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Bloomberg GAM Holding AG forecast a large loss, scrapped its dividend and plans to eliminate 10 percent of jobs as the firm struggles to contain a scandal prompted by the suspension of a star fund manager. Shares of the Swiss asset manager fell as much as 17 percent after the company outlined a 925 million-franc ($931 million) loss for the ...

Bloomberg Cosco Shipping Holdings Co’s sale of a container terminal in Long Beach, California has drawn interest from potential buyers including Blackstone Group LP and KKR & Co, people familiar with the matter said. EQT Partners and an arm of Macquarie Group Ltd have also been studying a deal for the asset, the people said, asking not to be identified ...

Bloomberg In the corridors of the UK Parliament, an idea that four months ago seemed laughable is now being seriously discussed. Is another referendum a way out of the Brexit deadlock? Speaking privately, some ministers raise it unprompted. At a press conference, leaders of the smaller opposition parties urged the government to consider it as a contingency worth preparing for. ...

Dubai / Emirates Business Leading economic and business experts portrayed a positive outlook for 2019 at the Arab Strategy Forum (ASF) 2018 in a session titled “Arab World Economy…What’s Next”. Navigating the existing economic challenges facing the region, including the need to create employment opportunities, adapting to technology and fluctuating oil prices, the session posed a question: “Do economic considerations ...

AL AIN / WAM Adnoc Fertilisers, an affiliate of Adnoc Group, hosted at Qasr Al Muwaiji in Al Ain city the 3rd Agricultural Field workshop in cooperation with the Arab Fertiliser Asso- -ciation and Saudi Arabian Basic Industries Corporation (SABIC). The event, organised for the first time in the UAE, aims to showcase Adnoc Fertilizers’ commitment to the community by ...

Abu Dhabi / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, revealed that the UAE economy had achieved several developmental milestones in 2018, which have contributed to stimulating its growth, enhancing its competitiveness and ensuring the sustainable development of the economy. The Minister added that the country has reinforced its regional and global reputation as an economic hub, thanks ...

Sharjah / WAM Expo Centre Sharjah held discussions with a number of government officials and representatives of economic sectors in Kenya, where they reviewed ways to enhance the participation of Kenyan institutions, companies, investors, and businesspeople in the global specialised exhibitions that the centre organises throughout the year. These discussions were held during the centre’s participation in the trade mission ...

Bloomberg SoftBank Vision Fund and Alibaba Group Holding Ltd. led a $1.1 billion investment in PT Tokopedia, a financing round that will help Indonesia’s biggest online marketplace venture beyond e-commerce into new areas such as air tickets and insurance. The company was valued at more than $7 billion after the funding, according to people familiar with the matter, who asked ...

Bloomberg President Moon Jae-in’s income-led growth campaign will harm South Korea’s economy next year by weakening job creation, according to a majority of economists surveyed by Bloomberg. More than three-quarters of the 30 experts polled forecast employment growth will slow as the government pushes ahead with an 11 percent hike in the minimum wage, adding to the 16 percent increase ...

Bloomberg UK companies are fretting over the prospect of a no-deal departure from the European Union, with the government on the brink of collapse and Brexit negotiations likely delayed into the new year. Facing defeat on her Brexit accord, Prime Minister Theresa May this week postponed a vote on the plan. The delay in the Brexit vote means British businesses ...