News

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of th UAE and Ruler of Dubai, said the UAE Armed Forces will continue their significant contributions to the nation’s track record of achievements over the coming 50 years and beyond, just as they did over the past five decades. Noting that economic ...

  Abu Dhabi / Gulf Time Q Holding, a leading investment company in the United Arab Emirates, announced on Thursday its acquisition of Reem Investments Company in exchange for shares to be issued in Q Holding, in efforts to grow its portfolio of investment assets for a total amount of AED 5,942,067,075. HE Abdulla Mohammed Butti Al Hamed, Chairman of ...

  DUBAI / Gulf Time Emirates revealed a new custom A380 livery dedicated to Dubai’s newest architectural icon and centre for pioneering concepts and ideas, the Museum of the Future. The first Emirates A380 (A6-EVK) to sport this exciting new livery, takes flight tomorrow to Los Angeles. As its nine other aircraft siblings roll out of the dedicated Aircraft Appearance ...

  DUBAI / WAM Tourism professionals from around the world will return to Dubai next week when Arabian Travel Market, the leading event for the travel industry in the Middle East, returns to the Dubai World Trade Centre on Monday, May 9. The event will welcome more than 20,000 visitors and over 1,500 exhibiting companies during the four-day tourism showcase, ...

  Bloomberg The US trade deficit widened to a record in March, reflecting a surge in imports as companies relied on foreign producers to meet solid domestic demand. The gap in goods and services trade grew 22.3% to $109.8 billion, Commerce Department data showed. The median estimate in a Bloomberg survey of economists called for a $107.1 billion deficit. The ...

  Bloomberg German factory orders fall more than anticipated after Russia’s invasion of Ukraine darkened the prospects for the economy by adding to inflation pressure and disrupting global supply chains. Demand plunged 4.7% in March from the previous month, driven by a decline in orders from broad. That’s worse than all but one forecast in a survey of economists by ...

  Bloomberg Commercial real estate lending bounced back to pre-pandemic levels in 2021, ending more than a year of Covid-driven turbulence. New lending volume rose 48% year-on-year to 49.8 billion pounds ($62 billion), according to a survey of 76 major UK lenders by Bayes Business School. The data also shows that 2021 was the strongest year in the market since ...

  Bloomberg Telecom Italia SpA is near to signing a memorandum of understanding with state lender Cassa Depositi e Prestiti SpA — the carrier’s second-largest investor — for a national single-network project that would merge the company’s landline grid with the one owned by smaller rival Open Fiber. “I’m confident we can reach an agreement on the single network in ...

  Bloomberg Facebook parent company Meta Platforms Inc. is slowing or pausing hiring for some mid- to senior-level positions, part of a broader plan to cut costs and cope with the challenges facing the social media giant. “We regularly re-evaluate our talent pipeline according to our business needs and in light of the expense guidance given for this earnings period, ...

  Bloomberg Mexico’s government has struck a deal with leading companies to temporarily cap prices on 24 food and other basic products in an effort to temper inflation that has surged to two-decade highs. The plan, which was first reported by Bloomberg News, will initially last six months and includes the reduction of tariffs of some food products to zero ...