Bloomberg TCI Co is in talks with a health food maker about a potential acquisition this year that’s aimed at diversifying its production base, the company says. The company hopes consumers will be more interested in the products it makes if it has factories outside China and Taiwan, executive deputy general manager William Liao said in an interview. TCI is ...

Bloomberg Four Seasons Hotels & Resorts announced that it’s in the process of converting another private jet to its fleet in 2021, to replace the current one, which premiered in 2015 for extravagant group excursions. Like the previous model, the new plane allows travellers to book bespoke adventures around the world, with Four Seasons arranging the trip itinerary and lodging ...

Bloomberg Crude leapt to its highest level in almost six months after the Trump administration said it wouldn’t renew Iran oil waivers for China, India and other countries once they expire in May. Futures in London traded near $74 a barrel after jumping as much as 3.3 percent and reaching the highest since early November in anticipation of the statement ...

ABU DHABI / WAM Abu Dhabi Islamic Bank (ADIB) reported a net profit growth of 1.7 percent for Q1 2019 to AED 600.3 million. Revenues increased by 5.3 percent to AED1,436.6 million driven by growth in customer financing of 2.8 percent to AED 78.1 billion, and a 57.5 percent rise in investment income, which reached AED 185.3 million, in addition ...

DUBAI / Emirates Business The digital transformation of the Middle East and North Africa (Mena) small- and medium-sized enterprises and smart cities is driving regional software spend to top $6 billion, industry experts announced on Monday. The Mena region is a fast-growth market for digital transformation, as organisations look to gain greater business agility, better understand customer needs and trends, ...

Abu Dhabi / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, said the UAE leadership is empowering the nation’s youth as part of its efforts ...

DUBAI / Emirates Business The inaugural Big C Forum witnessed the signing of a Memorandum of Understanding (MoU) between Dubai-based holding company Meraas and Singapore-based Chinese company Samanea Group that will see the launch of an AED1 billion mall by Q2 2021 near Dubai International City. Six key Chinese manufacturers and businesses also signed the letter of intent. Samanea Group ...

DUBAI / WAM The UAE Space Agency and Mohammed bin Rashid Space Centre (MBRSC), announced that 85 percent of the Hope Probe project has been completed. In a joint statement, the two organisations confirmed that most of the main parts of the project have been completed and are currently undergoing intensive testing to ensure every aspect of the Probe is ...

Dubai Emirates Business Union Coop, the largest consumer cooperative in the UAE reported a 26.5% increase in net profit for the first quarter of 2019, compared to the same period on the previous year, with an increase of AED 28.8 million. The first quarter of 2019 saw a net profit AED 138.5 million, compared to AED 109.7 million of 2018. ...

ABU DHABI / WAM Etihad Rail, the developer and operator of the UAE’s national railway network, signed a Joint Partnership Agreement with the General Administration of Customs in Abu Dhabi, aimed at developing freight transport requirements, and enabling trains to travel more efficiently through the adoption of best practices and smart electronic technology. HH Sheikh Theyab bin Mohamed bin Zayed ...