June, 2018

• 5 June

  Mideast’s largest living green wall unveiled in Dubai

  

  Dubai / Emirates Business In a bid to promote sustainable living, Dubai Properties on Tuesday officially unveiled the Middle East’s largest living green wall at Dubai Wharf, located in the heart of Culture Village overlooking the historic Dubai Creek. Extending 210 metres in length and rising six metres high, the impressive vertical garden spans 1,260 square metres and features over ...

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• 5 June

  Middle East bets on $100 billion industry as oil-use outlook dims

  

  Bloomberg They are the building blocks of our daily stuff, from sports shoes to computer keyboards, created when oil and natural gas molecules are split, or cracked, to produce ethylene, propylene and other chemicals. The petrochemicals are big business in the oil-rich Persian Gulf, and they’re poised for further growth. Energy producers view these compounds increasingly as a key to ...

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• 5 June

  Petrobras rebounds from rout as Monteiro takes over as CEO

  

  Bloomberg Petroleo Brasileiro SA jumped on news that its chief financial officer is taking over as interim CEO, offering some continuity to investors rattled by political pressure at the state-controlled oil producer. Ivan Monteiro was named after the resignation of Pedro Parente, as Brazilian politicians called for a chief executive officer more focussed on the good of the nation than ...

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• 5 June

  Canadian oil has record day after Enbridge scraps new rules

  Bloomberg Canadian crude surged by the most ever after Enbridge Inc. said it won’t implement a new procedure to stop shippers from claiming more space than they can use on a key pipeline linking Alberta’s oil sands with US refineries. Western Canadian Select jumped as much as $12.20 a barrel to $13.80 below the US benchmark, the narrowest spread since ...

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• 5 June

  Payout plan guides $7 billion of Tata Consultancy investments

  

  Bloomberg India’s Tata Consultancy Services Ltd. is bunching the 477 billion rupees ($7.1 billion) of its cash reserves in short and long-tenure securities to balance its need for easy liquidity with safety as it looks to make significant payouts to shareholders each year. Asia’s largest software services provider invested about 53 percent of its reserves in government securities as of ...

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• 5 June

  MyRepublic considers Hong Kong listing in December 2019

  

  Bloomberg Singapore-based Internet provider MyRepublic Group Ltd. is weighing an initial public offering in Hong Kong as early as December 2019 to fund expansion of its cloud-based broadband and mobile platform. The company has raised $150 million in capital, including a $60 million injection from Singapore family office Kamet Capital Partners and CLSA Ltd.’s asset management arm, according to CEO ...

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• 5 June

  Sharp to buy Toshiba’s PC unit, license brand

  

  Bloomberg Sharp Corp., controlled by Foxconn Technology Group, plans to buy Toshiba Corp.’s personal-computer business as its Taiwanese parent seeks to expand beyond contract manufacturing and build a brand of its own. Toshiba is selling 80 percent of the unit for 4 billion yen ($36 million) and the two companies aim to complete the sale by October 1, they said ...

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• 5 June

  China weighs new high-tech stock venue

  

  Bloomberg China is expanding efforts to keep its most promising companies from going public in Hong Kong or the US, with officials studying a new trading venue in Shanghai that would have lower thresholds for biotechnology and high-tech firms, people with knowledge of the matter said. Government entities including the China Securities Regulatory Commission and Ministry of Science and Technology ...

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• 5 June

  Giant waste-spewing mine turns to battleground in Indonesia

  

  Bloomberg Every year, Freeport-McMoRan Inc. dumps tens of millions of tons of mining waste into the Ajkwa River system in Indonesia. The company has been doing it for decades, and is demanding the right to keep at it for decades to come. The discharge of what are called tailings, the leftovers of mineral extraction, is perfectly legal under Freeport’s current ...

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• 5 June

  Apple ups privacy controls in growing spat with Facebook

  

  Bloomberg Apple Inc. executives rarely call out Facebook Inc., but they made more moves to limit the social network’s data collection. In iPhone, iPad, and Mac software updates later this year, Apple’s default Safari web browser will show a pop-up window asking users for permission before loading share buttons from social networks including Facebook. These buttons make it easy to ...

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