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Dubai / Emirates Business Gulf Craft appointed Gregory Yeakle to be their new Chief Executive Officer. One of the world’s largest luxury ship builders, Gulf Craft is based in the UAE. The group has grown into a leading global business over the course of the past 37 years. He succeeds Erwin Bamps who held the position for the past four ...

Abu Dhabi / WAM Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, has successfully concluded its 3rd round of applications for its Regulatory Laboratory (Reglab) programme with a total of 36 local and international new FinTech innovators offering potential solutions for the financial and small-medium enterprise (SME) sectors in the Middle East and Africa region. The ...

Dubai / Emirates Business Emirates, the world’s largest international airline, will introduce regular scheduled commercial Airbus A380 services to Osaka (KIX) in Japan on October 28. The deployment of the double-decker aircraft represents a capacity increase of 38%, and means that travellers will enjoy the comfort of an A380 to and from two Japanese gateways, as the flagship aircraft already ...

Bloomberg Toshiba Corp.’s former memory chip business, acquired this month by a group led by Bain Capital, intends to pursue acquisitions as it prepares for an initial public offering in three years. Toshiba Memory Corp. intends to rely on its own cash flow to sustain capital spending at a pace of hundreds of billions of yen a year, Yuji Sugimoto, ...

Bloomberg Park Hong-sik, a fund manager who correctly predicted the rally of South Korean technology stocks in 2017, has a new bet for this year: Shipbuilders. Four of the world’s five best-performing major shipbuilders this year are from South Korea, including Daewoo Shipbuilding & Marine Engineering Co., which has rallied 94 percent, according to the Bloomberg Intelligence Asia Shipbuilding Valuation ...

Bloomberg Bayer AG is days away from a transformation into the world’s biggest maker of seeds and agricultural chemicals, saying it plans to close its purchase of Monsanto Co. this week. Bayer will retain its name and drop Monsanto’s as it closes the deal on Thursday while raising as much as 26 billion euros ($30 billion) in shares and bonds. ...

Bloomberg Investors are worried that political upheaval in Italy will derail euro-area economic growth. Concerns over the new populist government’s euro-skeptic tendencies and budget-busting spending plans prompted a slide in sentiment among financial-market participants, according to a survey by Sentix. Expectations for the euro-area economy dropped to the lowest since August 2012, when the region was embroiled in a debt ...

Bloomberg US consumer spending rose in April by the most in five months and inflation held at the Federal Reserve’s target, adding to signs of solid economic growth that support the central bank’s plan for gradual interest-rate hikes. Purchases, which account for about 70 percent of the economy, increased 0.6 percent from the prior month, topping forecasts, after a 0.5 ...

Bloomberg Three days after being sworn in, Italy’s new populist government is preparing for one final hurdle before it sets about trying to overhaul European Union rules and the established order: a confidence vote in both houses of parliament. Parliamentary approval will be sought this week for the 18-member cabinet of Prime Minister Giuseppe Conte, a 53-year-old law professor with ...

ABU DHABI / WAM On Monday, the UAE will celebrate the annual Zayed Humanitarian Work Day on 19th Ramadan, which will coincide with the anniversary of the death of the late Sheikh Zayed bin Sultan Al Nahyan. This year’s celebrations will witness the launch of important humanitarian and charity initiatives, through thousands of government and community events organised by public, ...