June, 2016

• 22 June

  Oil explorers embrace the sharing economy to drill cheaper wells

  

    Bloomberg The biggest oil-industry downturn in a generation has companies collaborating in ways they never thought possible. In this global effort, one of the world’s most expensive oil regions intends to lead the way. Last month companies operating in the North Sea started pooling spare parts and tools, and they are even sharing plans on how to drill wells ...

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• 22 June

  Tesla takeover of SolarCity not a ‘no-brainer’ for all investors

  

    Bloomberg Elon Musk called the proposed marriage of Tesla Motors Inc. and SolarCity Corp. a “no brainer,” saying his $2.86 billion plan to combine the companies would benefit both. Tesla investors didn’t seem so sure. While SolarCity shares rose 16 percent Wednesday in trading before U.S. exchanges opened, Tesla fell 10 percent. Oppenheimer & Co. analysts including Colin Rusch ...

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• 22 June

  A new frontier for luxury living

  

    Our Correspondent EMIRATES BUSINESS The Al Habtoor Group has grown with the United Arab Emirates. What started out as a small engineering firm in 1970, is today one of the region’s most respected conglomerates with interests in the hospitality, automotive, real estate, education and publishing sectors. The Al Habtoor Group has earned itself a solid reputation both locally and ...

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• 22 June

  Get a touch of elegance to your interiors this Ramadan

  

    Our Correspondent EMIRATES BUSINESS Natuzzi Italia, one the world’s most internationally acclaimed luxury furniture, presents its new collection of sofas and armchairs, perfect for welcoming guests during the observance of Ramadan where family and friends gather for the Holy Month. The new collection of sofas and armchairs were featured in the recently concluded Salone del Mobile, the largest international ...

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• 22 June

  Tencent seals deal to buy Supercell for US$8.6 billion

  

    Beijing / Bloomberg Tencent Holdings Ltd. will lead an $8.6 billion acquisition of gamemaker Supercell Oy, getting its hands on some of the industry’s most popular mobile titles through potentially its largest-ever overseas deal. China’s largest internet company is leading a group that will buy 84 percent of Supercell, including shares held by SoftBank Group Corp. and current and ...

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• 22 June

  Oz state buys cattle station to help Barrier Reef

  

    Sydney / AFP A huge cattle station that pours sediment into the Great Barrier Reef was bought on Wednesday by the government as efforts are stepped up to help the World Heritage site bounce back from mass bleaching. Global warming has been wreaking havoc on the reef, contributing to an unprecedented bleaching event this year that saw much of ...

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• 22 June

  Singapore to include Chinese investments in foreign reserves

  

    Singapore / AP Singapore’s central bank said Wednesday it will make financial investments in the Chinese yuan as part of its official foreign reserves from June, reflecting the currency’s increasing international acceptance. The Monetary Authority of Singapore (MAS) said its decision “recognises the steady and calibrated liberalisation of China’s financial markets, and the growing acceptance of (yuan) assets in the ...

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• 22 June

  Apple free to take bite out of India after rule change

  

    New Delhi / AFP The gleaming glass atriums and blue-clad “geniuses” that herald the arrival of an Apple store could soon be landing in India, after the government cleared the way for it to open in the rapidly growing smartphone market. Before now, the Silicon Valley giant has been just a bit-player in the country of 1.2 billion, selling ...

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• 22 June

  Canada OKs expansion of pension plan

  

    Bloomberg Canadian provinces have reached an agreement with the federal government to expand the Canada Pension Plan, adding new payroll taxes to boost benefits while fulfilling a key pledge made by Prime Minister Justin Trudeau in the 2015 election campaign. The expanded CPP is aimed at countering dwindling workplace pension access for younger generations pinched by a weak economy ...

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• 22 June

  Brazilian Real drops as US Fed caution offsets state debt deal

  

  Bloomberg The real dropped after Federal Reserve Chair Janet Yellen signaled renewed doubts about the strength of the world’s largest economy, offsetting local optimism that Brazil’s government is making inroads toward cleaning up its fiscal house. The currency dropped 0.4 percent to 3.4083 per dollar at 5:10 p.m. in Sao Paulo, after earlier advancing as much as 1.2 percent following ...

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