News

Bloomberg International Business Machines (IBM) Corp is planning to cut about 10,000 jobs in Europe in an attempt to lower costs at its slow-growth services unit and prepare the business for a spinoff. The wide-ranging losses will affect about 20% of staff in the region, according to people familiar with the matter. The UK and Germany are set to be ...

Bloomberg Dell Technologies Inc and HP Inc reported quarterly revenue that topped Wall Street estimates, lifted by customer upgrades of personal computers for remote work and school during the pandemic. Dell’s sales climbed 2.8% to $23.5 billion in the period that ended on October 30, the Round Rock, Texas-based company said Tuesday in a statement. Rival HP reported it shipped ...

ABU DHABI / WAM The Ministry of Economy (MoE) announced the development of a strategic plan and initiatives within the framework of its role in supporting the efforts to combat money laundering practices in the country. MoE is the authority entrusted by the UAE Cabinet with the supervision of designated non-financial businesses and professions sector at the national level and ...

Bloomberg Oil reached its highest level since March as the start of the US presidential transition process buoyed broader markets and a string of positive Covid-19 vaccine news continued to support the demand outlook. Futures rose to their highest since March in New York, alongside the back-end of the forward curve strengthening markedly into backwardation. The structures of both WTI ...

ABU DHABI / WAM Abu Dhabi Securities Exchange (ADX) announced on Tuesday that it has signed a Memorandum of Understanding (MoU) with the Sharjah Investment and Development Authority, Shurooq, with aims to foster bilateral cooperation and to provide advanced, innovative services and facilities development to the business community in the UAE. During the signing the ceremony, Mohammed Ali Al Shorafa ...

Abu Dhabi / WAM The UAE has strongly condemned the cowardly attack by the Iranian-backed terrorist Houthi militia on a fuel tank at a petroleum products distribution station in Jeddah, Saudi Arabia. The Ministry of Foreign Affairs and International Cooperation (MoFAIC) renewed its full solidarity with Saudi Arabia regarding these terrorist attacks, and its firm standing with the Kingdom against ...

ABU DHABI / WAM The Mena region’s largest event focused on innovation in financial services, the FinTech Abu Dhabi Festival (FinTech AD), kicked off on Tuesday and will run until November 26. Held under the patronage of HH Sheikh Hazza bin Zayed Al Nahyan, Vice President of the Abu Dhabi Executive Council, and co-hosted by the Central Bank of the ...

ABU DHABI / WAM Etihad Airways, the national airline of the United Arab Emirates, has partnered with information technology company SITA, to trial the use of facial biometrics in order to check in cabin crew at the airlines Crew Briefing Centre at Abu Dhabi International Airport. The trial will use facial recognition technology to identify and authenticate crew members, allowing ...

ABU DHABI / WAM HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, and Ivan Korcok, the Minister of Foreign and European Affairs of the Slovak Republic, have reviewed prospects of advancing cooperation between the two nations. This came as the UAE top diplomat received his Slovak counterpart in the presence of Minister of Defence ...

DUBAI / WAM Etihad Credit Insurance (ECI) the UK Export Finance (UKEF) have announced the signing of a reinsurance agreement to enhance the competitiveness, scale and scope of both countries’ export industry through strategic partnership and cooperation. The agreement, which was signed by Massimo Falcioni, CEO of ECI, and Louis Taylor, CEO of UKEF, aims to provide a robust turnkey ...