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Bloomberg Fortis Healthcare Ltd.’s board of directors chose IHH Healthcare Bhd. to take control of India’s second-largest hospital chain, ending a months-long takeover battle as the company wrestles with investigations over financial irregularities. Malaysia-based IHH’s offer would see $583 million invested directly in the company through a preferential allotment of shares at 170 rupees a share, according to a statement ...

Bloomberg MCH Group AG, the owner of Art Basel, is launching a new art fair in Singapore starting next year to take advantage of the growing wealth in Asia, which is minting millionaires faster than any other region in the world. The new expo, called ART SG, will hold its inaugural event in November 2019 with about 80 galleries from ...

Bloomberg Secretary of State Michael Pompeo and Treasury Secretary Steven Mnuchin rejected a request from European leaders for broad-based waivers from sanctions the US will reimpose on countries that do business with Iran after the President Donald Trump backed out of the 2015 nuclear accord. In a letter whose contents were described to Bloomberg News, Pompeo and Mnuchin told the ...

Bloomberg Google’s latest European Union (EU) woes could mean opportunity knocks for app developers stymied by contracts that pre-install the US giant’s own services on Android phones and tablets, according to analysts and companies. The Alphabet Inc. unit is expected to face an antitrust fine over Android in the coming days that could top last year’s record 2.4 billion-euro ($2.8 ...

Bloomberg American Tire Distributors (ATD) Inc., seeking to bolster itself after two of the biggest brand names pulled their business, said other suppliers will fill the gap and that it’s already posted sales gains in the first half of this year. ATD, North America’s largest tire distributor, had “strong success” in converting to other suppliers and has a “robust pipeline ...

ABU DHABI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, have welcomed the milestone visit of President Xi Jinping of China, at the head of ...

Cairo / Emirates Business Emirates unveiled its 42nd dedicated lounge across its global network at Cairo International Airport (CAI). The lounge is now open to Emirates First Class and Business Class customers as well as Platinum and Gold members of Skywards, the airline’s loyalty programme. Reflecting the airline’s ongoing commitment to Egypt, the Emirates Lounge in Cairo represents a $ ...

Abu Dhabi / WAM The UAE is undisputedly the most important stop on China’s 21st Century Maritime Silk Road Initiative, thanks to its world-class infrastructure and the top rankings in the world’s quality indices. The Industrial and Commercial Bank of China, one of the largest financial establishments in the world with estimated assets of $2.3 trillion, has already set its ...

Sharjah / WAM Sharjah Airport has announced that it registered a growth of 4.34 percent in passenger movement during the first half of 2018, with the number of passengers increasing to more than 5.731 million, compared with 5.493 million passengers in the same period of 2017. The increase is a result of newly expanded service offerings for both passengers and ...

Bloomberg Elliott Management Corp. said it was seeking compensation for at least $770 million in damages from South Korea over how its former administration intervened in the merger of Samsung C&T Corp. and Cheil Industries Inc. in 2015. Billionaire Paul Singer’s New York-based hedge fund had submitted the dispute for arbitration and urged the government to pay the damages in ...