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Bloomberg Embattled Anbang Insurance Group Co.’s plan to convert much of Manhattan’s Waldorf Astoria hotel into luxury condos has been the subject of speculation from Wall Street earnings calls to the pages of the New York Post. Now, evidence that the project is going forward is emerging from an unlikely source: a moving van owned by a little-known religious group. ...

Bloomberg South Korean President Moon Jae-in will send his top national-security adviser as well as his chief spy as special envoys to Pyongyang on Monday in a bid to persuade Kim Jong Un to open talks with Washington, in the latest bid to avoid a potential conflict over the country’s nuclear program. The 10-member group will be led by Chung ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, has affirmed that the UAE supports all forms of creativity and innovation and will continue its efforts to bring happiness and greater welfare to its people. His Highness Sheikh Mohammed made the remarks on Saturday while visiting the Dubai ...

Abu Dhabi / Emirates Business The Ministry of Climate Change and Environment (MOCCAE) has started the implementation of the first phase of its initiative to cultivate three coral gardens over a total area of 850 square meters in Ras Al Khaimah, Umm Al Quwain, and Ajman. As part of the initiative, MOCCAE has succeeded in cultivating 24 species of corals ...

DUBAI / WAM The Ministry of Economy (MoE), the Abu Dhabi Department of Economic Development (DED), and the Emirates Scientists Council (ESC), have signed a joint cooperation agreement to reinforce partnership between the three parties to support the Technology and Innovation Pioneers Platform (TIP), and the UAE Council of Sciences to encourage national inventors and innovators to continue their creative ...

DUBAI / WAM Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of Roads and Transport Authority (RTA), stressed the importance of adopting innovative solutions for financing RTA’s future projects, establishing creative models for funding mobility projects, and boosting the public-private partnership (PPP). Al Tayer made these remarks during the opening of the Innovation Lab about the ...

Bloomberg It was supposed to be the crowning achievement of Malaysian tycoon T. Ananda Krishnan’s five-decade career. But his $7 billion bet on mobile carrier Aircel Ltd. may instead go down as one of the biggest-ever flops by a foreign investor in India, a stark reminder that doing business in the world’s fastest-growing major economy is often a lot tougher ...

Bloomberg In four years, Lenovo Group Ltd. went from would-be Apple Inc. challenger to an also-ran in smartphones and datacenter servers. Now it’s got a comeback plan, but some investors don’t buy it. China’s erstwhile tech darling, which lost its perch atop the PC market to HP Inc. in 2017, has shed two-thirds of its value since hitting a 15-year ...

Bloomberg President Donald Trump set the stage for a trade war after slapping tariffs on steel and aluminum imports, daring other countries to retaliate and leading the European Union to warn that it would target iconic American brands. Hours after Trump tweeted that “trade wars are good, and easy to win,” European Commission President Jean-Claude Juncker said the bloc is ...

Bloomberg UK Prime Minister Theresa May’s vision for post-Brexit Britain would see some industries stay aligned with EU rules—with others breaking free entirely. Her plan could change how banks operate as well as raise costs for holidaymakers using their smartphones. Below are some key takeaways from her speech in central London. Financial Services UK-based banks and other financial services companies will ...