January, 2017

• 24 January

  TCA Abu Dhabi invites UAE-based artists to ‘Collage’ expo

  

    Abu Dhabi / Emirates Business Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi) is offering all UAE-based mixed media artists the opportunity to participate in a new exhibition, in March at the Al Qattara Arts Centre in Al Ain. The exhibition, entitled Collage, will showcase a selection of mixed media works, where essentially the artwork can be made …

  Read More »
• 24 January

  SAP raises targets for 2020 with increase in customers

  

    Bloomberg SAP SE raised its targets for 2020 as customers bought its latest suite of applications at a faster pace, and Chief Executive Officer Bill McDermott — a fan of Donald Trump’s “The Art of the Deal,” — said he wouldn’t “lay off the accelerator” on acquisitions, engineering investment or a potential share buyback. The updated outlook, on top …

  Read More »
• 24 January

  French economy accelerates as services outpace manufacturing

  

    Bloomberg Economic momentum in France accelerated to the strongest in more than five years in January, data by IHS Markit show. A Purchasing Managers’ Index for manufacturing and services rose to 53.8 from 53.1 in December, the London-based company said in a statement on Tuesday. That’s above the 53.2 median estimate in a Bloomberg survey and the highest since …

  Read More »
• 24 January

  De Beers gets biggest diamond sale in a year

  

    Bloomberg De Beers had its biggest diamond sale in at least a year as the gem industry restocked after the key holiday period. The company, owned by Anglo American Plc, sold $720 million of diamonds in its first sale of the year, compared with $545 million at last year’s January offering, it said in a statement. The world’s biggest …

  Read More »
• 24 January

  UK offshore wind cheapest future large-scale energy

    Bloomberg UK offshore wind power is on target to become the cheapest source of large-scale clean energy, surpassing the government-mandated price target four years early. The levelized cost of energy for offshore wind — a benchmark measuring affordability over the lifetime of generation assets — dropped below 100 pounds a megawatt-hour in 2016, according to a report by UK’s …

  Read More »
• 24 January

  Uber wants court stamp on arbitration win as hint to drivers

  

  Bloomberg Uber Technologies Inc. is asking a California judge to grant a stamp of approval on what it says is the first decision by an arbitrator denying a driver’s bid to be treated as an employee instead of an independent contractor. It could be the first of many such rulings after a federal appeals court’s decision last year that most …

  Read More »
• 24 January

  United Kingdom’s threat to weaponize tax is no bluff

  

    The UK government is threatening to give its post-Brexit economy a shot in the arm by reducing corporate taxes to become a sort of “Singapore-on-Thames,” a tax haven on the perimeter of the European Union. EU officials are dismissive of the idea; but they may be whistling past a graveyard. At a rate of 20 percent, the UK currently …

  Read More »
• 24 January

  Snapchat prepares for its close-up

  

    Snapchat isn’t a public company yet, but it is already making its first smart move to divert the scrutiny of pesky public stockholders. Sure, there’s parent company Snap Inc.’s decision to bring in a new set of stock owners that won’t have even the appearance of a say in how the company operates. A potentially bigger deal is Snapchat’s …

  Read More »
• 24 January

  China’s middlemen aren’t dead yet

  

    This could be Li & Fung Ltd.’s (very slim) chance to shine. Donald Trump on Monday officially quashed the Asia-Pacific free trade pact that would have made it cheaper for US companies to import goods from countries such as Vietnam and Japan. He has also threatened to institute a 45 percent tariff on goods imported from China. Conventional wisdom …

  Read More »
• 24 January

  China raises medium-term loan rate to tighten policy

  

    Bloomberg China’s central bank increased the interest rates on medium-term loans that it uses to manage liquidity, a move analysts say signals its intent to keep a tight rein on leverage in the financial system. The one year Medium-term Lending Facility (MLF) rate was raised to 3.1 percent from 3 percent and the six-month rate to 2.95 percent from …

  Read More »