August, 2018

• 15 August

  Dubai to host Seatrade Maritime Middle East in Oct

  Dubai / WAM The 9th edition of Seatrade Maritime Middle East, the region’s biggest maritime exhibition, will run in Dubai World Centre on October 29-31 as part of UAE Maritime Week. Held under the patronage of HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Seatrade Maritime Middle East offers a dynamic, free-to-attend conference programme, including ...

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• 15 August

  Dubai explores business prospects in India’s jewellery sector

  DUBAI / WAM The Dubai Chamber of Commerce and Industry concluded a study mission to India, which explored business opportunities in the country’s gems and jewellery sector. The study mission included visits to Mumbai and Delhi and coincided with the India International Jewellery Show, the largest event of its kind in India, where the Dubai Chamber hosted a seminar attended ...

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• 15 August

  Vestas soars on order intake, share buyback plan

  

  Bloomberg Vestas Wind Systems A/S surged the most in two years after the wind turbine maker announced a $227 million share buyback and said its orders rose. “Order intake was very strong, and profitability was clearly above market expectations,” said James Evans, an analyst at Bloomberg Intelligence. It was “aided by Vestas’ new push into co-developing projects, with two US ...

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• 15 August

  Cheap drones to boost output for energy sector

  Bloomberg Cheap drones are poised to boost output and cut operating expenses for the energy industry. The unmanned aerial vehicles are generally faster and less expensive than people, and can go places that may not be safe for workers. As costs fall, and their capabilities increase, drones are spotting leaks in natural gas pipelines, helping utilities inspect transmission and distribution ...

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• 15 August

  Crypto’s millennial mining tycoon plans $3 billion IPO

  

  Bloomberg Bitmain Technologies Ltd., the world’s biggest producer of cryptocurrency mining chips, is planning a Hong Kong initial public offering that could raise as much as $3 billion, people with knowledge of the matter said. The Beijing-based company, whose 32-year-old co-founder Jihan Wu is one of the most powerful players in crypto, plans to file a listing application with the ...

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• 15 August

  Chinese fund backs buyout deal for KFC operator Yum

  

  Bloomberg China Investment Corp. (CIC) is backing a potential takeover of Yum China Holdings Inc., which runs KFC and Pizza Hut outlets in the world’s most populous nation, people with knowledge of the matter said. The sovereign fund and DCP Capital, the investment firm run by former KKR & Co. senior executives, are part of a consortium with Hillhouse Capital ...

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• 15 August

  Singapore home sales soar on minute-to-midnight buying

  

  Bloomberg Private home sales in Singapore soared to the highest in 16 months in July as buyers rushed to snap up properties hours before curbs aimed at quelling speculation came into effect. Developers sold 1,724 units last month, the Urban Redevelopment Authority said in a statement. That’s more than double the 654 units sold in June and the highest since ...

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• 15 August

  Tencent surprises with profit drop as China hobbles games

  

  Bloomberg Tencent Holdings Ltd. surprised investors with its first profit drop in at least a decade as a Chinese regulatory freeze on game approvals hurt its ability to make money off marquee titles. Net income fell 2 percent to 17.9 billion yuan ($2.6 billion) in the three months ended in June, the Shenzhen-based company said, well short of the 19.3 ...

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• 15 August

  ‘Mortgages’ rise in Brexit-vulnerable areas

  

  Bloomberg Lenders are ramping up riskier mortgage lending in the north of England just as property values start to fall and interest rates increase. That could be bad news for banks and home-loan providers in a region that’s already facing a hit to its wealth from the UK’s withdrawal from the European Union, no matter what kind of agreement is ...

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• 15 August

  Cabot agrees to buy KMG for $1.2 billion

  Bloomberg Cabot Microelectronics Corp. agreed to acquire KMG Chemicals Inc. for $1.2 billion in an effort to strengthen its position as a supplier to the semiconductor industry. “KMG’s industry-leading electronic materials business is highly complementary” to Cabot’s portfolio in polishing pads for chipmakers, Cabot Chief Executive Officer David Li said in a prepared statement. “Its performance-materials business broadens our product ...

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