Profits take a hit at Entertainment One. FT Opening Quote is your early Square Mile briefing. You can sign up for the full newsletter here. Efforts to strengthen Entertainment One’s film division will hit its full-year profits by almost £50m, the company announced today, after it renegotiated one of its main distribution agreements, writes FastFT. Entertainment One is best known for producing television programmes such as Peppa […]
Aldar Properties has signed a partnership agreement with Al Fahim Group to bring the world’s first Mercedes-Benz and AMG showroom and express service centre to Yas Island. Construction is scheduled to start in the fourth quarter of 2017, with handover to Al Fahim Group in early 2019, Aldar said in a statement. The 5,900 sq m Mercedes-Benz and AMG showroom represents a sizable portion of the gross […]
By Ju-min Park and Christine Kim | SEOUL SEOUL South Korea’s new president launched international efforts to defuse tension over North Korea’s weapons development on Thursday, urging both dialogue and sanctions while also aiming to ease China’s anger about a U.S. anti-missile system. Moon Jae-in, a liberal former human rights lawyer, was sworn in on Wednesday and said in his first speech as president he would immediately […]
WILMINGTON, Del. A judge effectively killed off any practical chance of Anthem Inc (ANTM.N) merging with Cigna Corp (CI.N) on Thursday as he declined to order Cigna not to terminate the deal. Judge Travis Laster of Delaware’s Court of Chancery denied Anthem’s request for a preliminary injunction but stayed implementation of his ruling until noon on Monday to give the insurer time to decide if it will […]
Verizon had a bidding war with AT&T over Straight Path Communications and it just sealed the deal, acquiring the company for more than $3 billion. More specifically, Verizon outbid AT&T and agreed to pay $184 per share in an all-stock transaction, amounting to $3.1 billion in total. The bidding war started when AT&T offered $95.63 per share, but Verizon raised and AT&T folded. Verizon Outbid AT&T “[T]he […]
Volkswagen AG’s (VOWG_p.DE) U.S. unit said Thursday it has named a KPMG LLP director, Stephanie C. Davis, as its chief compliance officer after it was sentenced in April in its diesel emissions scandal. The German automaker said Davis has worked at the audit, tax, and advisory firm on compliance issues. Last month, former deputy U.S. attorney general Larry Thompson was tapped to serve as independent monitor of […]
By Tom Perry and Laila Bassam | BEIRUT BEIRUT Lebanon is on the brink of crisis again with its politicians at odds over an election law at the heart of the nation’s sectarian system, threatening to leave the country without a parliament for the first time. Parliament’s term expires on June 20 and without a compromise Lebanon faces what one minister has called the most serious political […]
The lead characters are a Norwegian couple who had Middle East experience and thought they might be able to broker an agreement. This was high-octane audacity. Yet the two of them — Terje Rod-Larsen, a social scientist, and his wife, Mona Juul, an official in Norway’s foreign ministry — pulled it off. Continue reading the main story The play’s Mr. Larsen, portrayed by Jefferson Mays, seems a […]
10 May 2017 BP today announced that it has started gas production from the first two fields, Taurus and Libra, of the West Nile Delta development in Egypt. The project was delivered eight months ahead of start-up schedule and under budget. First gas was exported to Egypt’s national grid on 24 March 2017 and the commissioning of all nine wells of the development’s first two fields and […]
ZURICH Switzerland will curb Bulgarian and Romanian citizens’ access to its labour market for the next 12 months, the government said on Wednesday, amid increased migration from those countries after limits were lifted last June. The Swiss cabinet, whose struggle with immigration from the European Union intensified after a 2014 referendum in which the public demanded that quotas be imposed, will cap the number of five-year residence […]
The Indian government issued an ordinance at the end of last week laying out some new powers for the Reserve Bank of India, powers which are aimed at chipping away at the country’s mammoth and thoroughly discussed bad loan problem. Here’s CreditSights with a brief explanation: In essence, two additional sections 35AA and 35AB were introduced into the Banking Regulation Act. 35AA will allow the government […]
Turkish President Recep Tayyip Erdogan said Tuesday his country’s trade with the energy-rich Gulf had yet to reach its full potential, as he visited a region where Ankara aims to strengthen ties. “We want to develop trade volume with the Gulf states, which last year reached $17.4 billion (15.9 billion euros),” Erdogan said in Kuwait. “Compared with the potential we have, this size is below the required […]
