May, 2016

• 26 May

  Integrated Capital co-leads oversubscribed Etihad note

  

    Abu Dhabi / Emirates Business Integrated Capital PJSC (“Integrated Capital”), the capital markets arm of Abu Dhabi Financial Group (“ADFG”), celebrated its strong contribution as a co-lead on the successful completion of the oversubscribed issue of US$ 500,000,000 of Notes by EA Partners II B.V., the funding vehicle for Etihad Airways Partners (“Etihad”). The Notes, listed on the Global ...

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• 26 May

  Citrix, Microsoft to help firms go ‘digital’

  

    Dubai / Emirates Business As businesses today face tectonic shifts within the global economy, success is increasingly defined by the ability to optimize the information surrounding people, organizations and devices. Today at Citrix Synergy, Citrix and Microsoft unveiled an expansion of their strategic partnership to meet the needs of the modern workforce with application and desktop virtualization in the ...

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• 26 May

  Qatar stuns ME debt market with record $9 billion bond

  

    Bloomberg Borrowers and investors across the Middle East are adjusting to a new landscape following the region’s biggest-ever bond sale. Qatar sold $9 billion of Eurobonds in three maturities on Wednesday, almost double the amount expected by analysts. The issue helped push 2016 bond sales from the Middle East and North Africa, which includes Saudi Arabia and the United ...

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• 26 May

  Japan regulates virtual currency post Bitcoin scam

  

    Tokyo / AFP Japan passed a law regulating virtual currency, after the country found itself at the epicentre of a multi-million dollar embezzlement scandal following the spectacular collapse of the Tokyo-based MtGox Bitcoin exchange. Once one of the largest, most established exchanges for the cryptocurrency, MtGox collapsed in 2014 after a suspected theft worth nearly half a billion dollars, which ...

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• 26 May

  China accuses USA of hampering trade with steel duties

    Beijing / AP China accused the United States on Thursday of hampering trade after Washington imposed duties of up to 450 percent on Chinese steel in its latest response to a flood of low-priced imports. The Ministry of Commerce complained US regulators discriminated against Chinese suppliers by using incorrect standards for deciding what production cost and market prices should ...

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• 26 May

  Massive Australian logistics takeover deal hits snag

    Sydney / AFP A multi-billion-dollar deal to break up Australian logistics giant Asciano between local and international suitors hit a hurdle on Thursday after a key corporate regulator raised concerns about reduced competition at ports. The Aus$9.05 billion (US$6.5 billion) takeover, announced in March, would see the rail, freight and ports operator’s assets split between a consortium led by ...

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• 26 May

  China’s Lenovo posts $128 million loss

  

    Hong Kong / AP Chinese technology giant Lenovo said on Thursday it posted a net loss last year, as its smartphones struggle to keep apace with Apple and Android rivals and as the market for personal computers fizzles. The Beijing-based company, which has traditionally manufactured computers but has been trying to broaden its smartphone business after scooping up Motorola ...

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• 26 May

  RIL and BP ready to drop arbitration over gas prices

  

    Mumbai / Bloomberg Reliance Industries Ltd. and BP Plc are seeking to end their disputes with the Indian government over an offshore natural gas block, one requirement for the companies before they can take advantage of new pricing policies, according to people familiar with the development. The two explorers and a third partner, Canada’s Niko Resources Ltd., are preparing ...

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• 26 May

  EDF staff join French strikes as Valls defends labour reform

  

    Bloomberg Some Electricite de France (EDF) workers joined strikes at oil refineries, cutting power output, as the government vowed not to back down revising a labour law and businesses warned of economic damage if the protests continued. “What are the alternatives – a withdrawal of the text? That’s impossible,” Prime Minister Manuel Valls said on Thursday on RMC radio. ...

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• 26 May

  France’s Hollande ‘right’ on reforms, says Schaeuble

  

    Berlin / AFP Germany’s finance minister on Thursday voiced backing for the French government’s labour reforms that have sparked crippling strikes, saying France was capable of withstanding such social opposition. “France is obviously not unreformable,” Wolfgang Schaeuble told journalists, adding that President Francois Hollande “is right” to champion the reforms. He shrugged off the impact of the strikes that have ...

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