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Bloomberg A Chinese biotech company which claimed to be able to manufacture an experimental drug from Gilead Sciences Inc with the potential to treat the novel coronavirus, was censured for disclosing inaccurate information. The Shanghai Stock Exchange said in an statement that BrightGene Bio-Medical Technology Co has not gained approval from China’s drug regulator to make the drug known as ...

Bloomberg Masayoshi Son’s pitch to US hedge funds and financial institutions on the merits of SoftBank Group Corp just got harder, with a record market plunge that has made investors skittish and raised risks for its portfolio companies. The Japanese billionaire will be in New York for the first such meeting since the implosion of WeWork. In the months since, ...

Bloomberg Huawei Technologies Co, the Chinese technology giant barred from doing business with US suppliers, is finding a way around the strict limits imposed by the Trump administration. The Commerce Department, citing national security concerns, has largely forbidden American companies from selling Huawei the computer chips it needs to make a piece of equipment integral to newly introduced high-speed wireless ...

Bloomberg Nokia Oyj will replace Chief Executive Officer Rajeev Suri after the Finnish maker of telecommunications gear lost ground to rivals including Huawei Technologies Co in the race for 5G networks. Pekka Lundmark, the CEO of Fortum Oyj, will take over from Suri at the start of September. Nokia is also set to elect Sari Baldauf as its new chairman ...

Bloomberg When Twitter Inc executives met their activist investor agitators from Elliott Management Corp for the first time last week, the man with the most to lose was absent. Jack Dorsey, the Twitter chief executive officer whose role is in the crosshairs, didn’t attend the summit in San Francisco where his future was the main topic of conversation, according to ...

DUBAI / WAM Dubai Silicon Oasis Authority (DSOA) on Sunday signed a strategic agreement with Dubai Chamber of Commerce and Industry to support start-ups and entrepreneurs in Dubai. The agreement was signed between Dubai Technology Entrepreneur Campus, Dtec, the largest tech hub and coworking space in the Mena region, wholly owned by DSOA, and Dubai Startup Hub, an initiative of ...

ABU DHABI / WAM An AED254.4-million infrastructure project has been completed in the Al Shawamekh area, Abu Dhabi. Musanada, the Abu Dhabi General Services Company delivered sectors 7 & 12 of the roads and infrastructure project in the area, which included constructing internal roads and building infrastructure for residential plots spanning 2.2 million square metres. In a statement on Sunday, ...

DUBAI / WAM The gold and jewellery market, which is among the pillars of Dubai’s reputation as a global retail hub and shopping destination, continues to enjoy consumer confidence and remain a leading economic activity in the emirate. Efforts by the Commercial Compliance and Consumer Protection, CCCP, sector at Dubai Economy to improve awareness over consumer rights, while also strengthening ...

Dubai / WAM Dubai Future Accelerators (DFA), an initiative of Dubai Future Foundation (DFF), launched the 7th cohort of its programme that seeks to position Dubai as a hub for innovation, emerging technologies and an ideal destination for start-ups and entrepreneurs with bold solutions to future challenges. Based on the requirements provided by the participating entities – Dubai Police, Dubai ...

Bloomberg South Korea urged the US to “refrain from taking excessive measures” after the State Department raised its travel advisory on the Korean city of Daegu, where most of the nation’s novel coronavirus cases are centred. Foreign Minister Kang Kyung-wha spoke to US Deputy Secretary of State Stephen Biegun by phone, according to a statement from the South Korean foreign ...