News

DUBAI / WAM Dubai Electricity and Water Authority (Dewa) said that the 23rd Water, Energy, Technology, and Environment Exhibition (Wetex) and Dubai Solar Show (DSS) will host 10 country pavilions: Italy, Switzerland, Germany, South Korea, Poland, Ireland, Belgium, Chile, Saudi Arabia and Egypt. This year’s exhibition covers over 29,200 square metres. More than 1,200 companies from 55 countries and 61 ...

Abu Dhabi / WAM Etihad Rail, the developer and operator of the UAE National Rail Network, has announced signing a strategic partnership with Herrenknecht, one of the oldest and largest companies specialised in tunnelling solutions, to develop new tunnel design and construction technologies. The agreement, which took place on the sideline of Expo 2020 Dubai, was signed by Shadi Malak, ...

Bloomberg The US trade deficit widened to a record in August, reflecting a pickup in the value of imports of consumer goods and industrial supplies. The gap in trade of goods and services increased 4.2% to $73.3 billion, from a revised $70.3 billion in July, according to Commerce Department data. The median estimate in a Bloomberg survey of economists was ...

Bloomberg Canada’s trade surplus with the rest of the world expanded significantly in August on larger energy exports. The country’s merchandise trade surplus was C$1.94 billion ($1.5 billion) from a revised C$736 million surplus in July, Statistics Canada reported in Ottawa. Economists were expecting a surplus of C$430 million, according to the median estimate in a Bloomberg survey. August was ...

Bloomberg Telefonica SA is considering options for its Spanish fiber network, including a stake sale, according to people familiar with the matter. The Spanish telecommunications company has spoken with potential advisers about a carve-out of the unit ahead of a possible deal to bring in new investors, the people said, asking not to be identified discussing confidential information. Any transaction ...

Bloomberg Prime Minister Boris Johnson sought to play down a supply chain crisis that’s seen fuel shortages across the country and farm animals threatened with destruction, calling it a “turning point” for the UK economy as it emerges from the pandemic and after leaving the European Union. In interviews, Johnson pushed his relentlessly positive message that the country will benefit ...

Bloomberg Facebook Inc Chief Executive Officer (CEO) Mark Zuckerberg addressed a series of negative stories about the company for the first time by saying accusations that it puts profit over user safety are “just not true.” “It’s difficult to see coverage that misrepresents our work and our motives. At the most basic level, I think most of us just don’t ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) and OCI backed fertiliser partnership, Fertiglobe, on Tuesday announced its intention to float a 13.8 percent stake on the Abu Dhabi Securities Exchange (ADX) through an initial public offering (IPO). This offering is open to UAE citizens and residents, as well as domestic and international institutional investors. The offer ...

ABU DHABI / WAM HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Tuesday called His Majesty Sultan Haitham bin Tariq Al Said of Oman to check on the situation in the Sultanate in light of the tropical cyclone Shaheen that the country has been going through ...

DUBAI / WAM Emirates NBD has signed a $750 million 5-year Dual Tranche Financing Facility with Emirates. The landmark transaction remains competitively priced and marks a first for Emirates Airline as a sales-receivable backed financing structure, aimed to diversify their liquidity pool. Emirates NBD, one of the leading banking groups in the Menat (Middle East, North Africa and Turkey) region, ...