News

  Bloomberg Swiss watch exports had a record year amid booming demand in the US, which overtook China to become the industry’s top market for the first time in more than a decade. Shipments rise 31% to 22.3 billion francs ($24.1 billion) last year, the Federation of the Swiss Watch Industry said. The industry has recovered from a 22% decline ...

  Bloomberg Business closures in the UK jumped by 14% from a year ago in the fourth quarter as the coronavirus pandemic took a brutal toll. Almost every industrial group saw the number of closures rise, with the transport and storage sector posting the largest increase, the Office for National Statistics said. Only finance and insurance bucked the trend. Meanwhile, ...

  Bloomberg Donald Trump is planning a significant expansion of his Trump National Doral Miami resort, which is located in one of hottest real estate markets in the US. The former president said that he plans to apply to create 2,300 luxury homes as well as retail and commercial space in the first phase of construction at Trump National Doral. ...

  Bloomberg France’s economy grew more than anticipated at the end of last year, overcoming supply shortages and Covid-related disruptions to give President Emmanuel Macron a lift ahead of April’s election. Rising consumer spending and investment in the euro area’s second-largest economy powered a 0.7% increase in gross domestic product in the fourth quarter. That was above the 0.5% expansion ...

  ABU DHABI / WAM The Vatican has stressed that the UAE is a leading model of global human solidarity, and its humanitarian initiatives go beyond the limits of geography and encourage pioneering examples that promote peaceful coexistence, tolerance and peace in the whole world. This was stated during a phone call between HH Sheikh Abdullah bin Zayed Al Nahyan, ...

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has received a message from President Kais Saied of Tunisia, on promoting relations between the two countries. The message was delivered to Khalifa Shaheen Al Marar, Minister of State, as he welcomed Mu’izz ...

  ABU DHABI / WAM First Abu Dhabi Bank (FAB) reported a net profit of AED12.5 billion, compared to AED10.6 billion in 2020, marking a 19 percent increase year-on-year for the full year ended December 31, 2021. Group revenue was up 17% supported by solid trading performance and growth in fee-generating business, helping to offset headwinds from low-interest rates. Operating ...

  Abu Dhabi / WAM Taweelah Reverse Osmosis (RO), the world’s largest RO water desalination plant, will begin early commercial operations in the first quarter of 2022, by providing 100 million gallons per day (MGD), said Othman Al Ali, Chief Executive Officer of the Emirates Water and Electricity Company (Ewec). In a statement to the Emirates News Agency (WAM), Othman ...

  Bloomberg Tata Sons Pvt formally took charge of debt-laden Air India Ltd., ending years of failed attempts to sell the money-losing airline that has been kept afloat with billions of dollars of taxpayer money. “It is indeed noteworthy that the disinvestment process of @airindiain has been brought to a successful conclusion in a time-bound manner,” aviation minister Jyotiraditya Scindia ...

Abu Dhabi / WAM The National Marine Dredging Company (NMDC) achieved record profits in 2021, totalling AED1 billion, eight times the previous figure. This achievement further enhances the company’s global leadership among major international companies in the engineering, supply, and marine drilling sectors. In 2021, the company completed 72 projects and won another 17 projects in the UAE and worldwide. ...