April, 2018

• 2 April

  ADM, World Bank Group discuss cooperation in community service

  

  Abu Dhabi / WAM The Abu Dhabi City Municipality (ADM), and the Department of Economic Development (DED), met a delegation from the World Bank Group and discussed ways of strengthening cooperation in public interest and community service as well as the development of Abu Dhabi. The step is in line with the municipality’s and the DED’s continuous efforts to enhance ...

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• 2 April

  DCT Abu Dhabi to host seminars on translation, reading and narration

  

  Abu Dhabi / WAM The Department of Culture and Tourism – Abu Dhabi, DCT Abu Dhabi, will be participating in the 34th edition of the Tunis International Book Fair, with a cultural programme packed with activities, events, seminars and interviews with Emirati writers and authors. Managed by Tunisian novelist Shukri Mabkhout, this edition of the book fair, which will run ...

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• 2 April

  US stocks fall on tech weakness

  

  Bloomberg US stocks dropped in light trading as the weakness in technology shares persisted amid renewed presidential criticism of Amazon.com and retaliatory tariffs from China. The dollar held steady and Treasury yields climbed. The S&P 500 Index slumped after its first quarterly retreat since 2015, with volumes 17 percent below average. The Nasdaq 100 Index lost more than 1.5 percent ...

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• 2 April

  Crypto hedge-fund bubble begins to bust

  

  Bloomberg The reckoning is starting for crypto hedge funds. Demand and profits are drying up at many of the more than 150 funds that popped during 2017’s spectacular surge in Bitcoin—which brought cryptocurrencies to the attention of scores of institutional and individual investors. This year’s 50 percent plunge in the value of Bitcoin has many investors thinking twice. At about ...

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• 2 April

  Beijing unveils plan to lure big tech stock listings back home

  

  Bloomberg China took a major step toward seeing Alibaba Group Holding Ltd., Baidu Inc. and others list in its domestic market, announcing a trial programme that would allow the technology giants to see their shares bought and sold in the world’s most populous country. The State Council unveiled the plans, less than a month after the idea was first made ...

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• 2 April

  TPG pursues stake in $500mn Thai hospital

  

  Bloomberg TPG is in talks to buy a stake in a Thai hospital specialising in fertility treatments, according to people with knowledge of the matter. The owners of Bangkok’s Jetanin Institute for Assisted Reproduction are seeking an outside investor for the business, which could be valued at $400 million to $500 million, the people said. The hospital’s shareholders are open ...

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• 2 April

  Billionaire Krishnan mulls German tropical resort sale

  

  Bloomberg Malaysian billionaire T. Ananda Krishnan is considering selling a tropical-themed holiday resort in Germany as he seeks to focus on his domestic investments, people familiar with the matter said. Krishnan and business partner Colin Au are working with an investment bank to gauge interest in Tropical Islands Resort in Brandenburg, which houses the world’s largest indoor rainforest, according to ...

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• 2 April

  Coal India’s production, shipments rise to a record

  

  Bloomberg Coal India Ltd.’s sales and output in March rose to the highest on record as the world’s biggest coal miner rushed to meet its annual production target, a goal that it missed for at least the sixth consecutive year. Output rose 9 percent from a year earlier to 72.3 million tons of coal in March, while shipments rose 5.5 ...

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• 2 April

  India plans new duties on smartphone components

  Bloomberg India is said to be considering new duties on the import of a key smartphone component in a bid to promote domestic manufacturing in the world’s fastest-growing smartphone market. India’s Ministry of Electronics and Information Technology has mooted a proposal to impose a 10 percent duty on imports of populated printed circuit boards, Reuters reports, citing two unidentified government ...

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• 2 April

  China cuts taxes for chipmakers to promote industry development

  Bloomberg China said it cut taxes for semiconductor makers, lending new support for the pivotal industry just as US President Donald Trump weighs tariffs on the sector amid rising trade tensions. The new rules cover a broad swath of semiconductor companies. They will be exempt from corporate income taxes for up to five years starting from January 1, the Finance ...

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