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Bloomberg As money rushes into China’s fledgling biotechnology sector, Eli Lilly & Co. and other foreign drugmakers are scaling back. Eli Lilly, along with GlaxoSmithKline Plc, announced plans the past few months to cut research teams in China, after Novartis AG shuttered a biotech research unit there a year ago. “This closure comes after careful study and consideration, and is ...

Bloomberg The US has been disappointed this year at China’s lack of progress in pursuing market-oriented reforms, said a senior administration official, ratcheting up the pressure on the world’s second-largest economy ahead of President Donald Trump’s visit there next month. While China made progress in previous decades toward market pricing and reducing the number of state-owned enterprises, the US is ...

Bloomberg Vivo, the fast-growing smartphone brand backed by reclusive Chinese billionaire Duan Yongping, will begin selling to Western markets for the first time as it accelerates a global expansion. Emboldened by its success against Apple Inc. and Samsung Electronics Co. at home, the company now intends to tackle developed markets with higher-end devices. In coming months, China’s third-largest smartphone brand ...

Bloomberg General Electric Co.’s new boss promised “sweeping change” as he delivered a brutal assessment of the 125-year-old manufacturer. Results for the latest quarter are “completely unacceptable,” Chief Executive Officer John Flannery told investors as he slashed the profit forecast and pledged to unload $20 billion of GE businesses. “We need to make some major changes with urgency and a ...

Bloomberg For UK Plc, the sting of Brexit comes with an unexpected bonus. With no effort on their part, the biggest British businesses may see pension deficits that have burdened them for years be practically wiped out if long-term bond yields rise 50 basis in the next year and they budget for slowing gains in life expectancy, according to estimates ...

Bloomberg Prime Minister Shinzo Abe’s ruling coalition retained its two-thirds parliamentary majority in Sunday’s general election, unofficial results showed, bolstering his chances at becoming Japan’s longest-serving leader. Abe’s Liberal Democratic Party and coalition partner Komeito won at least 310 of the 465 up for grabs, according to results shown on public broadcaster NHK. Opposition parties split the rest, with the ...

ABU DHABI / WAM The much anticipated inaugural FinTech Abu Dhabi event will kick-off on Sunday with distinguished regional and international leaders from the world of FinTech flying in and gathering at Abu Dhabi for a two-day event on October 22-23. FinTech Abu Dhabi, under the patronage of HH Sheikh Hazza bin Zayed Al Nahyan, Deputy Chairman of Abu Dhabi ...

ABU DHABI / WAM Airports Council International (ACI) awarded AbuDhabi International Airport (AUH), the ‘Best Airport in the Middle East’ and ‘Best Improved Airport: the Middle East’ accolades at the annual ASQ awards, held in Mauritius as part of the 27th ACI Africa/World Annual General Assembly, Conference and Exhibition. The ASQ Awards recognise airports around the globe that demonstrate a ...

Abu Dhabi / WAM The Masdar Institute of Science and Technology, a research-driven graduate-level institution focused on advanced energy and sustainable technologies, on Saturday announced that it is hosting the 2017 IFIP/IEEE International Conference on Very Large Scale Integration-System on Chips (VLSI-SoC) on the theme of ‘The Internet of Things: SoC Opportunities and Challenges’. Masdar Institute is part of the ...

AJMAN / WAM Abdullah Saeed Al Nuaimi, Ajman Chamber of Commerce and Industry Board of Directors Member, met with Fernando Luis Lemos Igreja, Ambassador of Brazil to the UAE, where they discussed ways to enhance and consolidate economic relations between the two sides. Al Nuaimi praised the economic cooperation between the UAE and Brazil, pointing out that the growth of ...