Bloomberg Billionaire money manager Jeffrey Gundlach said his strongest market conviction is that the still-resilient dollar will weaken. The greenback has largely defied expectations for its demise, with the Bloomberg Dollar Spot Index ending last year less than 1% lower as foreign-exchange volatility dwindled. But the DoubleLine Capital chief executive officer said growing US government and trade deficits, a steepening ...

Bloomberg Bitcoin climbed to the highest since November after breaching the $8,000 price level. Concerns about an escalation in the conflict between the US and Iran are seen as contributing to the rally in Bitcoin, which is not managed by a government. “Bitcoin and gold are well supported due to rising tensions between the US and Iran,” said Emmanuel Goh, ...

Abu Dhabi / WAM Masdar City, Abu Dhabi’s flagship innovative and sustainable urban development, has officially broken the Guinness World Record for the world’s largest mosaic made from recycled materials. The mosaic, which measures 1,015 square metres – around the size of two basketball courts – took one month to assemble and contains almost 90,500 recycled items, including plastic bottles, ...

ABU DHABI The international media followed with great interest the resolution of the UAE cabinet that approved the multi-entry tourist visa for UAE for a period of five years for all nationalities, which will have a significant impact regionally and globally in this important time. The Resolution delivers many promising messages to the UAE community and the whole world, the ...

ABU DHABI / WAM In line with its mission to promote sustainability, innovation and new technologies, the Abu Dhabi National Exhibitions Company (Adnec), invested in autonomous cleaning robots, AvidBot, demonstrating an innovative approach to the Adnec’s continuous commitment to moving forward in a sustainable and eco-friendly manner. Using less water to clean floors, the robots can discreetly and efficiently ensure ...

Dubai / Emirates Business Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, announced a significant increase in the online transactions and recorded over 500,000 e-transactions in 2019, representing a 15% increase year over year, in using the e-payment channels provided to over 100,000 clients either through the company’s system or its strategic partners such as ...

ABU DHABI / WAM The first edition of Hay Festival Abu Dhabi to be held from February 25-28, supported by the UAE’s Ministry of Tolerance, will feature a range of award-winning writers, journalists, historians, filmmakers and artists in an international programme spanning nearly 100 events over four days. The festival spotlights the latest ideas in the arts, sciences and current ...

ABU DHABI / WAM The hospitality sector in Abu Dhabi reported impressive growth across all major KPIs during the last quarter of 2019, revealed the Department of Culture and Tourism – Abu Dhabi. The figures were presented during DCT Abu Dhabi’s regular industry development meeting which sees key representatives from Abu Dhabi’s hotels and industry partners highlighting the latest trends ...

Bloomberg Europe’s manufacturers headed into the new year on a downbeat note, with expectations for both export orders and employment weakening at the end of a rough 2019. The latest sentiment figures from the European Commission came just hours after Germany reported an unexpected drop in manufacturing orders. That’s a volatile figure, but it adds to signs that Europe’s largest ...

Bloomberg New data shows president Donald Trump may be poised to deliver on one of his biggest economic promises: Reducing the annual US trade deficit with China and the world. Scratch the surface, though, and that accomplishment comes with plenty of caveats attached and even what some economists see as worrying signs for the US economy. November trade data released ...