Bloomberg Xerox Corp.’s top executive and six board members agreed to step down in a victory for Carl Icahn’s battle against the company’s planned $6.1 billion takeover by Fujifilm Holdings Corp. The resignations, which include Chief Executive Officer Jeffrey Jacobson and Chairman Robert Keegan, are part of an agreement with activist investors to settle a lawsuit that will put in ...
Read More »
Abu Dhabi / Emirates Business Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for corporates and individuals, announced on Tuesday its financial results for the first quarter of 2018. The Company reported strong first quarter with net profit increased by 28.6% to AED 95.2 million. Commenting on the strong results, His Excellency Sheikh Mohamed ...
Read More »
Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, inaugurated the 200 megawatts (MW) first stage of the 800MW third phase of the Mohammed bin Rashid Al Maktoum Solar Park. The solar park is one of the major projects that the Dubai Electricity and Water Authority (DEWA), is ...
Read More »
Dubai / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, said that a persistent focus on innovation and government initiatives to create a variety of new investment opportunities are reinforcing the UAE’s position as the region’s entrepreneurial hub. Sheikh Hamdan added that the UAE has embraced ...
Read More »
Dubai / Emirates Business The 16th edition of the Middle East and Africa’s (MEA) largest automotive aftermarket trade and networking event opened on Tuesday in Dubai, featuring 1,812 exhibitors from 61 countries. Running for three days and spanning 63,350sqm at the Dubai International Convention and Exhibition Centre, Automechanika Dubai 2018 was flagged off by His Excellency Mattar Al Tayer, the ...
Read More »
Bloomberg President Donald Trump said Monday his administration is considering holding a potential meeting with North Korea’s Kim Jong-un at the demilitarised zone marking the North’s border with South Korea, or in other countries, including Singapore. Trump, speaking at a joint White House press conference with Nigerian President Muhammadu Buhari, also expressed optimism that the summit would take place and ...
Read More »
Bloomberg The lone non-Asian trade minister at last week’s Southeast Asian leaders’ summit in Singapore, UK Trade Minister Greg Hands had plenty of room to make the case that Brexit won’t interfere with his country’s ambitious plans in the region. As it scrambles to roll over some 40 European Union trade deals into individual agreements with the UK, London has ...
Read More »
Bloomberg Sony Corp. shares fell the most in almost two years after the electronics maker missed profit estimates and forecast weaker sales and operating profits across most of its business units. The stock fell 6.1 percent to 5,073 yen on Tuesday in Tokyo, the biggest one-day drop since June 2016 and the first trading session after last week’s earnings. The ...
Read More »
Bloomberg Brexit is helping to drive big year for UK mergers. Dealmaking by UK companies such as J Sainsbury Plc, GlaxoSmithKline Plc and Sky Plc is poised to hit a record this year amid a surge in foreign takeover interest and domestic consolidation as local businesses brace for Brexit. Acquisitions involving British firms have soared to more than $275 billion ...
Read More »
Bloomberg President Donald Trump says his trade actions may cause “a little pain†in the short term, and a new study shows US agricultural workers could be hurt the most. The tariffs on $50 billion in Chinese imports that Trump has proposed, plus promised retaliatory duties by China, would reduce US gross domestic product by $2.9 billion and cost almost ...
Read More »
The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.