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Bloomberg General Electric Co jumped as Chief Executive Officer Larry Culp accelerated plans to pare the company’s stake in Baker Hughes with a deal that wo- uld raise about $4 billion at current prices. GE will sell as many as 166.2 million shares in the oilfield-services provider through a secondary offering and a stock repurchase by Baker Hughes, the companies ...

Bloomberg Johnson Controls International Plc’s $13.2 billion sale of its car-battery business completes the company’s dramatic makeover from an automotive supplier to a provider of systems for homes and buildings, setting the stage for growth through acquisitions. Chief Executive Officer George Oliver is betting on continued growth of “smart buildings” as companies seek to boost efficiency of working spaces with ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) on Tuesday hosted senior oil, gas and technology leaders at the inaugural Adnoc Artificial Intelligence (AI) Forum. The event was held at Adnoc HQ in its state-of-the Panorama Digital Command Centre, to discuss radical industry shifts, the rise of AI and how collectively, the industry can accelerate AI advancement ...

Abu Dhabi / WAM The oil and gas industry must secure more than US$10 trillion worth of investment over the next 22 years if it is to meet the forecast growth in demand for energy and industrial petroleum-based products. According to figures from the OPEC World Oil Outlook 2040, the total oil and gas value chain will need around $10.5 ...

Abu Dhabi / WAM The size of Japanese investments in Abu Dhabi reached approximately AED6.1 billion by end of 2017, while the number of trade licenses issued to Japanese investors in Abu Dhabi reached 32. Similarly, the value of non-oil trade between Japan and Abu Dhabi stood at AED9.803 billion between January and October 2018, compared to AED8.320 billion in ...

Dubai / Emirates Business Arab Health, the largest exhibition for healthcare and trade professionals in the Mena region, has announced that more than $778 million worth of business was generated by exhibitors during the 2018 edition of the show. This figure is in line with Alpen Capital’s projections that GCC healthcare spend will reach $104.6 billion in 2022 from an ...

Bloomberg Asian nations gave up hopes of completing a 16-nation trade bloc this year, with Chinese and Australian officials now looking to finalise the deal in 2019. Singapore, which is chairing the 10-member Association of Southeast Asian Nations this year, had pushed for a substantial conclusion to the agreement this year. Known as the Regional Comprehensive Economic Partnership, or RCEP, ...

Bloomberg India’s first inland voyage by a container ship since it gained independence from Britain 70 years ago ended when the vessel docked in the holy city of Varanasi today, a development officials hope will help shift cargo from the country’s congested road and rail networks. The 1,390 kilometres Ganga watercourse is one of the 111 waterways spanning 20,276 kilometres ...

Bloomberg California utilities are facing the very real possibility that billion-dollar blazes could become an annual occurrence, and they don’t know how to pay for them. Shares of the state’s two largest utilities plummeted after both PG&E Corp. and Edison International released reports suggesting their equipment may have started the deadly fires now burning at both ends of the state. ...

Bloomberg Vodafone Group Plc shares jumped 7.1 percent after the mobile phone company’s new chief executive unveiled stro-nger than expected results in a fiercely competitive market and kept the dividend stable while he tries to rein in debt. Investors were already bracing for CEO Nick Read to end Vodafone’s policy of constant dividend growth after the $22 billion takeover over ...