Nestle in talks with Abu Dhabi Investment Authority, EQT over $10 billion sale of skincare unit

Nestle SA has entered exclusive talks to sell its skincare business to a group led by EQT Partners for 10.2 billion Swiss francs ($10.1 billion) in what would be one of the biggest private-equity deals this year. The discussions with the consortium, which is co-led by the Abu Dhabi Investment Authority, are moving ahead as […]

Project awards across GCC decline in Q1 2019

Dubai: Project awards across the GCC declined in the first quarter of 2019 according to data from Meed Projects and estimates by the Economics Team at Abu Dhabi Commercial Bank. Data showed total GCC project awards remained relatively soft in the first quarter of 2019, moderating by 7.5 per cent and 7.8 per cent on […]

Tesla puts out a software upgrade after fire incidents

Melbourne: Tesla Inc. is rolling out a software update for two of its electric vehicles, including the flagship Model S, to beef up battery safety as part of a probe into a vehicle fire in Hong Kong. The over-the-air updates will revise the charge and thermal-management settings for the Model S and Model X, Tesla […]