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Bloomberg Thyssenkrupp AG’s chief Heinrich Hiesinger is facing the fight of his career as a pair of activist investors take aim at the German industrial giant. Elliott Management Corp. is building a stake in the company and wants to oust the 57-year-old chief executive for failing to guide the company through a turnaround, according to people familiar with the matter. ...

Bloomberg US President Donald Trump expressed pessimism about whether the summit with North Korea’s leader would take place, even as American officials pressed ahead with plans for a historic meeting on June 12 in Singapore. South Korean President Moon Jae-in flew to Washington for the day amid growing uncertainty about North Korean leader Kim Jong-un’s goals for the summit after ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has said the UAE, in cooperation with other Arab and Muslim countries as well as religious scholars, is forging ahead with its efforts to promote the quintessential Islamic values and principles of peaceful co-existence, ...

SHARJAH / WAM Sharjah Healthcare City Authority (SHCC), in a press briefing on Tuesday announced that the Abu Dhabi based Ahalia Group has been awarded the permission to set up a $100 million, 120 bed hospital. This multi-specialty hospital spread across 50,000 square meters is the very first hospital to set its footprint within the mega healthcare city. Ahalia Group ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc), on Tuesday announced that it is receiving considerable interest from potential partners, as it explores a range of new growth options and initiatives to accelerate the delivery of its recently announced downstream strategy. The new downstream plans were outlined May 13 at the Adnoc Downstream Investment Forum in Abu ...

Dubai / Emirates Business The Dubai Chamber of Commerce and Industry led a study mission to Russia and Belarus which explored business potential within the countries’ IT markets, as well as prospects for new partnerships and joint ventures in several innovation-focused sectors. The study mission included visits to Moscow and Minsk where delegates held high-level meetings with officials and representatives ...

Bloomberg China will cut the import duty on passenger cars to 15 percent, further opening up a market that’s been a chief target of the US in its trade fight with the world’s second-largest economy. The Finance Ministry said the levy will be lowered effective July 1 from the current 25 percent that has been in place for more than ...

Bloomberg Eight years ago, before China’s Xiaomi Corp. had sold a single smartphone, 56 of the earliest employees pulled together $11 million to invest in the startup. Rank-and-file workers dipped into savings and borrowed from parents. One receptionist tapped her dowry. Today, they’re the Lucky 56. Xiaomi is one of the most successful smartphone makers in the world and it’s ...

Bloomberg President Donald Trump retreated from imposing tariffs on billions of dollars worth of Chinese goods because of White House discord over trade strategy and concern about harming negotiations with North Korea, according to people briefed on the administration’s deliberations. Trump also succumbed to pressure from farm-state Republicans, who heavily lobbied the White House to resolve its trade differences with ...

Bloomberg The European Union scrambled to come up with a strategy to avoid US tariffs on foreign steel and aluminum, signaling a readiness to accept American import quotas and to slash some EU duties in return for a permanent waiver. With an EU exemption from the metal levies due to lapse on June 1, European Trade Commissioner Cecilia Malmstrom indicated ...