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Bloomberg Toshiba Corp.’s former memory chip business, acquired this month by a group led by Bain Capital, intends to pursue acquisitions as it prepares for an initial public offering in three years. Toshiba Memory Corp. intends to rely on its own cash flow to sustain capital spending at a pace of hundreds of billions of yen a year, Yuji Sugimoto, ...

Bloomberg Park Hong-sik, a fund manager who correctly predicted the rally of South Korean technology stocks in 2017, has a new bet for this year: Shipbuilders. Four of the world’s five best-performing major shipbuilders this year are from South Korea, including Daewoo Shipbuilding & Marine Engineering Co., which has rallied 94 percent, according to the Bloomberg Intelligence Asia Shipbuilding Valuation ...

Bloomberg Bayer AG is days away from a transformation into the world’s biggest maker of seeds and agricultural chemicals, saying it plans to close its purchase of Monsanto Co. this week. Bayer will retain its name and drop Monsanto’s as it closes the deal on Thursday while raising as much as 26 billion euros ($30 billion) in shares and bonds. ...

Bloomberg Investors are worried that political upheaval in Italy will derail euro-area economic growth. Concerns over the new populist government’s euro-skeptic tendencies and budget-busting spending plans prompted a slide in sentiment among financial-market participants, according to a survey by Sentix. Expectations for the euro-area economy dropped to the lowest since August 2012, when the region was embroiled in a debt ...

Bloomberg US consumer spending rose in April by the most in five months and inflation held at the Federal Reserve’s target, adding to signs of solid economic growth that support the central bank’s plan for gradual interest-rate hikes. Purchases, which account for about 70 percent of the economy, increased 0.6 percent from the prior month, topping forecasts, after a 0.5 ...

Bloomberg Three days after being sworn in, Italy’s new populist government is preparing for one final hurdle before it sets about trying to overhaul European Union rules and the established order: a confidence vote in both houses of parliament. Parliamentary approval will be sought this week for the 18-member cabinet of Prime Minister Giuseppe Conte, a 53-year-old law professor with ...

ABU DHABI / WAM On Monday, the UAE will celebrate the annual Zayed Humanitarian Work Day on 19th Ramadan, which will coincide with the anniversary of the death of the late Sheikh Zayed bin Sultan Al Nahyan. This year’s celebrations will witness the launch of important humanitarian and charity initiatives, through thousands of government and community events organised by public, ...

Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc), on Sunday announced that it expanded its annual Ramadan activities, committing to provide more than one million community members with food, water and power, helping to enhance Muslims’ lives during the Holy Month of Ramadan, across the UAE, on the occasion of the Zayed Humanitarian Day. Adnoc’s Ramadan programme ...

Dubai / WAM Dubai has become the first city in the Middle East and 24th in the world to be appointed a UNESCO Creative City of Design. During a press conference held on Sunday at the Youth Hub in the Emirates Towers, the UNESCO announced the selection of Dubai as the first Creative City of Design in the Middle East ...

Abyan / WAM The Emirates Red Crescent (ERC), continues to distribute Ramadan iftar meals in the Abyan governorate with the support of HHSheikha Latifa bint Mohammed bin Rashid Al Maktoum, wife of HH Sheikh Mohammed bin Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah. The ERC distributed Ramadan iftar meals in Zanzibar and Khanfar districts and started the distribution ...