April, 2019

• 9 April

  Dubai DED records 35% increase in new licences

  

  Dubai / WAM The Business Registration and Licensing (BRL), sector of the Dubai Department of Economic Development, DED, has issued 2,459 new licences in March 2019, a growth of 35.4 percent compared to March 2018 (1,816). According to the department, the new licences have created 9,661 jobs in the labour market. “Among the new licences issued, 58 percent were commercial, 39.3 ...

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• 9 April

  Petrobras to sell pipe unit stake for $8.6b

  

  Bloomberg Petroleo Brasileiro SA agreed to sell its 90 percent stake in a natural gas pipeline unit to France’s Engie SA and Canadian pension fund Caisse de Depot et Placement du Quebec for $8.6 billion. Engie and Caisse prevailed after multiple rounds of bidding for the unit, known as TAG. It is the biggest-ever single asset sale for Petrobras, whose ...

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• 9 April

  Ghosn blames Nissan top ranks’ ‘dirty game’ for arrest

  

  Bloomberg Carlos Ghosn lashed out at Nissan Motor Co’s top ranks for playing “a very dirty game” by orchestrating his arrests in Japan and his ouster from its global alliance with Renault SA and Mitsubishi Motors Corp. Speaking in a video recorded before he was detained again, the former chairman of the three automakers said some Nissan executives conspired to ...

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• 9 April

  Indonesia gold miner mulls $600mn IPO

  

  Bloomberg PT Amman Mineral Nusa Tenggara, which owns the second-largest copper and gold mine in Indonesia, is weighing an initial public offering that could raise as much as $600 million, according to people familiar with the matter. The company is working with advisers to list in Jakarta as early as the fourth quarter, said the people, asking not to be ...

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• 9 April

  Singapore REIT mergers may accelerate after key OUE deal

  

  Bloomberg Talk of consolidation among Singapore real estate investment trusts ramped up after the regulator strengthened rules governing the market in 2015. Four years on, it’s finally happening. OUE Commercial REIT said it had agreed to buy OUE Hospitality Trust to create one of Singapore’s 10 biggest REITs, giving the combined entity greater firepower to make acquisitions. It’s also the ...

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• 9 April

  China plans to ban crypto mining soon

  

  Bloomberg China signalled its intent to ban cryptocurrency mining, dealing a fresh blow to an industry buffeted by tumbling virtual currency prices, stiff competition and waning investor interest. The National Development Reform Commission, the country’s powerful economic planner, listed crypto-mining among a plethora of industries it intends to eliminate because they “seriously wasted resources” or polluted the environment. The agency ...

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• 9 April

  SoftBank recruits executives for $5bn Latin America fund

  

  Bloomberg SoftBank Group Corp is hiring a trio of industry veterans to oversee a $5 billion technology fund headed by Chief Operating Officer Marcelo Claure that focuses on Latin America. André Maciel, a former managing director at JPMorgan Chase & Co in Brazil, will join the SoftBank Innovation Fund as managing partner, the company said in a release. Paulo Passoni, ...

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• 9 April

  China car slump persists with sales plunging for 10th month

  

  Bloomberg For decades, there was just one way for China’s car market: up. Once the trend abruptly reversed 10 months ago, the free fall in the world’s largest market has shown no signs of easing. Retail sales of sedans, sport utility vehicles, minivans and multipurpose vehicles continued their plunge in March, dropping 12 percent to 1.78 million units, the China ...

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• 9 April

  Trump to seek limits on state power in pipeline approvals

  

  Bloomberg Developers have been trying for six years to build a 124-mile natural gas pipeline from Pennsylvania to New York. Despite winning a federal approval in 2014, the project is still no closer to reality. Enter President Donald Trump, who on Wednesday is poised to issue an executive order to promote projects like the long-stalled Constitution Pipeline, according to people ...

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• 9 April

  Tesla opens new quarter with more sales staff cuts

  Bloomberg Tesla Inc. followed a disappointing deliveries report by cutting another swath of sales staff across the country, as the electric-car maker continues to pare back personnel and shift its ordering process online. The company dismissed several dozen sales team members in Chicago; Brooklyn, New York; and Tampa, Florida; according to people familiar with matter. The latest round of staff ...

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