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Bloomberg Theresa May looked set to seek a long extension to the UK’s European Union membership after the House of Commons speaker torpedoed her plan to win Parliamentary approval for her deal to leave the bloc. Officials privately accused Speaker John Bercow of over-reaching his powers to help pro-EU politicians deliver a softer divorce and said another vote on May’s ...

Bloomberg India’s Ola is raising $300 million from Hyundai Motor Group, giving the ride-hailing startup more capital to compete for drivers and customers against Uber Technologies just as the US rival prepares for an IPO. The deal values Ola at about $6 billion, said a person familiar with the matter, asking not to be named. The Bangalore-based company will continue ...

Bloomberg General Electric Co. will burn as much as $2 billion of cash this year as the manufacturer tries to repair its balance sheet and put its reeling power business back on stable ground. Free cash flow from the company’s industrial businesses will decline in 2019 as restructuring costs hit at least $2.4 billion, GE said in a presentation detailing ...

Bloomberg The UK labour market remained in robust health in the three months through January, despite a Brexit-induced slowdown in the overall economy. Employment hit a record high after the biggest jump in more than three years and underlying pay growth maintained its fastest pace in more than a decade as companies struggled to fill vacancies, Office for National Statistics ...

Bloomberg Big companies often leave their suppliers hanging for weeks without pay, but Vodafone Group Plc is taking this a step further: it’s investing in a fund that makes money off the delay. The British phone operator poured 1 billion euros ($1.1 billion) into the 2.4 billion-euro fund run by beleaguered Swiss asset manager GAM Holding AG, which generates returns ...

Dubai / WAM On the launch of the third round of Arab Hope Makers initiative, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said that “every person has a capacity to give and a talent to invest in serving societies.” He added, “Water drops make a river, and reigniting ...

FUJAIRAH / WAM The National Bank of Fujairah (NBF), held its Annual General Assembly Meeting on Monday, where shareholders approved the distribution of profits of 20 percent of paid-up capital. This took the form of cash dividends of 7.5 percent (AED 23.3 million) and bonus shares of 12.5 percent (AED205.6 million) of paid-up capital. The bank’s shareholders also approved the ...

SHARJAH / WAM The 6th edition of the Real Estate Investment Exhibition, ACRES 2019, will kick off on Tuesday until March 21, under the patronage of His Highness Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah. ACRES 2019, which will be held at Expo Sharjah, will be witnessing the participation of a large ...

Abu Dhabi / Emirates Business LuLu, the largest hypermarket chain in the region, launched its annual British food festival “Food is Great Britain: Truly British, Truly Delicious”. The week-long fest highlights a wide variety of food products imported from the UK, which is available at great discounts from March 18 to 26. The launch event was inaugurated by H.E Patrick ...

Dubai / WAM The UAE ranked 8th on the Positivity Index of Nations, an annual global report published by the Positive Economy Institute since 2013, which measures positive economy indicators in OECD member countries. The UAE, which is being included in the Index as a non-OECD country for the first time since its creation, outperformed 27 out of the 34 ...