Blog List Layout

ABU DHABI / WAM Emirates Steel, a subsidiary of the General Holding Corporation (Senaat), has signed a strategic agreement with Abu Dhabi Marine Services (Safeen), a subsidiary of Abu Dhabi Ports, valued at AED1 billion ($270mn). The agreement was signed by the Chief Executive Officer of Emirates Steel, Saeed Ghumran Al Remeithi, and Captain Mohamed Juma Al Shamisi, Chief Executive ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, visited the 44th Arab Health Exhibition, which is being held at the Dubai World Trade Centre (DWTC) on Wednesday. His Highness Sheikh Mohammed bin Rashid toured the four-day exhibition, which is hosting many major international companies in the healthcare ...

Bloomberg A month after President Donald Trump said he’d pull US forces from Syria, a critical global security question is unanswered: What to do with hundreds of IS fighters and their families —including Europeans and Americans—held by Kurdish forces in makeshift prisons? US officials estimate there are 800 prisoners who need to be dealt with at a series of Kurdish-run ...

SHARJAH / WAM Sharjah Islamic Bank (SIB), achieved good results for the full year of 2018 and declared a net profit of AED510.4 million compared to AED477.7 million reported in 2017, showing an increase of 7 percent. An 8 percent cash dividend is proposed for the shareholders. These results reflect the success of the bank’s strategy to achieve steady and ...

Dubai / WAM Adnoc Distribution, the UAE’s largest fuel and convenience retailer, on Wednesday celebrated the opening of its first three service stations in the Emirate of Dubai, located in Dubai Investment Park (DIP), Umm Eselay and Al Qusais. Adnoc Distribution operates in all seven Emirates. An opening celebration, held at the DIP station, was attended by Adnoc Distribution Acting ...

Bloomberg Chinese executives are sounding warning bells over the world’s second-largest economy. At least 20 companies, including China Life Insurance Co. and Chongqing Changan Automobile Co., told investors that full-year earnings would fall well short of expectations. Reasons they cited included the country’s economic slowdown, as well as recent changes to accounting rules and the equity market’s $2.3 trillion rout ...

Bloomberg India’s bid to protect its solar-equipment makers by imposing a safeguard duty on cheap, Chinese imports has failed, according to domestic manufacturers, who are campaigning for tougher measures. The country last year imposed a 25 percent tariff on solar cells and modules imported from China and Malaysia for two years. That has resulted in developers either stalling projects to ...

Bloomberg Euro-area economic confidence extended its worst losing streak in a decade at the start of 2019 as member states faced a variety of domestic frailties and trade uncertainties. The European Commission’s economic sentiment index dropped more than economists forecast in January, reaching the lowest in more than two years. Pessimism spread in industry, services and retail trade, while the ...

Bloomberg UK lenders approved the fewest home loans in eight months in December and demand for unsecured debt remained subdued, Bank of England figures show. The slowdown reflects fears that Britain risks leaving the European Union without a deal, a scenario that could rock the property market. Consumer credit grew at its slowest annual pace in four years. UK mortgage ...

Bloomberg A new privacy bill proposed by Senator Marco Rubio, which would override more restrictive state laws, is winning support from a Washington-based technology trade group that counts Alphabet Inc.’s Google, Facebook Inc. and eBay Inc. as members. The Florida Republican’s legislation would impose a national privacy standard and supersede tougher data-protection regulations that will take effect in California in ...