November, 2019

• 2 November

  Saudi crown prince gives green light for Aramco IPO

  

  Bloomberg Saudi Crown Prince Mohammed bin Salman finally gave the go-ahead for the initial public offering (IPO) of Aramco, deciding there’s enough support from local investors for what’s likely to be a record share sale. The crown prince made the decision at a meeting he chaired and an official announcement is likely as soon as Sunday. The partial privatisation will ...

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• 2 November

  Mahathir: Asean should unite against Trump, EU on trade

  

  Bloomberg Southeast Asian countries should band together and speak with one voice in global trade disputes with the US and European Union (EU) to avoid being bullied, according to Malaysian Prime Minister Mahathir Mohamad. Speaking to a business forum in Bangkok, Mahathir said the 10-member Association of Southeast Asian Nations (Asean) should leverage its market of 650 million people to ...

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• 2 November

  Dubai-Ukraine trade hit AED2.16 billion in 2018

  

  Dubai / WAM Director General of Dubai Customs, Ahmed Mahboob Musabih and Oleksandr Khomiak, Consul General of Ukraine to Dubai discussed means of boosting cooperation between Ukraine and the UAE, especially in areas of trade. “It’s very important for us to boost ties of partnership with the Ukrainian diplomatic missions and companies. We have priorities which include delivering a leading ...

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• 2 November

  ‘UAE committed to global prosperity’

  

  Abu Dhabi / WAM Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry, has emphasised the UAE’s unwavering commitment to global prosperity and setting an example to Least Developed Countries in remarks made at the 8th Ministerial Conference of the Least Developed Countries organised by the United Nations Industrial Development Organization. The event, held on November 2 ...

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• 2 November

  MOCCAE commences work on Smart Map of Natural Capital of UAE

  Dubai / WAM The Ministry of Climate Change and Environment (MOCCAE), on Saturday announced it commenced work on the Smart Map of Natural Capital of the UAE. The two-phased initiative aims to identify local biologically rich ecosystems and the services they provide to the indigenous environment, in addition to carrying out an economic valuation of these services. Data will be ...

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• 2 November

  Google buys Fitbit to boost hardware

  

  Bloomberg Alphabet Inc’s Google acquired smartwatch maker Fitbit Inc for $2.1 billion in cash, a move that could shore up the internet giant’s hardware business while also potentially increasing antitrust scrutiny. Fitbit shares jumped 16%. Google will pay $7.35 a share for San Francisco-based Fitbit, according to a statement. That represents a 71% premium to Fitbit’s stock price before Reuters ...

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• 2 November

  Apple lost ground to Samsung, Huawei before iPhone 11 debut

  

  Bloomberg Apple Inc lost ground to Samsung and Huawei in the third quarter when global smartphone sales rose on a quarterly basis only for the first time in two years, according to Canalys. Apple shipments fell 7% to 43.5 million units in the July to September period, just before the well-received iPhone 11 hit global store shelves, the researcher estimated. ...

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• 2 November

  Nintendo scores smartphone hit with Mario Kart Tour

  

  Bloomberg Nintendo Co can finally claim a mega-hit smartphone game with its new Mario Kart Tour, which has been downloaded 123.9 million times in its first month and comfortably eclipsed the company’s previous mobile game debuts, Sensor Tower data showed. “The racing app is Nintendo’s most successful mobile game launch by downloads so far, eclipsing Super Mario Run’s 21.8 million ...

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• 2 November

  Tesla supplier boosts EV  battery sales

  Bloomberg Japan’s Panasonic Corp, which makes electric-car batteries for Tesla Inc, said it boosted sales of the product “significantly” last quarter after expanding production in North America. Sales of prismatic battery cells advanced after a production increase in Dalian, China, while investments in North America led to gains in revenue for cylindrical batteries in the quarter through September, Panasonic said. ...

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• 2 November

  Danske to slash fixed income, currency jobs as profits stall

  

  Bloomberg Danske Bank A/S will target its fixed-income and currencies unit for job cuts as part of a sweeping plan to revive profits amid rising compliance costs and entrenched negative interest rates. Denmark’s biggest bank, which is being investigated for money laundering across Europe and in the US, missed analysts’ profit estimates, third-quarter results showed. It acknowledged its result this ...

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