July, 2019

• 15 July

  Deal signed to organise realty auctions in Dubai

  

  DUBAI / WAM The Dubai Land Department (DLD) signed a cooperation agreement with Emirates Auction, the leading company in managing public and online auctions in the Middle East, to organise and manage selective real estate auctions under the remit of the DLD for individuals and institutions. The agreement provides for a strategic partnership to develop the real estate sector in ...

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• 15 July

  Moon-mission glitch sets India back in global space race

  

  Bloomberg India was forced to put on hold its second mission to the moon after discovering a glitch at the last moment, a setback to its ambitious plan to become the first nation to land on the south pole of Earth’s closest neighbor. The mission, called Chandrayaan-2, which means “moon vehicle” in Sanskrit, was cancelled 56 minutes before its scheduled ...

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• 15 July

  Investors await Suzlon bond payout

  Bloomberg Investors in Indian corporate debt are watching whether a stressed wind-turbine maker will repay its dollar-denominated convertible bonds due on Tuesday, and help avoid further widening of strains in the nation’s credit market. Suzlon Energy Ltd, which became India’s biggest convertible note defaulter when it missed payments in 2012, must repay $172 million outstanding on such securities that were ...

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• 15 July

  Netease seeks $300m IPO of Youdao arm

  

  Bloomberg Netease Inc is planning an initial public offering in the US of its Youdao arm that could raise at least $300 million, people familiar with the matter said, propelling its expansion into a crowded online education arena. The company is working with Morgan Stanley and Citigroup Inc on the share sale with a goal to list as early as ...

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• 15 July

  Moon warns Japan economic blow may backfire

  

  Bloomberg South Korean President Moon Jae-in warned Japan that any effort to block his nation’s economic growth “will not succeed,” in the latest escalation of rhetoric between feuding neighbours. Moon told a cabinet meeting on Monday that he was aware that export restrictions imposed by Japan earlier this month targeted South Korea’s semiconductor industry and “the nation’s core competitiveness.” He ...

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• 15 July

  China to soften generic drug-buying program

  

  Bloomberg Chinese drugmakers jumped on Monday after a local news report that a centralised drug procurement plan that is hurting drugmakers’ profit will be expanded nationwide — but on milder terms than expected. The bulk buying programme for generic drugs, which had its pilot in 11 cities last December, will be rolled out across the country with gentler rules, according ...

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• 15 July

  Gilead to boost Galapagos stake as part of $5.1b deal

  

  Bloomberg Gilead Sciences Inc agreed to pay $5.1 billion to raise its stake in Belgian biotechnology company Galapagos NV to deepen its research into inflammatory diseases and other disorders. The deal is the largest Gilead has executed since new Chief Executive Officer Dan O’Day took the reins in March as he attempts to bolster the San Francisco giant’s drug pipeline. ...

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• 15 July

  Russia firm gets ‘wake-up call’ from Church of England

  

  Bloomberg Finding a letter from the Church of England in his e-mail inbox was surprising enough for Vladimir Zaluzhsky, who’s in charge of investor relations at Russia’s second most valuable steelmaker. Even stranger was the demand to know what risks Severstal PJSC’s operations pose to the environment. The church’s pension board wanted details on how Severstal disposes of waste at ...

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• 15 July

  London house prices fall less than usual, says Rightmove

  

  Bloomberg London house prices fell less than usual this month as sellers held back in a sign that the market may be stabilising, according to Rightmove. Home values in greater London slipped 0.2 percent, compared with an average 0.6 percent drop for July over the past five years, the property website said. From a year ago, prices slid 1.7 percent ...

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• 15 July

  UK lawmakers call on government to issue review on Huawei

  

  Bloomberg A UK parliamentary committee called on the government to publish a delayed review into the role of Huawei Technologies Ltd by the end of August, saying there could be reasons to ban the Chinese company from Britain’s phone networks. The Science and Technology Committee decided there was no technical reason to ban Huawei entirely from the UK’s infrastructure, but ...

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