News

  AP United States companies are cutting merger deals at a record pace even though antitrust regulators have moved to oppose several recent high-profile combinations. So far this month, companies have agreed to mergers and acquisitions valued at more than $251 billion, financial-information provider Dealogic said. That surpasses the previous record of $240 billion in July 2015. Last week alone ...

  Bloomberg French growth rebounded in the third quarter as part of a start-stop expansion that leaves Europe’s second-largest economy lagging its neighbors such as Spain. Gross domestic product in France expanded 0.2 percent in the three months through September after shrinking 0.1 percent in the previous period, national statistics office Insee said. That compares with a 0.3 percent increase ...

  Bloomberg General Electric Co. has no intention of letting its 3-D printing ambitions die. A day after shareholder resistance derailed an acquisition in that market, GE said it would buy a 75 percent stake in closely held Concept Laser GmbH for $599 million. At the same time, GE bumped up the offer for Swedish 3D printing company Arcam AB ...

  Reuters Container shipping firm Islamic Republic of Iran Shipping Lines (IRISL) expects to have regained by the middle of next year the business lost while Iran was subject to international sanctions, its chairman said. International sanctions were lifted in January following an agreement with world powers on Tehran’s disputed nuclear programme. “Step by step the problems have been resolved ...

  Bloomberg Egypt has reached a $2.7 billion currency swap agreement with China, moving closer to mustering the outside financing needed to win final approval of a $12 billion International Monetary Fund loan. The agreement is being processed by the Chinese authorities, an Egyptian central bank official said Sunday, speaking on condition of anonymity. The official didn’t provide additional details ...

  Reuters Hyundai Engineering and Construction signed a contract to build a project for Saudi Aramco’s Uthmaniyah plant for 833.10 billion won ($727 million), the South Korean company said. Hyundai expects the contract to be completed by Nov. 26 2019, it said in a statement. Sources told Reuters on Thursday that Hyundai had won the deal after offering discounts to ...

  DUBAI / WAM Greece has become the latest nation to confirm its commitment to participate in Expo 2020 Dubai, building on the strong links between the two countries in various fields Expo 2020 Dubai, announced on Saturday that Greece confirmed its official participation in Expo 2020 through a letter from the Greek Prime Minister, Alexis Tsipras, addressed to His ...

  DUBAI / WAM The first Dubai Chamber of Commerce trade office in China was opened this week. As part of its strategy to reach out to promising markets and promote Dubai as a global business and trade hub, the Dubai Chamber of Commerce and Industry opened its 7th international office in Chinese city of Shanghai on Saturday. The opening ...

ABU DHABI / WAM Abu Dhabi-based Masdar Institute of Science Technology, UK-based QinetiQ, a leading technology development and engineering company operating primarily in the defense, security and aerospace markets, and Swiss-based all-terrain vehicle (ATV) developer Sand-X Motors, have announced their collaboration to develop an Unmanned Rover System (URS) on Saturday at the URS award kick-off meeting, which was hosted by ...

  ABU DHABI / WAM The overall reading of the results of development indices in Q2 2016 reflects higher optimism and confidence among consumers and business community in the Emirate’s economic conditions, according to a new report released on Saturday by Studies Directorate of Abu Dhabi Department of Economic Development. This follows the moderate economic growth in Q1 of 2016, ...