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Abu Dhabi / WAM The United Arab Emirates is Moldova’s gate to other GCC states and the entire MENA region, said Tudor Ulianovschi, Minister of Foreign Affairs and European Integration of the Republic of Moldova, before opening his country’s embassy in the UAE, which, he said, will serve the interests of the Moldovan community, not only in the Emirates, but ...

Abu Dhabi / WAM ADNOC Downstream Investment Forum, which will start in Abu Dhabi on Sunday, is a step forward in ADNOC’s innovative initiatives launched over the past years to provide added value to key companies, subsidiaries and the national economy in general. Commenting on the forum, Hamad Al Shamsi, Secretary-General of the Supreme Petroleum Council, underlined the significant role ...

TOKYO / WAM Mohammed bin Ahmed Al Bowardi, Minister of State for Defence Affairs, and Tomohiro Yamamoto, Japanese Minister of State for Defence, signed a joint cooperation agreement between the UAE and Japan in security and defence affairs. The agreement aims to exchange cooperation and defence expertise to support and develop strategic relations between the two countries and work to ...

Bloomberg The outlook for Indian online retailer Flipkart was decidedly gloomy when Kalyan Krishnamurthy became chief executive officer in January 2017. The startup’s valuation was dropping, fundraising was more difficult and Amazon.com Inc. was pledging $5 billion-plus to siphon away customers. So the 46-year-old former hedge-fund manager took some risks. He fired senior managers, set more-aggressive sales targets, boosted spending ...

Bloomberg Mazda Motor Corp. named Akira Marumoto its next chief executive officer to lead a revival in earnings growth in the face of a slowing US market. Marumoto, an executive vice president who heads operations in the US, will replace Masamichi Kogai after the change is ratified at an annual shareholder meeting on June 26, Mazda said. Kogai will become ...

Bloomberg President Donald Trump’s plan to lower US drug prices avoids some of the harshest steps that the pharmaceutical industry and the network of companies that distribute its products feared. Calling his proposal the most sweeping attempt in US history to lower drug prices, Trump wants to increase competition for medicines, cut list prices and reduce patients’ out-of-pocket costs. Yet ...

Bloomberg Investors gave a resounding thumbs-down to the partial spinoff of Axa SA’s US business, dealing a blow to boss Thomas Buberl’s strategy for the French insurer. The sale of part of its US operations raised almost $1 billion less than the company had hoped for, and comes amid concern among shareholders at the $15.3 billion takeover of XL Group ...

Bloomberg 21st Century Fox Inc., Rupert Murdoch’s film and TV company, reported weaker earnings in its latest quarter, even as a looming deal to offload most of its entertainment assets took the focus off the results. Excluding some items, profit amounted to 51 cents a share last quarter, New York-based Fox said. That missed the average of analysts’ estimates of ...

Bloomberg Former Malaysian Prime Minister Najib Razak resigned on Saturday as head of his party and was slapped with a travel ban as he faces the prospect his successor reopens a probe into a multi-billion dollar scandal at a state fund. Najib announced he would step down as president of the United Malays National Organisation, and as chairman of the ...

Sharjah / WAM His Highness Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, inaugurated on Wednesday, the “Exit Show 13” of the Students’ Graduation Projects of the College of Fine Arts and Design (CFAD) at the University of Sharjah (UoS). After cutting the ceremonial ribbon, the Ruler of Sharjah toured the four galleries of ...