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ABU DHABI / WAM This year, the Year of Zayed, the August 6 marks the 52nd anniversary of the late Sheikh Zayed bin Sultan Al Nahyan’s accession as Ruler of Abu Dhabi. Since this momentous occasion, the UAE’s development journey began to take shape, with the Union forming shortly after on December 2, 1971, under the leadership of the Founding ...

Dubai / Emirates Business The Dubai Chamber of Commerce and Industry has announced the opening of a representative office in India, which will be tasked with identifying new business opportunities for Chamber members, attracting Indian companies to Dubai and expanding bilateral trade and investment. The new office, located in Mumbai, is the second representative office to be opened by the ...

ABU DHABI / WAM Yahsat, a leading global satellite operator based in the UAE and wholly owned by Mubadala Investment Company, on Sunday completed the acquisition of a majority and controlling stake in the mobile satellite services operator Thuraya. The acquisition of the UAE’s first home grown satellite operator, Thuraya, is set to significantly expand Yahsat’s current satellite solutions portfolio ...

DUBAI / WAM The Emirates Central Cooling Systems Corporation (Empow-er), world’s largest district cooling services provider, announ- ced its sponsorship as a global partner in 5th World Green Economy Summit (WGES 2018). WGES will be held under the patronage of the Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, on October 24 ...

Bloomberg Venezuela’s President Nicolas Maduro escaped unharmed in an attack by explosive-laden drones that wounded officers and sent soldiers fleeing during a military parade in Caracas. The incident, broadcast live on state television, occurred as Maduro spoke, flanked by his wife and defense minister. An explosion was heard and the 55-year-old autocrat was led off stage. Military personnel broke ranks ...

Bloomberg The Brexit negotiations are more likely to end in failure than in success, UK International Trade Secretary Liam Fox said, adding to a growing sense that Britain is heading for a messy divorce from the European Union. There’s a 60 percent likelihood of a no-deal outcome, Fox told the Sunday Times in an interview. He blamed the European Commission ...

Bloomberg Comcast Corp. doesn’t have to raise its offer for Sky Plc, at least not yet. A ruling from UK takeover authorities kept a floor price of 14 pounds per share for Sky, below the US cable giant’s overall $34 billion bid. That means Comcast, whose offer for the UK pay-TV company is currently the highest, doesn’t have to increase ...

Bloomberg It’s no secret: US businesses are dealing with rising costs, from labor to raw materials to shipping expenses. But many are already starting to see the light at the end of the tunnel as the economy works its way through what may prove to be temporary inflationary pressures. Take Clorox Co., for example. The Oakland, California-based consumer-products maker’s chief ...

Bloomberg Tata Group may have to pay around $1.3 billion in dues to the Indian government to rescue the proposed sale of its mobile-phone business to Bharti Airtel Ltd., people familiar with the matter said. The department of telecommunications is demanding that Tata Teleservices Ltd. clear any obligations to the government before it approves the deal that was struck in ...

Bloomberg Huawei Technologies Co., which just edged past Apple Inc. to become the world’s second-largest smartphone maker, wants to be top of the heap before the end of 2019. The Chinese giant shipped more than 95 million phones in the first six months, up about 30 percent from a year earlier. Consumer division chief Richard Yu said he wants Huawei ...