Huawei opposes amendments made by the US Department of Commerce to its foreign direct product rule
NEW YORK: “Huawei categorically opposes the amendments made by the US Department of Commerce to its foreign direct product rule that target Huawei specifically”. This...
Total discontinues the acquisition of Occidental Petroleum’s assets in Ghana
PARIS: In August 2019, Total and Occidental Petroleum entered into a Purchase and Sale Agreement (PSA) in order for Total to acquire Anadarko’s assets in...
Total becomes one of the leading electricity and gas suppliers in Spain
PARIS, FRANCE: Total S.A strengthens its positions in generation and supply of electricity and gas in Spain through the acquisition of the Energías de Portugal’s...
JCPenney enters financial restructuring agreement with lenders
PLANO, TEXAS: J.C. Penney Company, one of the nation’s largest apparel and home retailers, has entered into a restructuring support agreement (RSA) with lenders holding...
Air passenger traffic down 98.3% driven by travel restrictions worldwide
LUXEMBOURG: Corporación América Airports, the largest private sector airport operator in the world by number of airports, has reported a 98.3% decline year-over-year passenger traffic...
CoStar Group agrees to acquire Ten-X Commercial for $190 million
WASHINGTON: CoStar Group Inc., the leading provider of commercial real estate information, announced plans to acquire Ten-X for $190 million in cash. Ten-X was launched...
AWS announces major enhancements to Amazon Macie
SEATTLE: Amazon Web Services Inc. (AWS), an Amazon.com company, announced a series of major enhancements to Amazon Macie, delivering important new features, greater availability worldwide,...
X5 becomes first Russian retailer to join UN Global Compact
MOSCOW: X5 Retail Group, a Russian food retailer, announced its accession to the UN Global Compact (UN GC), which is an international business initiative in...
Masroor Mahmud appointed GE’s CEO for Pakistan
LONDON: GE has announced the appointment of Masroor Mahmud as its CEO for Pakistan. He is mandated with driving the company’s growth in the country...
Covid lockdown dampens business optimism in Pakistan: D&B Reports
KARACHI: The findings of the Dun & Bradstreet’s Business Optimism Index (BOI) for the first quarter of 2020 released on Monday shows that enforcement of...
Bahrain Telecom repays its $650 million bond due on 1st May 2020 and $450 million term loan
MANAMA, BAHRAIN: Bahrain Telecommunication Company (Batelco) has repaid in full US$ 473 million of the outstanding senior unsecured bond issued by a subsidiary company and...
Nabil Habayeb named Senior VP of GE and President & CEO of Global Growth Organization
DUBAI: Nabil Habayeb, GE’s President and CEO for the Middle East, North Africa and Turkey, has been named Senior Vice President, GE, and President &...