June, 2019

• 2 June

  World needs to confront radical ideology, dry up its sources: UAE

  

  MECCA / WAM The UAE condemned as a ”flagrant violation of international law” acts of terrorism on commercial ships in its regional waters and drone attacks on two pump stations in Saudi Arabia, said HH Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, while delivering the UAE speech at the 14th Summit of ...

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• 2 June

  Dewa promotes electricity and water conservation in Ramadan

  

  DUBAI / WAM Dubai Electricity and Water Authority (Dewa), organised an awareness programme during the Holy Month of Ramadan to promote the importance of using electricity and water sensibly and avoiding waste, as well as highlighting steps that can be taken to reduce consumption. The programme, that the authority Dewa provides on its website and smart app, supports Dewa’s strategy ...

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• 2 June

  SBA highlights Sharjah investment prospects at BookExpo America

  

  NEW YORK / WAM The Sharjah Book Authority (SBA), met American and international publishers at BookExpo America to highlight the diverse investment opportunities in the publishing sector in Sharjah, and the incentives and facilities available in the UAE. The authority, the only Arab representative at the North American event, reviewed Sharjah’s year-long calendar of cultural events, which provides a window ...

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• 2 June

  Trade war: China targets FedEx in ‘warning’ to US

  

  Bloomberg China targeted FedEx Corp in its escalating trade war with the US, giving a hint of the kind of foreign companies it may blacklist as “unreliable.” As details of China’s criteria trickled out, the investigation into FedEx’s “wrongful delivery of packages” was framed by the state news agency as a warning by Beijing after the Trump administration imposed a ...

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• 2 June

  Samsung top brass convene over South Korea’s chip exports

  

  Bloomberg Samsung Electronics Co Vice Chairman Lee Jay Yong convened a meeting with top executives and discussed ways to deal with the worsening global business environment as South Korea’s chip exports plunged. The meeting at Samsung’s memory-chip plant in Hwaseong, South Korea, came on the day the country reported a 30.5 percent decline in semiconductor exports for May. Worsening US-China ...

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• 2 June

  India looks to Asian mills for SAIL tie-up

  Bloomberg India is in talks with Japanese and South Korean mills for a joint venture with state-run Steel Authority of India (SAIL) as years of delays hold up a deal with the world’s biggest steelmaker ArcelorMittal. The steel ministry is in talks with mills including Nippon Steel, Mitsubishi Steel and Posco for a JV, says Indian mill’s Chairman Anil Kumar ...

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• 2 June

  Toyota, Mazda lead Japan auto shares lower on Trump tweet

  

  Bloomberg Japanese automakers’ biggest fears began to materialise with a single tweet from US President Donald Trump saying that he would impose a 5 percent tariff on goods from Mexico. That’s because many of them build cars for export to the US in the country south of the American border. The shares of Japanese automakers, many of them already facing ...

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• 2 June

  Toshiba to pay Total $815m to exit LNG plant

  Bloomberg Toshiba Corp will transfer its rights to process natural gas at the Freeport LNG project in Texas to France’s Total SA, the companies said. Toshiba will pay Total $815 million to hand over the 20-year liquefaction rights to the French major and expects to finalise the deal by March 2020, according to a statement from the Tokyo-based company. Total ...

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• 2 June

  India roiled as US yanks its status as developing nation

  

  Bloomberg President Donald Trump opened another potential front in his trade war, terminating India’s designation as a developing nation and thereby eliminating an exception that allowed the country to export nearly 2,000 products to the US duty-free. “I have determined that India has not assured the United States that India will provide equitable and reasonable access to its markets,” Trump ...

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• 2 June

  US wants T-Mobile-Sprint deal to create national competitor

  

  Bloomberg Top Justice Department officials want T-Mobile US Inc and Sprint Corp to lay the groundwork for a new wireless carrier — with its own network — as a condition to clearing their $26.5 billion merger, according to a person familiar with matter. The two companies have been pondering additional concessions that could help win Justice Department approval for their ...

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