BUSINESS | LVMH Submit Disputed Tiffany Takeover For EU Clearance

PARIS | FRANCE - LVMH said on Friday it had submitted its troubled takeover of Tiffany, which is now at the centre of  a legal dispute between the two groups, for EU approval as it seeks to counter accusations that it deliberately stalled antitrust proceedings. The French group’s $16 billion acquisition of the U.S. jeweler … Continue reading BUSINESS | LVMH Submit Disputed Tiffany Takeover For EU Clearance

BUSINESS | Saudi: 500 Licenses for Foreign Investments Granted in H1

RIYADH  - The Saudi Ministry of Investment said it has issued more than 500 licenses for foreign investments during the first half of 2020, despite the repercussions of the COVID-19 pandemic. The ministry granted 506 licenses during the first half of the year, registering a 20 percent growth in foreign investment in the first quarter, … Continue reading BUSINESS | Saudi: 500 Licenses for Foreign Investments Granted in H1

BUSINESS | Israel And UAE Agree To Cooperate On Financial Services: Israeli Statement

MILAN | ITALY – Israel and the United Arab Emirates agreed on Tuesday to set up a joint committee on financial services cooperation with the aim of promoting investment between the two countries, an Israeli statement said. Israeli and UAE officials meeting in Abu Dhabi signed the understanding, Israeli Prime Minister Benjamin Netanyahu said in … Continue reading BUSINESS | Israel And UAE Agree To Cooperate On Financial Services: Israeli Statement

BUSINESS | OPEC+ Panel Shifts date of Next Meeting To August 19: Sources

LONDON – An OPEC+ ministerial panel monitoring the group’s oil supply reduction deal will hold its next virtual meeting on Aug.19, a day later than previously planned, three OPEC+ sources said on Friday, without giving a reason for the date change. The panel, called the Joint Ministerial Monitoring Committee (JMMC), advises the Organization of the … Continue reading BUSINESS | OPEC+ Panel Shifts date of Next Meeting To August 19: Sources

BUSINESS | Oil Slips Below $45 On Demand Doubts, Rising Supply

Oil Refinery, Chemical & Petrochemical plant abstract at night. NEW YORK – Oil slipped further below $45 a barrel on Friday, giving up this week’s gains, under pressure from doubts about demand recovery due to the novel coronavirus pandemic rising supply. Two prominent forecasters, the International Energy Agency and the Organization of the Petroleum Exporting … Continue reading BUSINESS | Oil Slips Below $45 On Demand Doubts, Rising Supply

BUSINESS | Saudi Stock Exchange To Launch Environmental Index With MSCI: CEO

RIYADH | SAUDI ARABIA – Saudi Arabia’s stock exchange (TADAWUL) plans to launch an environmental, social or governance (ESG) index in cooperation with global index provider MSCI by the fourth quarter of this year or first quarter of 2021, the bourse’s chief executive said on Wednesday. The index will include at least 70 Saudi listed … Continue reading BUSINESS | Saudi Stock Exchange To Launch Environmental Index With MSCI: CEO

BUSINESS | Saudi Information Security Firm Elm To Aquire Tabadul

Saudi information security company Elm is to acquire digital services company Tabadul from Saudi Arabia’s sovereign wealth fund, Elm said in a statement on Sunday. The Public Investment Fund (PIF) also owns Elm and was considering an initial public offering of the information security company, sources told Reuters in May. The value of the deal, … Continue reading BUSINESS | Saudi Information Security Firm Elm To Aquire Tabadul

SOCIAL MEDIA | Twitter Labels State Media, Government Officials’ Account

MILAN – Twitter Inc. will label the accounts of state-affiliated media outlets, their senior staff and some key government official, the company said in a blog post on Thursday. The accounts of Russia’s Sputnik, RT, and China’s Xinhua News are among the media organizations that will be labeled, according to a Twitter spokesman. He declined … Continue reading SOCIAL MEDIA | Twitter Labels State Media, Government Officials’ Account

BUSINESS | Adidas Predicts Profit Rebound After Pandemic Hit

MILAN| ITALY – German sportswear firm Adidas said on Thursday it expects a rebound in profits in the third quarter after it plunged to a big loss in the second quarter which the majority of its stores were closed due to coronavirus lockdowns. Adidas reported a second-quarter operating loss of 333 million euros ($395.60), worse … Continue reading BUSINESS | Adidas Predicts Profit Rebound After Pandemic Hit

SOCIAL MEDIA | Facebook, Twitter Pull Trump Posts Over Coronavirus Misinformation

MILAN | ITALY – Facebook Inc. on Wednesday took down a post by U.S. President Donald Trump, which the company said violated its rules against sharing misinformation about the coronavirus. The post contained a video clip, from an interview with Fox & Friends earlier in the day, in which Trump claimed that children are ‘almost … Continue reading SOCIAL MEDIA | Facebook, Twitter Pull Trump Posts Over Coronavirus Misinformation