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Bloomberg ZTE Corp. pledged to overhaul its flawed management and internal culture after striking a deal with the US to get back in business after a damaging two-month hiatus. In a memo to employees seen by Bloomberg News, Chairman Yin Yimin promised to hold “relevant people” accountable for a ban on purchases of American technology that threatened to smother China’s ...

Bloomberg Indians increase purchases of refrigerators and TV sets around election time as the government puts more money in the hands of voters, which stands to benefit some of the world’s most profitable consumer finance companies. Prime Minister Narendra Modi is following his predecessor in boosting spending before polls due early 2019, a practice that has sparked surges in stocks ...

Bloomberg It’s the $85 billion question that could hold the key to how mega deals are made for years to come. When US District Judge Richard Leon hands down his decision on AT&T Inc.’s proposed takeover of Time Warner Inc. next week, the likes of Comcast Corp., Verizon Communications Inc., Cigna Corp. and CVS Health Corp. will be watching keenly. ...

Bloomberg Verizon Communications Inc. named Hans Vestberg as its next chief executive officer, picking a leader who plans to stay the course even as all three of the company’s major wireless rivals are pursuing megadeals. The move will take effect Aug. 1, ending months of speculation over who takes over at the largest US wireless carrier in the midst of ...

Bloomberg Daimler AG could split its truck unit and passenger-car business into separate companies, but it’s not a necessity and won’t happen unless stockholders want it to. “It’s not so much an issue of management, it’s more of the shareholders, what they want to do,” Martin Daum, Chief Executive Officer of Daimler’s truck unit, said in an interview at the ...

Bloomberg Israeli troops killed four Palestinians along the Gaza Strip border on June 08 as the Hamas group that rules the coastal strip struggled to revive a flagging protest campaign. About 10,000 people protested at five spots along the border, sending flaming kites and airborne pipe bombs into Israel and hurling rocks and grenades, the Israeli army said. At least ...

JEDDAH / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince, Deputy Prime Minister, Minister of Defense of the Kingdom of Saudi Arabia and President of Saudi Council of Economic and Development Affairs chaired the first meeting ...

DUBAI / WAM The Mohammed Bin Rashid Space Centre  announced that 95 out of the 4,022 applicants have been shortlisted for the UAE Astronaut Programme, part of the UAE National Space Programme. It aims to train and prepare a team of Emiratis to be sent to space for various scientific missions. The programme was announced by His Highness Sheikh Mohammed ...

Sharjah / Emirates Business Gulftainer, the world’s largest, privately owned, independent port operator based in UAE, announced that it had recorded gross crane productivity of 32.2 crane moves per hour at its flagship gateway terminal, Sharjah Container Terminal (SCT), in Port Khalid. The milestone feat achieved in April 2018, compares to the industry average of 25 crane moves per hour, ...

Abu Dhabi / WAM Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, and the Hong Kong Securities and Futures Commission, HK-SFC, have entered into a cooperation agreement to jointly promote and support financial services innovation in the UAE and Hong Kong. The agreement was signed between Philippe Richard, Director of International Affairs of the Financial Services ...