June, 2019

• 25 June

  UAE, US see significant scope to boost bilateral cooperation

  

  Washington / WAM The Governments of the United Arab Emirates and the United States of America have reaffirmed their ongoing commitment to further deepening ties between the two countries, and the importance of the US-UAE economic relationship in promoting regional prosperity and stability. The countries expressed their resolve during their sixth Economic Policy Dialogue held in Washington, DC. UAE Director ...

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• 25 June

  Four startups join Abu Dhabi’s Hub71

  

  ABU DHABI / WAM Following a recent announcement from Ghadan 21 that aims to bolster private sector growth in Abu Dhabi, Hub71 announced on Tuesday the strategic decision of four startup pioneers to set up a presence with the majority of their development and engineering capabilities at Hub71 in Abu Dhabi. The startups include UAE-based BitOasis, the largest digital asset ...

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• 25 June

  Nissan vows to mend Renault alliance as new board voted in

  

  Bloomberg Nissan Motor Co pledged to put more focus on mending its troubled two-decade alliance with Renault SA as the Japanese carmaker’s shareholders voted to give the French partner more say over its future. At Nissan’s annual meeting in Yokohama, shareholders approved a governance structure designed to boost oversight and prevent the concentration of corporate power in one individual, seeking ...

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• 25 June

  Beijing considers blacklisting FedEx after ‘delivery errors’

  

  Bloomberg China is considering adding FedEx Corp to a list of so-called unreliable entities, said people familiar with the matter, a move that would escalate tensions with the US. Authorities in China have almost completed the preparations that would be needed to blacklist FedEx, the people said, declining to be named because the information hasn’t been made public. A final ...

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• 25 June

  Dairy war threatens to engulf 2022 Beijing Winter Olympics sponsorships

  

  Bloomberg China’s biggest dairy company has warned that it may pull out of sponsoring the 2022 Winter Olympics in Beijing because of its local rival. In a rare open letter posted on its official WeChat account, Inner Mongolia Yili Industrial Group Co lashed out at China Mengniu Dairy Co for allegedly infringing its status as the sole sponsor of dairy ...

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• 25 June

  China ‘wealth’ changing the way its people die

  

  Bloomberg Chronic illnesses like stroke, heart problems and lung cancer became the top causes of premature death in China over the last three decades, according to a new study showing health trends that increasingly resemble the US and other advanced nations. The study, published this week in the Lancet, showed those conditions replacing lung infections and neonatal disorders as the ...

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• 25 June

  Chinese startups ditch Oracle, IBM for home-made tech

  

  Bloomberg For years, companies like Oracle and International Business Machines (IBM) invested heavily to build new markets in China for their industry-leading databases. Now, boosted in part by escalating US tensions, one Chinese upstart is stepping in, winning over tech giants, startups and financial institutions to its enterprise software. Beijing-based PingCAP already counts more than 300 Chinese customers. Many, including ...

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• 25 June

  UK trade secretary denies Brexit cloud will hit tech investment

  

  Bloomberg UK Trade Secretary Liam Fox dismissed fears that foreign companies will slow down their investment in domestic technology businesses, despite the ongoing uncertainty around the country’s exit from Europe. “If you take the legal system, skills of the workforce, the regulatory and tax systems, linguistic skills, access to tech, and IP law, not one of those is affected to ...

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• 25 June

  Stanford offers $4.7b for California housing, transit

  Bloomberg Stanford University, hoping to appease officials opposed to its planned expansion, is offering to spend $4.7 billion to relieve pressures on housing and transit that are plaguing residents of California’s Bay Area. The offer would be part of an agreement with Santa Clara County to support the school’s application for a long-term land use permit, according to a statement ...

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• 25 June

  AbbVie to acquire Botox maker Allergan for $63b

  

  Bloomberg AbbVie Inc. agreed to buy rival drugmaker Allergan Plc for $63 billion in a deal combining the makers of arthritis drug Humira and wrinkle treatment Botox in a bid to kindle growth. The takeover, at a value of $188.24 a share, is a 45 percent premium to Allergan’s closing price. Allergan rose 33 percent to $172 in pre-market trading ...

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