Abu Dhabi / Emirates Business Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi) is offering all UAE-based mixed media artists the opportunity to participate in a new exhibition, in March at the Al Qattara Arts Centre in Al Ain. The exhibition, entitled Collage, will showcase a selection of mixed media works, where essentially the artwork can be made …
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SAP raises targets for 2020 with increase in customers
Bloomberg SAP SE raised its targets for 2020 as customers bought its latest suite of applications at a faster pace, and Chief Executive Officer Bill McDermott — a fan of Donald Trump’s “The Art of the Deal,†— said he wouldn’t “lay off the accelerator†on acquisitions, engineering investment or a potential share buyback. The updated outlook, on top …
Read More »French economy accelerates as services outpace manufacturing
Bloomberg Economic momentum in France accelerated to the strongest in more than five years in January, data by IHS Markit show. A Purchasing Managers’ Index for manufacturing and services rose to 53.8 from 53.1 in December, the London-based company said in a statement on Tuesday. That’s above the 53.2 median estimate in a Bloomberg survey and the highest since …
Read More »De Beers gets biggest diamond sale in a year
Bloomberg De Beers had its biggest diamond sale in at least a year as the gem industry restocked after the key holiday period. The company, owned by Anglo American Plc, sold $720 million of diamonds in its first sale of the year, compared with $545 million at last year’s January offering, it said in a statement. The world’s biggest …
Read More »UK offshore wind cheapest future large-scale energy
Bloomberg UK offshore wind power is on target to become the cheapest source of large-scale clean energy, surpassing the government-mandated price target four years early. The levelized cost of energy for offshore wind — a benchmark measuring affordability over the lifetime of generation assets — dropped below 100 pounds a megawatt-hour in 2016, according to a report by UK’s …
Read More »Uber wants court stamp on arbitration win as hint to drivers
Bloomberg Uber Technologies Inc. is asking a California judge to grant a stamp of approval on what it says is the first decision by an arbitrator denying a driver’s bid to be treated as an employee instead of an independent contractor. It could be the first of many such rulings after a federal appeals court’s decision last year that most …
Read More »Rio hastens coal retreat with $2.45 billion sale of mines
Bloomberg Rio Tinto Group agreed to sell its thermal coal assets in Australia’s Hunter Valley for as much as $2.45 billion as the world’s second-biggest mining company accelerates its move away from the fuel. Rio will sell its Coal & Allied Industries Ltd. subsidiary to Yancoal Australia Ltd., controlled by China’s Yanzhou Coal Mining Co., it said in a …
Read More »India’s steel demand revival hinges on roads-to-rail spending
Bloomberg A revival in India’s steel consumption from the weakest estimated growth in at least four years hinges on the government boosting spending on infrastructure, housing and road projects to absorb record output. Finance Minister Arun Jaitley will announce February 1 higher outlays for national highways, rural roads, railways and low-cost housing, Goldman Sachs Group Inc. predicted in a …
Read More »China plans to reduce influence on economic data
Bloomberg China’s central government plans steps that will reduce the influence local governments have on economic statistics, according to a person familiar with the matter. The National Bureau of Statistics will move its teams out of joint offices they share with regional counterparts around the country and shift into separate facilities, said the person, who asked not to be …
Read More »No gold demand recovery in India until 2018
Bloomberg Gold consumption in India won’t return to normal levels until 2018, delaying a forecast recovery from a seven-year low, as a liquidity squeeze tightens spending this year in the world’s largest consumer after China, according to the World Gold Council. This year “has a lot of uncertainties,†P.R. Somasundaram, managing director for the council in India, said by …
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