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Bloomberg KKR & Co. agreed to sell Singapore hard-drive component maker MMI Holdings Ltd. for about $645 million including debt, people with knowledge of the matter said, exiting the oldest Asian investment listed in its portfolio. KKR signed a deal to sell MMI, which it has owned for 11 years, to a Chinese buyout group led by an affiliate of ...

Bloomberg The cleanup from Typhoon Mangkhut began in Hong Kong and southern China on Monday after the storm left at least four dead in Guangdong province, damaged buildings and disrupted flights throughout the region. Mangkhut, the world’s most powerful storm this year, was blamed for more than 200 million yuan ($29.1 million) of damage in the southern province of Guangdong, ...

Bloomberg Mixed messages coming from the US on the trade war with China could sink prospective negotiations before they begin, damaging prospects for a resolution to the growing dispute. With President Donald Trump telling aides to proceed with additional tariffs on Chinese products, the Chinese government is considering declining the offer of talks, according to a Wall Street Journal report, ...

Bloomberg Fiat Chrysler Automobiles NV will evaluate other potential buyers for its Magneti Marelli parts unit because the carmaker views a bid made by KKR & Co. as too low, people familiar with the matter said. KKR offered less than the $7 billion minimum valuation sought by Fiat, which ended the exclusivity of the talks, said the people, who asked ...

Bloomberg Americans are divided over whether US college endowments should have to pay a new federal tax, according to a national survey on higher education. Fifty percent of respondents sided with the wealthy private schools while 43 percent agreed the tax should be levied, and 7 percent were unsure, according to data published on Monday by Boston public media producer ...

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, has approved an AED50 billion ($13.6 billion) development plan for Abu Dhabi. The three-year development accelerator programme, dubbed ‘Ghadan 21’, was approved during a meeting with members of the Abu Dhabi Executive Committee. His ...

Dubai / WAM The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has adopted a resolution to support the industrial sector by introducing reduced fees of electricity consumption for large, medium and small factories. “We launched today an initiative to support the industry sector and ...

ABU DHABI / WAM­­­­­ Abu Dhabi Global Market (ADGM) considers it essential to develop alternative financing solutions to bridge the commercial funding gap in the UAE and the Middle East and North Africa Region, Richard Teng, the Chief Executive Officer of Financial Services Regulatory Authority (FSRA) at ADGM. Speaking to the Emirates News Agency (WAM), on the ADGM FinTech Abu ...

DUBAI / WAM Dubai Silicon Oasis (DSO), the integrated free zone technology park, will explore the future of smart cities and their success factors at its third quarterly Dtec Forum of 2018. Set to run on September 18 at the Dubai Technology Entrepreneur Centre (Dtec), the largest technology incubation hub in the region that is wholly owned by Dubai Silicon ...

Bloomberg Moon Jae-in has more than world peace riding on a successful summit with North Korean leader Kim Jong-un this week: His domestic agenda is also at stake. Moon’s trip to North Korea’s capital—the first such visit by a South Korean leader in 11 years—will again test his ability to bridge the gap between two volatile leaders, Kim and US ...