November, 2019

• 25 November

  AFZ, LinkedIn ink MoU

  

  AJMAN / WAM Ajman Free Zone (AFZ), signed an agreement with LinkedIn, which will see it benefit from an enhanced profile on the global business networking platform and enable targeted communications with key business sectors on a global scale. The move is part of Ajman Free Zone’s expansion strategy to attract more investor companies. The potential reach is on a ...

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• 25 November

  Uber loses London license over concerns for rider safety

  

  Bloomberg London’s transit authority refused to grant Uber Technologies Inc a new license in the capital, endangering the ride-hailing company’s future operations in the city. While the company has made some progress in addressing Transport for London’s (TfL) concerns, the regulator is still concerned that unauthorised drivers can manipulate the app to carry passengers, it said in a statement. Uber ...

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• 25 November

  Asahi Kasei to buy Veloxis in $1.3b deal

  Bloomberg Asahi Kasei Corp is buying Denmark’s Veloxis Pharmaceuticals A/S for 143.2 billion yen ($1.3 billion), the companies said, in the latest of a series of deals by Japanese drugmakers. Asahi Kasei is offering to buy the ordinary shares and warrants of Veloxis for 6 kroner per share in a tender starting next month, they said in a statement. That’s ...

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• 25 November

  HP rejects merger request by Xerox saying health in doubt

  

  Bloomberg HP Inc rejected Xerox Holdings Corp’s request to open its financial books after turning down its unsolicited merger offer last week, saying that the smaller suitor hasn’t proven it’s healthy enough to raise the funding or complete such a transaction. “Your proposal does not constitute a basis for due diligence or negotiation,” Chief Executive Officer Enrique Lores and Chairman ...

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• 25 November

  Novartis agrees to buy Medicines for $9.7bn

  Bloomberg Novartis AG agreed to buy Medicines Co and its promising heart drug for $9.7 billion, the latest move in the Swiss drugmaker’s push to amass novel treatments for complex conditions. Medicines Co’s experimental treatment inclisiran uses a new approach to lower bad cholesterol in especially hard-to-treat patients. Novartis Chief Executive Officer Vas Narasimhan was willing to foot the bill, ...

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• 25 November

  German minister defends Huawei

  

  Bloomberg Economy minister Peter Altmaier defended the German government’s decision not to exclude China’s Huawei Technologies Co over security concerns, citing a similar decision years earlier in the wake of US espionage. Germany didn’t boycott US companies when it surfaced in 2014 that the NSA spied on institutions and individuals in Europe’s biggest economy, Altmaier said on broadcaster ARD. “The ...

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• 25 November

  China plans record sale of dollar bonds worth $6bn

  

  Bloomberg China is planning a record sale of sovereign bonds in dollars, with a potential $6 billion offering, according to people familiar with the discussions. The ministry of finance is considering tenors of three years, five years, 10 years and 20 years, according to the people, who asked not to be named as the talks aren’t public. The ministry didn’t ...

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• 25 November

  China’s imports of US soybeans drop

  

  Bloomberg China’s imports of US soybeans contracted to the lowest level in three months in October as the world’s biggest buyer delayed unloading of American soybeans at its ports. China’s inbound shipments from the US slumped to 1.15 million tons from 1.73 million tons in September, but were well above the 66,955 tons in October last year, customs data show. ...

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• 25 November

  Malaysia to return plastic waste to UK

  Bloomberg Malaysia will return 42 containers of illegal plastic waste to the UK, which has agreed to take them back, as the Southeast Asian nation continues its fight against becoming the world’s dumping ground for trash. The containers, which arrived at Penang Port between March 2018 and March 2019, were classified as illegal because they failed to comply with the ...

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• 25 November

  Paytm announces $1bn funding plan

  

  Bloomberg India’s digital payments pioneer Paytm announced new funding from existing shareholders like SoftBank Group Corp’s Vision Fund and new investors, as competition in the country’s finance sector heats up. Though the company did not disclose details, it raised $1 billion in equity at a $16 billion valuation, according to a person familiar with the matter. It is in talks ...

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