News

  Bloomberg The minister in charge of trade in Finland says there’s a real risk global advances are reversed amid a geopolitical shift that threatens to kill jobs and undermine prosperity. For a small country like Finland — a euro member that shares the European Union’s longest border with Russia — the picture is “very dark,” Kai Mykkanen, foreign trade ...

  AFP German healthcare giant Fresenius said it will buy Spain’s largest private hospital group Quironsalud for 5.76 billion euros ($6.4 billion), adding more than 40 hospitals to its portfolio and expanding its European reach. Shares in Fresenius jumped nearly four percent on the news in early trading on the Frankfurt stock exchange on Tuesday. The deal marks the group’s ...

  AFP The German pharmaceutical and chemicals group Bayer said it would sweeten its offer for US rival Monsanto. In a statement, Bayer said it would raise its offer for the US seed giant to $127.50 per share from $125. That would bring the deal’s total value to almost $66 billion including debt. Monsanto confirmed Bayer’s improved bid for a ...

  AFP Swedish automaker Volvo Cars will form a joint venture with car safety world leader Autoliv to develop software for driverless vehicles, the two companies said on Tuesday. Volvo Cars said in a statement it was forming the joint venture with Autoliv, a Swedish pioneer of the safety belt in the 1950s, to “develop next generation autonomous driving software.” ...

  AP Germany’s finance minister says the country will keep its budget balanced despite increasing spending on research, training and infrastructure, as well as dealing with the huge influx of migrants last year. Germany’s budget has been balanced since 2014 and Finance Minister Wolfgang Schaeuble told Parliament on Tuesday his plans through 2020 foresee it remaining that way. His budget ...

  Bloomberg Swiss economic momentum accelerated in the second quarter, exceeding that of the euro area and hitting its fastest pace since 2014. Gross domestic product rose 0.6 percent in the three months through June, after gaining a revised 0.3 percent in the prior quarter, the State Secretariat for Economic Affairs in Bern said on Tuesday. That jump, helped by ...

  Bloomberg Volkswagen AG will buy a 16.6 percent stake in Navistar International Corp. for $256 million as part of a strategic alliance with the struggling US truckmaker to enter the North American market. VW will pay $15.76 per share for the stake, which is part of a collaboration that includes technology sharing and joint purchasing, Navistar said on Tuesday. ...

  Abu Dhabi / Emirates Business Mental health and ergonomics will be among the key sessions at an Abu Dhabi worker health protection conference this month, as Middle East occupational hygiene professionals obtain fresh insights into a shifting regional dynamic of workplace hazards. The 3rd BOHS Worker Health Protection Conference, co-organised by The Chartered Society for Worker Health Protection (BOHS) ...

  Dubai / Emirates Business After the extraordinary success of its landmark 40th edition, the region’s most popular watch and jewellery show is once again set to cast its magic on jewellery lovers. The 41st MidEast Watch & Jewellery Show will bring global spotlight on the regional jewellery market and its celebrated passion for gold and diamond creations from September ...

  Emirates Business Gulf Navigation Holding PJSC (GulfNav) and Nordic American Tankers (NAT) are pleased to announce that they have signed a new settlement agreement and the long standing debt that GulfNav owed to NAT has now been settled fully and finally pursuant to the terms. The new management of GulfNav have been and are working intensively to clear all ...