News

Bloomberg The pound weakened for a third day as U.K. Chancellor of the Exchequer George Osborne lowered the nation’s growth outlook in his annual budget. The U.K. currency dropped the most in three weeks against the dollar on Tuesday. Osborne said Wednesday the Office for Budget Responsibility revised its forecast for U.K. economic growth this year to 2 percent from ...

Bloomberg Gazprom PJSC, the world’s largest natural-gas producer, is tapping the Swiss capital markets with the first foreign benchmark bond sale from Russia this year. The state-run gas monopoly is offering 500 million Swiss francs ($505 million) of notes due Nov. 30, 2018 with a coupon of 3.375 percent, according to a person familiar with the deal who asked not ...

Bloomberg Germany’s government bonds underperformed their higher-yielding euro-area peers as the nation sold 4 billion euros ($4.4 billion) of 10-year debt. Italy’s sovereign bonds advanced, along with most major euro-region securities, while German 10-year bunds were little changed. The yield on Europe’s benchmark securities has climbed about seven basis points since the day before the European Central Bank’s policy decision ...

Bloomberg Deutsche Boerse AG succeeded in its third attempt to acquire London Stock Exchange Group Plc. The deal would create a titan of European trading as long as regulators give it their blessing and rival suitors don’t scupper the agreement. While the companies declared it a merger of equals, Deutsche Boerse stockholders will get 54.4 percent of the enlarged group ...

ABU DHABI / WAM The Industrial Development Bureau, IDB, of the Department of Economic Development, DED, in Abu Dhabi, has registered 193 industrial establishments across the Emirate of Abu Dhabi in the Health, Safety and Environment Management System, EHSMS, during 2015. Registration is part of the requirements of the system’s regulatory framework and the requirements of Abu Dhabi Occupational Safety ...

AJMAN / Emirates Business MBLM, the Brand Intimacy Agency focused on building the ultimate brand relationships, announced the recent launch of a new destination identity for the Emirate of Ajman. Under the patronage of His Highness Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Ajman Executive Council, and in collaboration with the Ajman Tourism ...

Dubai / Emirates Business Emirates National Oil Company (ENOC), through its subsidiary Horizon Terminals Ltd, will commence construction of the underground 16 km Jet Fuel pipeline extension that links its storage terminal in Jebel Ali with Al Maktoum International Airport in Dubai South, in Q4 of 2016. Front End Engineering & Design (FEED) for the pipeline extension to Al Maktoum ...

Dubai / Emirates Business Avaya — leading provider of solutions — has introduced its concept of Digital Transformation-as-a-Service to emerging markets. Launching SmartDXaaS, the company highlighted its range of cloud-based solutions and professional services at the annual Avaya Technology Forum (ATF) in Dubai. The flagship technology event, the latest round in a series that will move on to Ireland and ...

Abu Dhabi / Emirates Business A collection of innovative and ‘disruptive’ financial startup organisations are set to descend upon Abu Dhabi to showcase technological products that will transform the way businesses and individuals interact with financial services. The FinTech pavilion, a feature of the upcoming MEFTECH 2016 exhibition and conference, will provide six growth stage startups with an opportunity to ...

Tokyo / Bloomberg Japan’s major companies are giving lower wage increases next fiscal year as Prime Minister Shinzo Abe’s efforts to boost the economy falter. Toyota Motor Corp. agreed to increase monthly base salaries 1,500 yen ($13) in the year beginning April, according to a statement from the company on Wednesday. That compares with a 4,000 yen hike this fiscal ...