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Bloomberg BMW AG is being scrutinised by the US Securities and Exchange Commission (SEC) over its sales reporting practices, months after the regulator extracted a penalty from Fiat Chrysler Automobiles NV over similar issues. The German automaker has been contacted by the SEC and will cooperate fully with its investigation, Phil DiIanni, a spokesman, said by phone. The agency doesn’t ...

Bloomberg Media mogul Shari Redstone and other Viacom Inc directors were accused by a pension fund of selling out the entertainment company’s shareholders by ramming through an $11.7 billion merger with CBS Corp. Redstone, who also is CBS’s controlling shareholder, and her colleagues on Viacom’s board “expropriated potentially billions of dollars from Viacom’s minority stockholders” by agreeing to a deal ...

Bloomberg London commercial real estate deals look set to pick up in 2020, with the political uncertainty that has plagued the market for more than three years finally starting to lift. UK Prime Minister Boris Johnson has a commanding majority in Parliament after his Conservative Party’s election triumph, allowing him to push through his Brexit deal and make good on ...

FREETOWN / WAM Dr Sultan bin Ahmad Sultan Al Jaber, Minister of State, has led a delegation from the UAE on an official working visit to the Republic of Sierra Leone, to discuss ways of enhancing bilateral cooperation between the two friendly countries. During his meeting with President Julius Maada Bio of Sierra Leone, Dr. Al Jaber conveyed the greetings ...

Dubai / WAM Dubai’s Roads and Transport Authority (RTA), launched an online system for handling right-of-way application permits. The system covers main and subsidiary road diversions, using part of the right-of-way, designs of external pavements, and heavy vehicle movement as well as some other services to individuals. “The new system marks a paradigm shift in delivering services to the public ...

Abu Dhabi / WAM Emirates Global Aluminium (EGA) on Monday announced that Al Taweelah alumina refinery in Abu Dhabi has produced one million tonnes of alumina since operations began in April. Al Taweelah alumina refinery is now expected to reach sustained production at its nameplate capacity during the first half of 2020. The refinery is expected to produce some two million ...

Dubai / Emirates Business The Dubai Free Zones Council (DFZC) on Monday signed a Memorandum of Understanding (MoU) with Dubai Exports in a bid to boost business opportunities, foreign trade and the volume and value of exports. The MoU aims to reinforce Dubai’s position as a global destination for quality exports from various economic and service sectors, and free zones ...

Bloomberg India’s Prime Minister Narendra Modi’s political troubles deepened with his Bharatiya Janata Party lost control of the mineral-rich eastern state of Jharkhand in poll results out Monday. The results come as the government struggles to contain growing nationwide protests against a new federal religion-based citizenship law that’s seen at least 24 people killed in clashes between police and demonstrators. ...

Bloomberg A Vietnam-based hacking group is learning from China’s playbook, using increasingly sophisticated cyber-attacks to spy on competitors and help Vietnam catch up to global competitors, according to cybersecurity experts. In the last two years, the group, which is believed to be tied to the Vietnamese government and known as APT32, has ramped up its cyber-espionage, particularly in southeast Asia, ...

Bloomberg China unveiled its latest slate of measures designed to bolster private-sector businesses as policy makers double down on efforts to support what is by far the country’s largest source of jobs. The steps announced by the State Council, China’s cabinet, aim to help private firms gain better market access and equal regulatory treatment as their state-owned peers. Among actions ...