Bloomberg Berkshire Hathaway Inc’s new wager on furniture retailer RH has Warren Buffett’s company in a place it rarely finds itself: invested in a heavily shorted stock. RH is the most popular short in the home-furnishing retail sector with 37% of the shares available to trade on loan to bears, according to data from financial analytics firm S3 Partners. The ...

Bloomberg Twenty-time Grand Slam tennis champion Roger Federer has bought a stake in Swiss running shoe manufacturer On, a move prompted by the end of his contract with Nike Inc and as he plans for life after professional tennis, Swiss newspaper NZZ am Sonntag reported. “I am excited to be able to work with a young Swiss company that’s on ...

Washington / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation concluded his visit to Washington, DC after meeting with senior US government officials. Sheikh Abdullah met US Secretary of State Mike Pompeo. They discussed UAE-US cooperation to create mutual prosperity and ensure security in the Middle East and around the world. “The ...

Abu Dhabi / Emirates Business The Emirates Water and Electricity Company (Ewec), a subsidiary of Abu Dhabi Power Corporation (ADPower) and a leading company in the integrated coordination of planning, purchasing and supply of water and electricity in the Emirate of Abu Dhabi and beyond, has received bids for its 2 GW Solar Photovoltaic (PV) Independent Power Producer (IPP) project, ...

Dubai / WAM Domestic workers aged over 60 years shall be allowed to get their employment contracts renewed under three conditions, including medical fitness, payment of medical coverage and an official consent by competent departments allowing them to continue their residency visa, according to the UAE Ministry of Human Resources and Emiratisation. According to the ministry’s announcement, the auxiliary worker ...

STOCKHOLM / WAM An agreement signed by the UAE and Sweden for startups, innovation and entrepreneurship cooperation will take the two countries’ partnerships to a higher level, Sultan bin Saeed Al Mansouri, Minister of Economy. The MoU was signed by the Ministry of Economy and Swedish Ministry of Enterprise and Innovation during a visit by Al Mansouri and a top-level ...

Bloomberg The European Union (EU) is planning a 3.9 billion fund that will invest in early stage technology in an effort to increase the pipeline of innovations that might someday take on giants in the US and China. Traditional venture capital firms typically don’t fund “the famous innovation valley of death,” where science has produced a breakthrough, but a costly ...

ABU DHABI / WAM The Abu Dhabi Securities Exchange (ADX) held two sustai- -nability reporting workshops, titled ‘Enhancing the efforts of listed companies to disclose sustainability reports.” The initiative is one of the pivotal axles of ADX’s broader programme to advance international best practices for sustainability across the Emirate, in line with the issuance of the Environmental, Social, and Governance ...

Abu Dhabi / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces will be chairing the third UAE Government annual meetings in Abu Dhabi, which will commence on ...

New York / WAM A top UN official has commended funding for the Humanitarian Response Plan in Yemen by “the Kingdom of Saudi Arabia, the United Arab Emirates, Kuwait, the United States and others.” “New funding since September from the Kingdom of Saudi Arabia, the United Arab Emirates, Kuwait, the United States and others has enabled agencies to re-open suspended ...