June, 2021

• 20 June

  Apple supplier Biel weighs $2bn Hong Kong IPO

  

  Bloomberg Biel Crystal Manufactory Ltd, a supplier of cover glass to Apple Inc., is planning a Hong Kong initial public offering that could raise as much as $2 billion, according to people with knowledge of the matter. The maker of touch screens is working with China International Capital Corp., HSBC Holdings Plc and JPMorgan Chase & Co. on the offering, ...

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• 20 June

  Waymo raises $2.5bn in funding round

  Bloomberg Waymo, Alphabet Inc.’s self-driving car unit, said it raised $2.5 billion in a recent funding round to help advance its technology and replace a management team rocked by departures. Earlier this spring, Waymo had been talking to outside investors about raising as much as $4 billion, Bloomberg has reported. The Google sibling has lost six key executives in rapid ...

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• 17 June

  Mubadala Health takes 60% stake in UEMedical

  

  Abu Dhabi / Emirates Business Mubadala Health, the integrated healthcare network of Mubadala Investment Company, on Wednesday announced the acquisition of a 60% stake in United Eastern Medical Services (UEMedical) from Jadwa Investment and United Eastern Group (UEG). UEMedical owns and operates multiple hospitals and clinics specializing in women’s health, family medicine, pediatrics, fertility, eye care, dentistry and dermatology in ...

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• 17 June

  UAE emphasises importance of protecting environment

  NEW YORK / WAM At the UN General Assembly’s High-level dialogue on desertification, land degradation and drought, the UAE has underlined that protecting the environment must be a priority for the international community. “We only have one home, one shelter – Earth,” said Dr Abdullah Al Nuaimi, Minister of Climate Change and Environment, through a video message. “Therefore, we all ...

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• 17 June

  UAE, Pakistan to bolster trade, investment ties

  

  Dubai / WAM The Pakistan Business Council in Dubai organised the second trade session with Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, to discuss new business opportunities, boosting bilateral trade volume between the UAE and Pakistan and capitalising on Expo 2020 opportunity. The minister was accompanied by Afzaal Mahmood, Ambassador of Pakistan to the UAE, ...

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• 17 June

  Oil edges higher with market tightening, virus curbs easing

  

  Bloomberg Oil crept higher as industry data pointed to a substantial decline in US crude stockpiles and fuel sales in India showed signs of recovering. Inventories dropped by 8.54 million barrels last week, according to people familiar with the American Petroleum Institute’s data. Oil is also being helped higher by positive demand signals from Asia. Indian gasoline and diesel sales ...

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• 17 June

  UAE, Kuwait to boost economic cooperation

  KUWAIT / WAM Dr Matar Hamed Al Neyadi, UAE Ambassador to Kuwait, met Khalifa Musaed Hamada, Kuwaiti Minister of Finance and Minister of State for Economic and Investment Affairs, at his office in Kuwait. Al Neyadi highlighted the UAE’s keenness to boost joint cooperation and strengthen relations between the two brotherly countries, especially in the financial and economic sectors. For ...

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• 17 June

  CBD signs deal to offer pre-approved business loan

  

  Dubai / WAM Commercial Bank of Dubai (CBD), one of the leading banks in the UAE, and Network International, the leading enabler of digital commerce in the Middle East and Africa (MEA) region, signed an agreement to provide Network International’s merchant clients with a pre-approved business loan against their Point of Sale Receivables. The agreement was signed by Amit Malhotra, ...

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• 17 June

  Emirates Steel’s headquarter receives LEED Platinum Rating

  

  Abu Dhabi / WAM Emirates Steel’s headquarter and warehouse in Musaffah Industrial Area in Abu Dhabi has received the Platinum Rating for green buildings from Leadership in Energy and Environmental Design (LEED v4) awarded by the US Green Building Council, achieving 80 and 82 points respectively. “Emirates Steel is committed to the highest standards of sustainability and efficiency in all ...

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• 17 June

  Malabar Gold & Diamonds joins Nasdaq Dubai’s Private Market

  

  Dubai / Emirates Business Malabar Investments, the international investment arm of Malabar Gold & Diamonds, one of the largest global jewellery retailer, announced that it has redomiciled the company with the Dubai International Financial Centre (DIFC) and the registration of its shares of international operations with Nasdaq Dubai’s Central Securities Depository (CSD) in a significant step that strengthens Malabar’s links ...

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