May, 2019

• 13 May

  Dubai SME signs agreement to ensure legal aid to SMEs

  

  Dubai / WAM Dubai SME has signed a memorandum of understanding (MoU), with Mohammad Ali Al Hamadi Advocates, a local legal firm, to facilitate Small and Medium-sized Enterprises (SME), access to knowledge and support on business laws. Under the agreement, Al Hamadi Advocates will give free lectures to registered SMEs about the basic legal directions on establishing and developing a ...

  Read More »
• 13 May

  Dubai Customs to distribute 20,000 meals in Ramadan

  Dubai / WAM Ahmed Mahboob Musabih, Director-General of Dubai Customs and Philip Frayne, US Consul-General to Dubai joined Ghayath Volunteer team last Saturday in distributing 5,000 Iftar meals to motorists and pedestrians on Sheikh Rashid road at sunset time as part of Al Furdah Hands initiative. The initiative, launched by Dubai Customs two years ago and is active during Ramadan, ...

  Read More »
• 13 May

  UAE Space Agency to launch new satellite by year-end

  

  Abu Dhabi / WAM The UAE Space Agency and Exolaunch have announced a joint agreement to launch MeznSat into orbit by the end of this year. The agreement was signed during the Global Space Congress in Abu Dhabi. MeznSat was developed by students from the American University of Ras Al Khaimah (AURAK) and Khalifa University. The satellite will operate using ...

  Read More »
• 13 May

  Malaysia’s bubble tea chain owner seeks $72mn IPO next year

  

  Bloomberg Loob Holding Sdn, which owns the Tealive bubble tea brand, is planning a Malaysian initial public offering that could raise as much as 300 million ringgit ($72 million), according to people with knowledge of the matter. The Kuala Lumpur-based company has hired advisers for the planned share sale, according to the people, asking not to be named as the ...

  Read More »
• 13 May

  Tata Steel $13b debt in focus on Thyssenkrupp rupture

  

  Bloomberg The collapse of Tata Steel Ltd’s planned joint venture with Thyssenkrupp AG has brought the Indian group’s more than $13 billion of debt in focus, with no immediate prospect of its European unit being hived off. The deal would have transferred some of the debt to the joint venture, allowing the Mumbai-based company to sharpen its focus on ramping ...

  Read More »
• 13 May

  SoftBank market value slides $9 billion as Uber IPO flops

  

  Bloomberg As his company booked a $3.8 billion gain from its stake in Uber Technologies Inc, Masayoshi Son told SoftBank Group Corp investors that their time had finally come. Instead, they’re still waiting. The day after Son’s earnings presentation, SoftBank slid 5.4 percent and fell again on Monday, as dropping as much as 4.9 percent. Uber’s initial public offering was ...

  Read More »
• 13 May

  Nissan pushes back Renault’s renewed efforts to merge

  

  Bloomberg Nissan Motor Co is opposing renewed efforts by alliance partner Renault SA to merge under a holding company because such a structure won’t help turn the Japanese carmaker around, a person with knowledge of the discussions said. Talks have been ongoing since Renault Chairman Jean-Dominique Senard first made an informal proposal to Nissan Chief Executive Officer Hiroto Saikawa, the ...

  Read More »
• 13 May

  European economy not yet on solid ground as business sweats

  

  Bloomberg Europe has a long way to go if it’s to deliver on the hope sparked by recent economic numbers. While there are hints that the bloc’s sharp deceleration is ending, there’s no escaping fresh doubts over global trade, ongoing weakness in German manufacturing, uncertainty over China’s growth, and Brexit. That’s got some of Europe’s big corporate names continuing to ...

  Read More »
• 13 May

  Norway economic growth slows as investments drop

  Bloomberg Economic growth in western Europe’s largest exporter of oil and gas slowed more than forecast in the first quarter, sending a warning to policy makers preparing for a third interest rate increase in June. Mainland gross domestic product, which excludes oil and shipping, expanded 0.3% in the quarter, Statistics Norway said in a statement on Monday. That was down ...

  Read More »
• 13 May

  Intel CEO says chipmaker sees low, single-digit sales growth

  

  Bloomberg Intel Corp. Chief Executive Officer Bob Swan gave new long-term forecasts that indicate the chipmaker’s growth will remain stalled. His comments, during his first investor event as CEO, sent shares down 2.5% at the close of trading in New York. Intel last month said sales will decline in 2019 and it reduced forecasts for profit and revenue in the ...

  Read More »