Tue, Apr 23, 2019 - Page 10 News List

World Business Quick Take

Agencies

INVESTMENTS

China-Japan plan advances

China and Japan made key progress on a program that would allow cross-listing of exchange-traded funds and make it easier for investors to buy shares in each other’s nations. Both sides have sped up market access and bolstered regulatory cooperation since a memorandum of understanding was signed in October last year, China Securities Regulatory Commission Chairman Yi Huiman (易會滿) said in a statement yesterday.

TECHNOLOGY

Dassault eyes US firms

French technology company Dassault Systemes SE is seeking US acquisitions and considering targets including Medidata Solutions Inc, a software company focused on clinical trials, according to people familiar with the matter. Dassault is discussing the potential purchase of Medidata to bolster its life science unit, the people said. Deliberations are preliminary and the French software maker might decide against proceeding with a takeover or opt for a different company, they said. Medidata could also draw interest from other suitors, one of the people said.

MEDICINE

China bolsters penalties

China is intensifying its crackdown on makers of ineffective vaccines by introducing heavier penalties and more stringent regulations. Companies guilty of making or selling counterfeit vaccines can be fined between 15 to 30 times the value of the products involved, China News Service reported, citing the second draft of a new vaccine management law. That compares with a proposed five to 10 times the value of the goods in the first draft in November last year. The penalty would be capped at 30 million yuan (US$4.5 million) for goods valued below 1 million yuan.

AIRLINES

French union mulls strike

Norwegian Air’s largest cabin crew union in France has called for a strike from Wednesday to Friday, seeking higher pay and better working conditions, a union representative said on Saturday. UNAC representative Anastasia Durand told reporters that the union represents 70 percent of the airline’s 158 cabin crew based at Charles de Gaulle airport in Paris, also known as Roissy, from where Norwegian has four or five flights per day. Durand said there had been no formal vote for the strike, but the union had sounded out staff and there was general support for the action.

STOCK MARKETS

Dubai debuts expected

Three companies are preparing initial public offerings on Dubai’s main stock exchange, the bourse said, potentially ending a 17-month drought as it boosts efforts to entice local firms to list domestically rather than abroad. “We are at different stages of discussions with potential issuers, including three companies from the industry, oil and gas services, as well as healthcare sectors,” exchange operator Dubai Financial Market PJSC said in an e-mailed response to questions. The timing of the deals is up to the companies, it said.

RETAIL

Deal to end strikes

Stop & Shop supermarket workers and company officials on Sunday reached a tentative three-year contract agreement that includes wage increases for all associates and maintains health coverage, according to news releases from both parties. The company said the agreement ends employee strikes that started on April 11 at 240 Stop & Shop stores in Massachusetts, Rhode Island and Connecticut.

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