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Siemens lists unit shares
FRANKFURT: Shares in Siemens Healthineers gained as much as 7 per cent in the medical equipment maker’s stock market debut on Friday, boding well for a string of pending German flotations including asset manager DWS. In one of Germany’s biggest listing in recent years, parent Siemens raised 4.2 billion euros from selling a 15 per cent stake in the world’s largest maker of medical imaging equipment. Bernd Montag, Chairman of
Nestle chairman happy with new CEO’s performance
SAO PAULO: Nestle’s chairman gave a vote of confidence to Chief Executive Mark Schneider 14 months into his tenure at the helm of the world’s biggest packaged food company as it struggles to recover from a sixth straight year of slowing growth. “He has moved a lot of things, and the board is happy with that,” Chairman Paul Bulcke told Reuters, in an interview on the sidelines of the World Economic Forum in Sao Paulo. He said the
ASEAN, Australia reject protectionism amid fears of Trump trade war
SYDNEY: The Association of Southeast Asian Nations (ASEAN) and Australia reject protectionism, Australian Prime Minister Malcolm Turnbull and his Singapore counterpart said, amid fears about a possible trade war sparked by US plans to raise tariffs on steel and aluminium imports. “You don’t grow stronger by closing the door to other markets. Protectionism is a dead end. It is not a ladder to get you out of the low growth trap,
H&M reports slowing sales below analysts’ forecasts
STOCKHOLM: Sweden’s H&M reported slowing sales in February, below analysts’ forecasts, having warned last month that its main budget fashion brand was having to cut prices to shift stock. After decades of rapid expansion growing to 4,743 stores, the world’s second-largest clothes retailer behind Zara owner Inditex has seen sales growth stall in recent years as it has struggled to adapt to the online shift and fend off increased
Finland’s gross domestic product growth slows down sharply
HELSINKI: Finland’s gross domestic product (GDP) growth slowed sharply in January to 0.9 per cent year-on-year from 2.7 per cent in December, data showed on Friday, suggesting the economy’s growth spurt was cooling off. The euro zone member is recovering from a decade of stagnation as European economies expand broadly, and some banks have forecast Finnish GDP growth will remain around 3 per cent this year. Seasonally adjusted
Eni raises dividend, says share buyback still possible
LONDON/MILAN: Italy’s Eni increased its dividend and said a share buyback was still possible as the energy company raised its output and cash flow targets. In its 2018-2021 plan, Eni said it would pay a dividend this year of 0.83 euros ($1.02) per share compared to 0.80 euros on last year’s results. It also said a share buyback remained an option to distribute excess cash. “The dividend increase announced today mirrors our
Artificial intelligence can transform industries
SACRAMENTO: The use of bots to meddle in political elections. Algorithms that learn who people are and keep them coming back to social media platforms. The rise of autonomous vehicles and drones that could displace hundreds of thousands of workers. The “robot apocalypse” that some envisioned with the rise of artificial intelligence hasn’t arrived, but machine learning systems are becoming part of Californians’ everyday lives,
Chicago’s $8.5B O’Hare plan advances after deal with American
CHICAGO: Mayor Rahm Emanuel’s plan to spend $8.5 billion upgrading O’Hare International Airport sailed through its first City Council test Thursday, soon after American Airlines agreed to a late-night deal to drop its opposition. The council Aviation Committee adopted an ordinance allowing for new lease and use agreements for the gates at O’Hare to pay for the eight-year project, though some details remained elusive hours after
Salman Khan to shoot month-long 'Race 3' scenes in Abu Dhabi
Abu Dhabi: Bollywood superstar Salman Khan is back! The Indian fil..
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Snapchat CEO's net worth tanks $150m after Rihanna's rant
LOS ANGELES: After singer Rihanna blasted Snapchat for running an ad t..
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Weinstein would prefer it if I were dead: McGowan
LOS ANGELES: Actress Rose McGowan, who alleged that Hollywood producer..
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Actor Jacqueline Fernandez visits Sheikh Zayed Grand Mosque
ABU DHABI: Bollywood superstar Jacqueline Fernandez visited the UAE’s ..
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Backstreet Boys want to open restaurant
LOS ANGELES: Vocal group Backstreet Boys are ready to foray into the r..
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UAE Ambassador to India distributes ERC assistance
NEW DELHI: The UAE Ambassador to India Dr. Ahmed Abdul Rahman Al Banna..
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3 astronauts to blast off for space station on March 21
WASHINGTON: A Soyuz capsule carrying two NASA astronauts and a Russian..
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Myanmar's Suu Kyi pressed on Rohingya crisis at ASEAN summit
SYDNEY: Myanmar's de facto leader Aung San Suu Kyi was pressed about t..
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UAE goes green to celebrate St. Patricks's Day
DUBAI: Today as millions around the world celebrate St. Patrick's Day ..
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Four killed, 19 trapped in Philippine hotel fire
MANILA: A fire broke out at a hotel in the Philippine capital on Sunda..
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