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‘Dubai boat show’ to return with incredible experiences

Dubai / Emirates Business The Dubai International Boat Show is readying for 2019, returning to the UAE’s most impressive city with a new look show celebrating all that makes a boating lifestyle so incredible. Heading into its 27th year, the Boat Show – taking place at the Dubai Canal from February 26 through March 2 – will once again gather ...

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Aluminium industry generated AED20bn for national economy

Abu Dhabi / WAM Emirates Global Aluminium (EGA), and the aluminium sector which has grown around it, have generated economic activity accounting for 1.4 percent of the entire UAE economy, according to an expert study. The sector also supported 60,950 UAE jobs in 2017. One in every 100 people working in the UAE is employed in the aluminium sector, its ...

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Samsung 5G network grab gets boost with Huawei, ZTE trouble

Bloomberg Samsung Electronics Co. is making a new push in the market for wireless network infrastructure. This time, the South Korean electronics giant’s timing may be just right. Mounting concerns in Europe and elsewhere about letting China’s ZTE Corp. and Huawei Technologies Co. provide vital components for fifth-generation cellular networks have coincided with Samsung’s ambition to capture 20 percent of ...

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Chinese drug regulator becomes world’s fastest

Bloomberg China is blowing through regulatory milestones as it completes an astonishing transformation from a market where basic Western drugs were once scarce to one where life-saving treatments are available ahead of the US — all in less than a year. The latest announcement that China has approved an anemia treatment from AstraZeneca Plc and FibroGen Inc. ahead of the ...

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‘Big four’ accountants face UK overhaul without breakup

Bloomberg The Big Four accounting firms may have to split their operations into separate UK business units as part of a sweeping overhaul of the industry proposed by regulators that stopped short of the measures sought by some critics. The Competition and Markets Authority said audit work should be split from the much larger consulting business at an operational level, ...

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GE files confidentially for health unit IPO

Bloomberg General Electric Co (GE) has filed confidentially for an initial public offering of its health-care unit, according to people familiar with the matter, moving ahead with plans to spin off its second most profitable business line. The industrial conglomerate is working with Goldman Sachs Group Inc, Bank of America Corp, Citigroup Inc, JPMorgan Chase & Co and Morgan Stanley ...

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UK companies face action on ‘loyalty penalty’

Bloomberg Providers in the UK’s markets for cash savings, mortgages, insurance, mobile phone contracts and broadband are burdening customers with a “loyalty penalty” of around 4 billion pounds ($4.4 billion) a year, the Competition and Markets Authority said. Vulnerable people, including the elderly and those on a low income, may be more at risk of overpaying for key financial services ...

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‘US to review curbs on North Korea humanitarian aid’

Bloomberg A US nuclear envoy said Washington would review policies preventing Americans from providing humanitarian to North Korea, including the travel ban, in a potential overture to restart talks with Kim Jong-un. Stephen Biegun, the US’s special representative for North Korea, disclosed the move, as he began a four-day trip to South Korea. The former Ford Motor Co. executive will ...

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Masdar-backed wind farm in UK gets AED5.9bn refinancing

ABU DHABI / WAM The owners of the 402-megawatt (MW) Dudgeon wind farm in Britain’s North Sea, Masdar, Equinor and China Resources Group, have announced the signing of a hybrid refinancing that includes approximately GBP561 million (AED 2.6 billion) of commercial bank debt and GBP706 million (AED 3.275 billion) of senior secured notes privately placed with institutional investors, finally maturing ...

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UAE, US joint military exercise concludes

ABU DHABI / WAM The joint military exercise between the ground forces of the UAE and the United States has concluded. The “Iron Union 9” exercise, which continued for two weeks, comes within the framework of the joint exercises of the UAE Armed Forces with fraternal and friendly countries to enhance their combat skills. The final day of the exercise ...

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