on the regulations issued by the authorities of free zones and special development zones in Dubai. The new Law is applicable to all free zones ...

  ABU DHABI / WAM Government revenues from the e-Dirham system during the first nine months of this year stood at AED 5.8bn. The number of e-Dirham transactions rose by 20% year on year, to reach 15 million transactions during the first nine months of 2016 as compared to around 12.5 million transactions during the same period in 2015, according ...

  Fujairah / WAM Fujairah, which hosts the Middle East’s largest commercial storage capacity for refined oil products, on Sunday appointed S and P Global Platts to distribute the Emirate’s weekly inventory data starting in early 2017 as part of its effort to position the Indian Ocean port-city as a global oil trading and storage hub. The Fujairah Oil Industry Zone ...

  Dubai / Emirates Business Dubai Wholesale City, a global integrated wholesale trading hub and member of TECOM Group, signed a Memorandum of Understanding (MoU) with Ningxia province of the People’s Republic of China to enhance mutual collaboration and promote economic, trade and investment relations. Chief Executive Officer of Dubai Wholesale City, Abdulla Belhoul and Governor of the Ningxia province, ...

  Dubai / Emirates Business HE Butti Saeed Al Ghandi, Second Vice-Chairman of the Dubai World Trade Centre, inaugurated on Sunday the 4th Middle East Cleaning Technology Week (MECTW) at the Dubai International Convention and Exhibition Centre (DICEC). With over 130 companies participating, MECTW is expected to host over 4,000 cleaning industry professionals until November 15. Following the inauguration ceremony, ...