Uncategorized

Bloomberg SoftBank Group Corp.’s Masayoshi Son wants his company to grow for 300 years, and he’s willing to pour billions of dollars into far-out technology to make it happen. General Motors Co., a business that is already more than a century old, is now part of that plan. GM said that the SoftBank Vision Fund is investing $2.25 billion in ...

Bloomberg The European Union complained to the World Trade Organization (WTO) about China’s technology-transfer practices in a surprise move that adds to US political pressure on Beijing. On the same day it filed a WTO complaint over US metal tariffs, the EU turned to the global trade arbiter to challenge Chinese intellectual-property (IP)legislation that forces European companies going to China ...

Bloomberg Reliance Communications Ltd. soared in Mumbai trading after it settled a payment dispute with the local unit of Ericsson AB, allowing the debt-laden phone operator to proceed with a planned asset sale to Reliance Jio Infocomm Ltd. and possibly stave off insolvency. RCom, as the company is known, advanced 6.6 percent to close at 18.65 rupees in Mumbai after ...

Bloomberg President Donald Trump ordered his energy secretary to take immediate action to stem power plant closures, arguing that a decline in coal and nuclear electricity is putting the nation’s security at risk. “Impending retirements of fuel-secure power facilities are leading to a rapid depletion of a critical part of our nation’s energy mix and impacting the resilience of our ...

Bloomberg Euro-area inflation hit the fastest pace in more than year, some good news for European Central Bank officials debating the future policy path just as turmoil in Italy revives memories of the debt crisis. The 1.9 percent rate, effectively in line with the ECB’s goal, was up from just 1.2 percent in April and above the 1.6 percent reading ...

Bloomberg Europe’s biggest debt collector, Intrum AB, says it doesn’t see the political turmoil in Italy hurting its business. “The way things look today, and” given “what we have on our books, we think that is very good debt,” said Louise Bergstrom, head of investor relations at the Stockholm-based company. Intrum, which operates in 24 countries, offers credit management services ...

MONTREAL / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, has affirmed UAE’s keenness to enhance joint cooperation with international companies like CAE in order to exchange experiences and achieve mutual benefits that lead to the development of the aviation sector in both countries. He made his remarks during his visit to ...

Dubai / Emirates Business dnata, one of the world’s largest air services providers, expands its partnership with EGYPTAIR in Dubai. Starting Wednesday, dnata will provide the airline with premium cargo handling services from its best-in-class facility at Dubai World Central (DWC). EGYPTAIR will initially operate one cargo flight a week between Dubai and Cairo using an Airbus A300F aircraft. dnata ...

Abu Dhabi / WAM The Federal Tax Authority (FTA), asserted that the new Cabinet Decision issued to regulate Value Added Tax (VAT), incurred by gold and diamond dealers registered with the FTA seeks to establish the adequate legislative environment and infrastructure for the gold and diamonds sector to thrive. The decision also improves cash flow among registered suppliers of gold ...

Abu Dhabi / Emirates Business The UAE Organising Committee of the 24th World Energy Congress announced that Mubadala Investment Company, Abu Dhabi’s leading strategic investment company, will be a Host Sponsor for the 2019 Congress, taking place in Abu Dhabi from September 9-12. Held every three years in select international cities, the World Energy Congress is the world’s largest, longest-running ...