April, 2016

• 27 April

  Samsung may offer olive branch to Apple

  

    Bloomberg After years of battling Apple Inc. in courtrooms and retail stores, Samsung Electronics Co. may be ready to offer an olive branch. That’s expected to cost the Korean company almost $9 billion upfront. Samsung is in close talks with Apple to be the exclusive supplier of displays for iPhone models scheduled for release next year, according to people ...

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• 27 April

  Steinhoff folds in Darty auction, hands win to Fnac

  

    Bloomberg Steinhoff International Holdings NV said it won’t raise its offer for French electronics retailer Darty Plc, handing victory to GroupeFnac SA after a protracted auction. Steinhoff’s offer of 160 pence a share in cash is final and won’t be increased, the South African company said in a statement on Wednesday. Fnac raised its offer to 170 pence a ...

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• 27 April

  Flynas to decide between Boeing, Airbus by Ramadan

    Reuters Saudi Arabia’s Flynas will decide on whether to order Boeing 737MAXs or Airbus 320NEOs before the start of the holy month of Ramadan, the airline’s chief executive announced on Wednesday. Paul Byrne told reporters on the sidelines of an industry event in Dubai that it had decided against a potential order of Bombardier’s CS300 aircraft because the plane ...

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• 27 April

  German insurer Talanx eyes forex headwind challenge in 2016

  

    FRANKFURT / Reuters Sharp swings in foreign exchange rates could weigh on results at German insurer Talanx’s international retail business this year, the division it is counting on for near-term growth, according to board member Torsten Leue. “Foreign exchange swings in many emerging markets were stronger than expected over the last three to four years,” said Leue, who is ...

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• 26 April

  Mohamed inaugurates world’s largest ultra-sour gas project

  

    ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, officially inaugurated, on Tuesday, ADNOC’s Al Hosn Sour Gas Development Project, the largest of its kind in the world. Sheikh Mohamed was accompanied by HH Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative ...

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• 26 April

  VP issues decree to form DNEC

    DUBAI / WAM Vice President and Prime Minister of the UAE, His Highness Sheikh Mohammed bin Rashid Al Maktoum, in his capacity as Ruler of Dubai, issued Decree forming the Dubai Nuclear Energy Committee (DNEC). Decree No (15) of 2016 amends Article (1) of Decree No (26) of 2009 on the Establishment of the Dubai Supreme Council of Energy. ...

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• 26 April

  Etisalat posts AED12.9bn revenues

  

    ABU DHABI / WAM Etisalat Group on Tuesday announced its consolidated financial statements for the three months ending March 1, 2016, registering a rise in revenues to AED12.9bn. Saleh Al Abdooli, Chief Executive Officer of Etisalat Group, said, “Etisalat’s first quarter results are a continuation of the strong performance the company has achieved over the years. Despite a challenging ...

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• 26 April

  du revenues rise 1.3%

  

    DUBAI / WAM Emirates Integrated Telecommunications Company PJSC (du) on Tuesday published its financial results for the first quarter of 2016 registering a 1.3% rise in revenue to AED 3.09 billion, while net profit before royalty rose by 10.4% to AED 1.02 billion. The report said the revenue grew to AED 3.09 billion, a 1.3% increase compared to 2015 ...

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• 26 April

  Emirates Post signs MoU

    DUBAI / WAM Emirates Post Group, Empost, and Dubai Statistics Centre signed a Memorandum of Understanding to promote exchanges of statistical data and to make use of it more effectively for their mutual benefit. The MoU was signed by Arif Obaid Al Muhairi, Executive Director of Dubai Statistics Centre, and Fahad Al Hosani, Acting CEO of Emirates Post Group, in ...

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• 26 April

  55 govt entities at ADERP forum

    ABU DHABI / WAM Fifty-five government entities that fund their operational and capital operations through the general budget of Abu Dhabi Government, represented by more than 750 employees and system users, participated in the third Abu Dhabi Enterprise Resource Planning System (ADERP), Users Forum, organised by the Department of Finance – Abu Dhabi, DoF. The event was attended by Safwan ...

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