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Bloomberg German online payments firm Wirecard AG has seen its stock plunge by more than a third in recent days on reports of accounting misdeeds at its Singapore unit. Now, the company is fighting back by questioning the foundations of the allegations. A preliminary review last May by a respected Singapore law firm lists allegations of potential financial irregularities, money ...

Bloomberg Publicis Groupe SA is setting off alarm bells on Madison Avenue as the ad industry’s earnings season gets under way. The French owner of Saatchi & Saatchi and Leo Burnett Worldwide suffered a surprise drop in fourth-quarter sales, blaming cuts in ad spending by consumer brands in the US. So-called organic revenue fell 0.3 percent in the quarter, missing ...

Bloomberg Call it the Masayoshi Son mathematical distortion field. The founder of SoftBank Group Corp. added about 1.94 trillion yen ($17.6 billion) to the market value of his company— by unveiling a plan to buy back shares worth less than a third of that amount. Based on his own stake, Son’s net worth rose by about $5 billion. His fortune ...

Bloomberg India’s biggest foreign-owned money manager expects the nation’s economic growth and company earnings to be insulated from national elections even as stock market volatility increases in the run-up to voting. “Elections can only boost or dampen sentiment depending on the news flow, but they won’t massively impact the underlying earnings and economic growth of India,” said Anand Radhakrishnan, chief ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Wednesday attended part of the Third Forum of UAE’s Ambassadors and Representatives of Diplomatic Missions, which started on February 2 and will wrap up on Thursday. His Highness Sheikh Mohamed attended panel sessions ...

Dubai / WAM The total number of operational restaurants and cafes in the emirate of Dubai reached 11,813 at the end of 2018, according to a report issued by the Business Registration & Licensing (BRL) sector in the Department of Economic Development (DED), Dubai. This increase was driven by Dubai’s sophisticated infrastructure and its conducive environment for doing business. The ...

DUBAI / WAM Dubai SME, an agency of the Department of Economic Development in Dubai that helps develop the Small and Medium-sized Enterprise (SME), sector, and Jumbo 3D Manufacturing, part of the Jumbo Group, signed a Memorandum of Understanding (MoU), to drive awareness about 3D manufacturing technology. Abdul Baset Al Janahi, CEO, Dubai SME and Arvind Agrawal, CEO, Jumbo Group, ...

DUBAI / emirates business Breakbulk Middle East, the GCC’s leading breakbulk and project cargo event, is doing its part to actively build up the female maritime landscape. This year’s two-day conference will be held under the patronage of Dr. Abdullah Belhaif Al Nuaimi, the UAE Minister of Infrastructure Development and the Chairman of Federal Transport Authority for Land and Maritime ...

Bloomberg President Donald Trump pledged to bring home US troops from Syria with IS nearly defeated and to negotiate an exit from Afghanistan after almost two decades of war, saying in his State of the Union address that “great nations do not fight endless wars.” “Today, we have liberated virtually all of that territory from the grip of these bloodthirsty ...

Bloomberg Indonesia’s economy grew faster than economists expected last quarter, showing resilience in the face of a series of interest-rate hikes and weaker global demand. Gross domestic product (GDP) rose 5.18 percent in the fourth quarter from a year ago, compared with the 5.1 percent median estimate in a Bloomberg survey of economists. That took expansion for the whole year ...