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Bloomberg Uber Technologies Inc has joined rival Lyft Inc in filing for an initial public offering (IPO), according to a person familiar with the matter. Like Lyft, Uber this week submitted its IPO filing confidentially to the US Securities and Exchange Commission (SEC), said the person, who asked not to be identified because the matter was private. Unlike Lyft, the ...

Bloomberg A Blackstone Group LP unit that buys stakes in alternative-asset managers is nearing a deal to make a minority investment in GI Partners, according to people familiar with the matter. The size of the stake that Blackstone Strategic Capital Holdings is in talks to acquire couldn’t immediately be learned. The transaction hasn’t been finalised and either side may decide ...

Bloomberg In a few months time, Swedish truck-making giant Volvo AB will deliver its first all-electric model. The battery-powered eight-wheeler will ply the streets of Germany’s northern port city of Hamburg, picking up garbage. While Chief Executive Officer Martin Lundstedt expects to go slow on the initial ramp-up, he sees the project as a harbinger for a rapid proliferation of ...

Bloomberg The streets of Paris are returning to normal as crews remove debris after protests by a grassroots movement forced police to fire tear gas and water cannons just a week after extremely violent clashes led President Emmanuel Macron’s government to back down on fuel tax increases. Police arrested 1,700 people nationwide and held 1,200 in custody after containing several ...

Dubai / Emirates Business Dubai International Financial Centre (DIFC), the leading financial hub in the Middle East, Africa, and South Asia region (Measa), has made great strides in the fintech space, cementing Dubai’s position as one of the world’s top 10 fintech hubs and a preferred growth platform for startups and SMEs. DIFC has hosted the 6th annual International Finance ...

NEW YORK / WAM Lana Nusseibeh, Ambassador and Permanent Representative of the UAE to the UN, announced that the UAE will contribute $5 million to the UN Central Emergency Relief Fund (CERF) for the year 2019 at CERF’s annual High-Level Pledging Event on December 7. “As a testament to CERF’s effectiveness and the UAE’s commitment to its principles of humanity, ...

Sharjah / WAM The Sharjah Chamber of Commerce and Industry (SCCI), represented by the Sharjah Exports Development Centre, will organise a trade mission to Kenya and Uganda, as part of its strategy to find and develop marketing opportunities for local industries in promising foreign markets, and especially in Africa. The chamber’s trade mission will travel on Monday, along with the ...

SHARJAH / WAM Sharjah International Commercial Arbitration Centre, Tahkeem, signed a Memorandum of Understanding (MoU), with the London-based Chartered Institute of Arbitrators (CIArb), for a range of collaborations including support, advice, and training. On behalf of Tahkeem, the MoU was signed by Ahmed Saleh Al-Echlah, Tahkeem Director, and Anthony Abrahams, Director General CIArb, in the presence of Abdulla Deaifis, Tahkeem ...

Bloomberg Huawei Technologies’ chief financial officer was arrested in Canada over potential violations of US sanctions on Iran, provoking outrage from China and complicating thorny trade negotiations just as they enter a critical juncture. China’s embassy in Canada demanded the US and its neighbour “rectify wrongdoings” and free Wanzhou Meng, who is also deputy chairwoman and the daughter of Huawei ...

Bloomberg China’s monthly copper imports dropped for the first time this year as demand wanes due to slowing growth in the world’s biggest consumer of commodities amid a simmering trade row with the US. Oft cited as a market indicator for economic health, the metal has been under pressure since the summer, threatening to unwind a three-year rally. Goldman Sachs ...