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Bloomberg Fortress Investment Group is postponing its plan to build a train to Las Vegas from Southern California after failing to sell a record amount of unrated municipal debt to finance the speculative project, showing the limits of investor appetite amid an economic downturn. Since the end of September, Fortress, through its company Brightline Holdings, had been marketing $3.2 billion ...

Bloomberg Brazil’s Pantanal wetlands, a fragile cradle of endangered species, burned at the fastest rate for the month of October since record keeping started in 1998, further damaging the country’s environmental credentials. At least 2,846 fire spots have been registered this month in the biome, surpassing a previous 2002 record, according to data from Brazil’s Spacial Research Institute, known as ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said the UAE is committed to implementing innovative projects that optimise use of resources and solve critical challenges as part of the country’s strategy to ensure environmental sustainability. A key element in the UAE’s development model, environmental sustainability ...

Dubai / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, said that Dubai implements projects as part of an ambitious development strategy that places the interests of citizens and the comfort and happiness of residents and visitors at the top of its priorities. This is evident in the ...

Tokyo / WAM Japan imported from the United Arab Emirates 20.173 million barrels of crude oil in September, data released by the Agency of Energy and Natural Resource in Tokyo, showed. This accounts for 31.4% of Japan’s total crude imports, the agency that belongs to the Ministry of Economy, Trade and Industry, said. Saudi Arabia provided 25.721 million barrels, or ...

ABU DHABI / WAM Etihad Airways, the national airline of the UAE celebrated the 15th anniversary of its first service between Abu Dhabi and Brussels. Since launching the flights on October 31, 2005, Etihad has carried almost 2 million passengers between the two capitals, building on strong demand for point-to-point business and leisure travel between Abu Dhabi and Brussels. The ...

Dubai / WAM Dubai Customs has been named the “Best PMO in the World 2020” at the PMO Global Awards organised by the PMO Global Alliance, the leading global community of project management professionals. Dubai Customs outclassed government departments and private companies worldwide to win the prestigious global honour. With 125 projects worth AED350 million implemented between 2007 and 2019, ...

Bloomberg Democrats are on the brink of capturing the Senate to give the party full control of Congress, though the final outcome depends heavily on the strength of presidential nominee Joe Biden’s performance in Tuesday’s election. Polls and independent analysts indicate Democrats have a solid chance at winning at least a narrow Senate majority, with Republicans on the defensive in ...

Bloomberg The furlough program deployed by UK Chancellor of the Exchequer Rishi Sunak to avert mass job losses comes to an end as a resurgence of coronavirus leaves the economy vulnerable to another shock. At their height, government wage subsidies protected almost 9 million jobs and the cost has been vast — over 40 billion pounds ($52 billion) at the ...

Bloomberg Apple Inc. was told to pay VirnetX Holding Corp. $502.8 million, the latest jury verdict in a decade-long saga over patents for secure communications. The jury in Tyler, Texas, reached its verdict in about 90 minutes. It was asked to decide only how much Apple owes VirnetX in royalties for VPN on Demand, a feature that allows users access ...