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RIYADH / WAM The GCC-US Summit began on Sunday in Riyadh, Saudi Arabia, with the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud of Saudi Arabia, welcoming GCC leaders and US President Donald Trump. His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, ...

Dubai / Emirates Business Lieutenant General Dahi Khalfan Tamim, Head of Security for Dubai on Sunday opened the 4th Gulf Information Security Expo and Conference (GISEC) – the Middle East’s largest cybersecurity event – which is running concurrently with the Internet of Things Expo (IoTx) 2017 at Dubai World Trade Centre (DWTC) from May 21-23. The three-day GISEC event has ...

Dubai / Emirates Business Dubai Police has welcomed a new member on to its force. He doesn’t need a visa, medical insurance or hours of training, and he is ready to engage with Dubai’s residents and millions of tourists across the city’s streets. The world’s first operational robot policeman, officially joined the line of duty on Sunday, greeting guests at ...

Bloomberg The worst may not be over for Chinese corporate bonds as the government pushes ahead with its campaign to reduce leverage in the debt market, according to investors including Invesco Ltd. The crackdown on the use of borrowed money to invest in financial assets has led to Chinese companies canceling 184 billion yuan ($27 billion) of bond sales this ...

Bloomberg Takata Corp., which is seeking a buyer following the auto industry’s biggest ever safety recall, surged the most in four months after some car makers reached settlements worth $553 million to resolve economic-loss claims tied to the company’s faulty products. Toyota Motor Corp., Subaru Corp., Mazda Motor Corp. and BMW will reimburse out-of-pocket expenses, provide loaners to some vehicle ...

Bloomberg SoftBank Group Corp. and Saudi Arabia formally announced the first round of capital commitments for the largest- ever technology investment fund, as founder Masayoshi Son seeks to accelerate his financing of cutting-edge technologies and startups. More than $93 billion has been secured from backers led by the Japanese company and Saudi Arabia’s Public Investment Fund, SoftBank said in a ...

Bloomberg Broadcom Ltd. and a group led by KKR & Co. are emerging as the two leading bidders for Toshiba Corp.’s semiconductor unit for second-round offers, according to people familiar with the matter. Broadcom, based in San Jose, California, is offering about 2.2 trillion yen ($20 billion) and would face simpler regulatory reviews than some rivals, said one of the ...

Bloomberg The Polish government’s hopes to get special treatment from the European Union for its coal-dependent economy may be quashed by the bloc’s strict approach to limiting the dirty fuel. The EU’s largest eastern economy needs to build more coal-fired power plants to avoid blackouts and an economic slump, Poland’s energy minister said in the southern city of Katowice. That ...

Bloomberg Glencore Plc Chief Executive Officer Ivan Glasenberg said the rise of electric cars will significantly boost demand for minerals including copper and lithium in the coming decades. “The electric vehicle revolution is happening and its impact is likely to be felt faster than expected,” Glasenberg told investors at an industry conference in Barcelona. Almost all carmakers are increasing investm-ent ...

RIYADH / Reuters US and Saudi Arabian companies signed business deals worth tens of billions of dollars on Saturday during a visit by President Donald Trump, as Riyadh seeks help to develop its economy beyond oil. National oil firm Saudi Aramco said it signed $50 billion of agreements with US firms. Energy minister Khalid al-Falih said deals involving all companies ...