News

Bloomberg Ivi.ru, Russia’s largest streaming platform, hired Goldman Sachs Group Inc to study options to fund the firm’s growth, according to the firm’s chief executive officer. “These could be private placement, strategic alliances or an IPO,” Oleg Tumanov, Ivi’s founder and CEO, said in an interview in Moscow. “We need funding to produce our own content and keep growing faster ...

Bloomberg Audi halted output of its E-Tron SUV to resolve production issues including battery-supply bottlenecks as it prepares to flank the model with a sportier variant, underscoring the struggles traditional automakers face to boost electric cars and challenge Tesla Inc. Manufacturing at Audi’s factory in Brussels stopped and the plant will remain idle until Tuesday, a company spokeswoman said. Audi ...

Bloomberg France warned British Prime Minister Boris Johnson not to use “blackmail” to secure a trade deal as European Union member states prepare to finalise their negotiating position, allowing talks between the two sides to begin next week. Ministers from the bloc’s 27 national governments will meet on Tuesday in Brussels, where they are expected to sign off on the ...

ABU DHABI / WAM The UAE’s overall real gross domestic product (GDP), is estimated to have grown by 2.9 percent in 2019, the central bank of the UAE revealed. According to the central bank’s quarterly review report’ for Q4 of 2019, this rise in GDP was driven by the growth in the non-hydrocarbon sector, estimated at 1.1 percent, as well ...

DUBAI / WAM The United Arab Emirates and the Kingdom of Saudi Arabia strengthen their economic partnership to enhance the trade, diversify and create opportunities for the businesses and people in both the countries. Etihad Credit Insurance (ECI), the UAE Federal export credit company has partnered with the Saudi Fund for Development (SFD), for financing and providing credit insurance to ...

Bloomberg The coronavirus outbreak presents another reason for nations with fiscal surpluses to boost their spending and support the global economy, the head of the Organisation for Economic Cooperation and Development (OECD) said. “It’s a call to arms,” Angel Gurria, secretary general of the OECD, said in an interview with Bloomberg TV in Saudi Arabia. “Look at what’s going on. ...

ABU DHABI / WAM The fourth edition of the Umex and SimTEX exhibition has kicked-off on Sunday, under the theme ‘Manned-Unmanned Teaming in the Age of Smart Systems’, at the Abu Dhabi National Exhibition Centre. Held under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE ...

ABU DHABI / WAM Adasi, the regional leader in autonomous systems and services, on Sunday launched the first UAE-made high-performance “Garmousha” vertical take-off and landing drone, in an agreement with the General Headquarters of the UAE Armed Forces. His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, unveiled the new unmanned system at ...

Abu Dhabi / Emirates Business Ahead of its participation at the upcoming MRO Middle East event at the Dubai World Trade Centre, Etihad Engineering announced its performance indicators for 2019 revealing that the leading maintenance, repair and overhaul (MRO) provider has signed off yet another year with a very positive record and continues to demonstrate strong potential for sustained growth ...

SHARJAH / WAM During the 44th General Assembly of the Sharjah Islamic Bank (SIB), 10 percent of the profits were distributed to shareholders, including five percent in cash and five percent of bonus shares, approved after the bank reported a net profit of AED545.5 million last year, an increase of seven percent compared to 2018, when profits reached AED510.4 million. ...