Enhancing Kuwait’s arbitration legal framework in order to render Kuwait a more attractive arbitration venue in the region Kuwait – 10 May 2017 ASAR – Al Ruwayeh & Partners (ASAR), Kuwait’s leading corporate, litigation and finance law firm, co-organized a leading seminar on arbitration with the International Court of Arbitration of the International Chamber of Commerce – Paris (ICC). The ICC is one of the oldest and […]
Emirates SkyCargo and Cargolux Airlines on Tuesday signed an agreement for a strategic operational partnership in air cargo transportation. The deal, the first of its kind in the air cargo industry between a mainline airline and a specialised freighter operator, will allow cooperation between two carriers with complementary strengths and shared values for customer service excellence, they said in a joint statement. Under the terms of the […]
DUBAI, May 9 Expo 2020 Dubai has chosen leading global logistics firm UPS to handle the logistics operations for Expo 2020 Dubai, which is expected to attract millions of visitors over its six-month duration. With more than 180 countries expected to participate and hundreds of thousands of visitors on peak days, the next World Expo will be one the most complex logistics projects UPS has tackled. As […]
ABU DHABI // Sheikh Mohammed Bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, will hold talks with US president Donald Trump in Washington on Monday. White House spokesman Sean Spicer said the meeting is aimed at deepening Washington’s cooperation with a key Middle East partner. The meeting is scheduled to take place a week before Mr Trump makes the first […]
The world’s biggest oil producers Russia and Saudi Arabia on Monday eyed up extending an output reduction deal ahead of an OPEC meeting later this month. “Russia is in solidarity with the efforts of our partners to rebalance the market and considers that the joint initiative to stabilise the world oil market is currently effective,” energy minister Alexander Novak said, Russian news agencies reported. “We are discussing […]
WASHINGTON U.S. President Donald Trump will not make a decision on whether the United States should remain in the Paris climate agreement until after he returns from the May 26-27 G7 summit, the White House said Tuesday. White House spokesman Sean Spicer said that Trump is continuing to hear from advisers on the pros and cons of the United States remaining in the global accord, but that […]
JEDDAH: Syrian Foreign Minister Walid Al-Moallem said on Monday his country would reject any UN role in monitoring the implementation of four “de-escalation” zones.“We do not accept a role for the UN or international forces to monitor the agreement,” Al-Moallem told reporters in Damascus.Regime backers Russia and Iran and opposition supporter Turkey reached a deal on Thursday on four “de-escalation zones” in Syria where the regime and […]
OSLO Nations around the world have adopted more than 1,200 laws to curb climate change, up from about 60 two decades ago, which is a sign of widening efforts to limit rising temperatures, a study showed on Tuesday. “Most countries have a legal basis on which future action can be built,” Patricia Espinosa, the U.N.’s climate change chief, told a webcast news conference of the findings issued […]
Credit: CC0 Public Domain Investing in new ways of utility-scale electricity storage and capturing carbon to store underground should be a priority for governments aiming to meet the greenhouse gas and ‘green energy’ targets set out in the Paris Agreement despite shrinking research and development budgets, suggests a new paper published today in Nature Energy. Researchers analyzed a range of studies and expert reports on public energy […]
The news has been abuzz lately with a forex (foreign exchange market) investment company based in Penang. The company has around 400,000 investors/members, and they have all not received their promised dividends recently. Worse still, they were all denied access when they tried to log into their accounts on the website. Even when they tried going to the offices, they could not get answers because the offices were CLOSED!!! […]
Feathery clouds hang above a stretch of aquamarine water, bordered by a hilly island landscape speckled with pastel-coloured houses. There’s a cruise ship, some yachts, a couple of chase boats and some sailboats – but not the typical kind, with soft fabric sails fluttering in the wind. These are professional racing sailboats, with statuesque sails that sport the logos of luxury brands. They are riding the waves […]
GENEVA United Nations mediator Staffan de Mistura said on Monday that he was reconvening peace talks between the Syrian government and opposition in Geneva on May 16. In a statement, de Mistura voiced hope that the agreement reached last week in Astana among Russia, Iran and Turkey to set up “de-escalation” zones in Syria will be implemented in full “thus bringing about a significant de-escalation in violence, […]
