May, 2019

• 19 May

  Enabling works commence on AED5 billion Jubail Island

  

  Abu Dhabi / Emirates Business Jubail Island Investment Company (JIIC) announced the appointment of Gulf Contractors Company (GCC) to commence enabling works for the AED5 billion Jubail Island that was recently launched in Abu Dhabi. Enabling works are scheduled for completion in January 2020. Enabling works are generally associated with large-scale land development projects and entail major earthworks and grading ...

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• 19 May

  Enoc signs deal to drive its digital transformation

  

  Dubai / WAM Enoc Group has signed an agreement with Moro, the Dubai government owned digital data hub, focused on providing digital transformation and operational innovation, to lead the digitalisation journey of Enoc’s operations. The digital transformation will be driven through an organisation-wide SAP system implementation and infrastructure hosting services by Moro and powered by Virtustream Cloud Technology over the ...

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• 19 May

  Dubai’s unemployment rate is lowest in the world

  

  Dubai / WAM Dubai’s unemployment rate reached 0.5 per cent last year, while the refined economic participation rate as a percentage of total working-age population reached 83.2 percent, according to the Labour Force Survey 2018 published by Dubai Statistics Center. Arif Al Mehairi, Executive Director of Dubai Statistics Center, said: “The results of the Labour Force Survey 2018 illustrate the ...

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• 19 May

  Huawei built three-month stockpile ahead of US ban

  

  Bloomberg Huawei Technologies Co has stockpiled enough chips and other vital components to keep its business running for at least three months as the US curtails its access to American technology, people familiar with the matter said. The Trump administration blacklisted China’s largest tech company — which it accuses of aiding Beijing in espionage — threatening to cut off the ...

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• 19 May

  Singapore urges US to accept China as its competitor

  

  Bloomberg Singapore urged the US to allow China to have a greater say in shaping global rules to avoid a prolonged clash that could force smaller countries to choose between the world’s biggest economies. Speaking to an audience in Washington, Foreign Minister Vivian Balakrishnan said it won’t work to view China as an adversary that must be contained and called ...

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• 19 May

  Reliance Capital protests downgrade, to cut debt 50%

  Bloomberg Reliance Capital Ltd, Anil Ambani’s financial services company, protested against a three-step downgrade by Care Ratings that put its credit score two notches above junk. Care Ratings cut the firm’s long-term debt programme to BBB from A and kept it on credit watch with developing implications, according to statements from Reliance Capital and the rating company. Reliance Capital said ...

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• 19 May

  Japan Display’s backers seek to add new investor

  

  Bloomberg Japan Display Inc, a struggling supplier of screens for Apple Inc’s iPhone, has to find an additional investor to get a $727 million rescue package from a group of Chinese and Taiwanese firms, according to the Asahi newspaper. Negotiations with the consortium, which includes Taiwan’s TPK Holding Co, Harvest Tech Investment Management Co, Cosgrove Global Ltd, and Topnotch Corporate ...

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• 19 May

  In aging Japan, 75-year-old job hunters may be the new normal

  

  Bloomberg At the age of 75, Mikiko Kuzuno found herself recently laid off and applying for a job at a factory near Tokyo. She insisted on making the application in person. “I asked them to please take a look at me,” she said. “I wanted to show them how healthy I am. Some people are very frail.” Kuzuno, 78, is ...

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• 19 May

  Toyota rebukes Trump for message carmaker ‘not welcomed’

  

  Bloomberg Toyota Motor Corp rebuked President Donald Trump’s declaration that imported cars threaten US national security, signaling contentious talks are ahead for the White House and America’s key trading partners. In an unusually strong-worded statement, Japan’s largest automaker said Trump’s proclamation that the US needs to defend itself against foreign cars and components “sends a message to Toyota that our ...

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• 19 May

  CBS in talks with Lions Gate to buy Starz cable network

  

  Bloomberg CBS Corp’s seemingly inexorable march towards acquiring Viacom Inc. may take a detour. The broadcasting giant recently talked to Lions Gate Entertainment Corp about buying that company’s Starz cable network, according to people familiar with the matter, a deal that could happen alongside a potential purchase of Viacom. CBS made an informal bid of about $5 billion that was ...

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