April, 2019

• 6 April

  Customs declarations are 78% of all transactions, reveals Dubai Customs

  

  DUBAI / WAM The number of customs declarations carried out by Dubai Customs had reached 78 percent of the overall transactions carried out by the customs authority. According to a press statement, out of the total of 9.6 million transactions undertaken by Dubai Customs in 2018, 7.5 million were customs declarations. Around 98 percent of these declarations were completed in ...

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• 6 April

  SoftBank in talks to add $15bn for huge tech fund

  

  Bloomberg For SoftBank Group, $100 billion isn’t enough. The Japanese conglomerate, which has reshaped the technology startup landscape with its Saudi-backed Vision Fund, is in talks with investors to add as much as $15 billion more to its already-massive fund, said people familiar with the discussions. In about two years, the Vision Fund has invested more than $70 billion in ...

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• 6 April

  Tata Steel posts record Indian output post deal

  

  Bloomberg Tata Steel Ltd’s Indian steel output rose to a record in its latest financial year thanks to its 2018 acquisition of Bhushan Steel Ltd assets, potentially making Tata the country’s biggest producer. Production rose 35 percent to 16.79 million tons in the year ended March 31, as Bhushan Steel added 4.2 million tons to output, the Mumbai-based company said ...

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• 6 April

  South Sudan offers more oil to China to fund roads

  Bloomberg South Sudan tripled the amount of oil it’s providing to the Export-Import Bank of China to fund the nation’s biggest infrastructure-development project. The East African country will provide 30,000 barrels per day of crude to the state-owned lender, up from 10,000 barrels it agreed in February, Information Minister Michael Makuei Lueth told reporters in the capital, Juba. The country ...

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• 6 April

  Samsung profit drops most in 4 years

  

  Bloomberg Samsung Electronics Co reported its worst operating-profit drop in more than four years, buffeted by falling memory-chip prices and slowing smartphone sales. Operating income fell 60 percent to about 6.2 trillion won ($5.5 billion) in the three months ended in March, according to preliminary results released from the Suwon, South Korea-based company. That was the biggest decline since a ...

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• 6 April

  Malaysia, Indonesia to object biofuel curbs

  Bloomberg Officials of top palm oil growers Malaysia and Indonesia will visit Brussels next week to voice their objection to the European Union’s delegated act that restricts the use of the edible oil in biofuel, according to a statement from Malaysia’s Ministry of Primary Industries. A joint mission from Malaysia and Indonesia, which together supply about 85 percent of the ...

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• 6 April

  SNC-Lavalin to sell highway stake to OMERS for $2.43bn

  

  Bloomberg Embattled Canadian engineering firm SNC-Lavalin Group Inc. agreed to sell a 10 percent stake in a Toronto-area toll highway for as much as C$3.25 billion ($2.43 billion), stepping up efforts to bolster its balance sheet after two profit warnings and an ongoing political controversy battered its shares. The sale to OMERS Infrastructure pension fund will reduce SNC’s stake in ...

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• 6 April

  BMW likely to take $1.1bn charge in EU antitrust probe

  

  Bloomberg BMW AG said it’s likely to take a charge exceeding 1 billion euros ($1.1 billion) related to the European Union’s investigation into German automakers allegedly colluding to delay the rollout of cleaner-emission cars. The provision will drag on first-quarter financial results and reduce automotive profit margin this year to as low as 4.5 percent, according to a statement. BMW ...

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• 6 April

  Tradeweb raises $1.1 billion in year’s second-largest IPO in US

  Bloomberg Tradeweb Markets Inc. raised $1.1 billion in the second-largest US initial public offering this year, after again increasing the number of shares it was selling and then pricing them above the marketed range. The bond and derivative trading platform sold 40 million shares for $27 apiece, according to a statement. Tradeweb had originally planned to sell 27.3 million shares ...

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• 6 April

  Tesla slumps as deliveries drop-off deepens demand concern

  

  Bloomberg Tesla Inc. shares plummeted as a record decline in deliveries during the first quarter stoked concern of slackening demand for the Model 3 sedan that started selling less than two years ago. The electric-car maker delivered 63,000 vehicles in the three months that ended in March, down from 90,966 in the fourth quarter. Tesla shares sank as much as ...

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