News

Bloomberg Elon Musk’s fortune swelled by $2.3 billion in the span of an hour after shares of Tesla Inc soared in extended trading on stronger-than-expected fourth-quarter earnings and an accelerated timetable for the new Model Y crossover SUV. The electric-vehicle maker’s stock, which closed at $580.99, surged 12% to $649 at New York, boosting the chief executive officer’s net worth ...

Bloomberg In July of 2017, International Business Machines Corp executive Arvind Krishna walked into a routine meeting with senior leaders and delivered a surprise pitch that changed the course of the iconic 108-year-old company’s future. For months Krishna, the head of IBM’s cloud computing division, had been thinking about a way to connect clients’ most important data, which was often ...

Bloomberg The Arab League should adopt a united stance towards US President Donald Trump’s Mideast plan, which is unlikely to achieve peace and stability for Palestine and Israel, its Secretary General Ahmed Aboul Gheit said. “Today’s meeting is a message that the Palestinians are not alone,” Gheit said on Saturday at the start of an emergency meeting of Arab foreign ...

Bloomberg Indian Prime Minister Narendra Modi’s government plans to sell an unprecedented amount of bonds for a second straight year as a slowing economy forces it to sacrifice fiscal discipline. The administration plans to borrow 7.8 trillion rupees ($109 billion) in the year starting from April 1, Finance Minister Nirmala Sitharaman said in her budget speech on Saturday. That’s in ...

Bloomberg Chinese regulators unveiled a slew of measures to ensure stability of its $45 trillion financial system as the nation stepped up the fight against the spreading virus. The China Banking and Insurance Regulatory Commission will “suitably extend grace period” for firms that have difficulty meeting end-2020 deadline to comply with new asset management rules, CBIRC vice chairman Cao Yu ...

ABU DHABI / WAM Strata Manufacturing, Strata, the advanced composite aero structures manufacturing facility wholly-owned by Mubadala Investment Company PJSC, is celebrating the delivery of its first shipset of Flap Track Fairings for the PC-24, the twin-engine Super Versatile Jet produced by Pilatus Aircraft Ltd of Switzerland. The delivery of the first shipset of Flap Track Fairings comes within eight ...

DUBAI / Emirates Business Leading trade enabler, DP World, UAE Region and Zhejiang Zhidi Holding Ltd. (ZZH or Zhidi Company) of China will jointly explore the establishment of a sophisticated next-generation logistics hub to meet the rising demand for conventional and e-commerce services in Dubai. The memorandum of understanding (MoU) signed between the two sides states that the intent is ...

SHARJAH / WAM Organised by the Environment and Protected Areas Authority (EPAA), the 21st Sharjah International Conservation Forum for Arabian Biodiversity (SICFAB), will begin February 3 – at Desert Park in Sharjah. The four-day forum, which will be held until February 6, will include discussions of several important issues related to biodiversity such as marine and coastal management of species ...

DUBAI / Emirates Business Dubai Corporation for Tourism and Commerce Marketing (DCTCM), part of Dubai’s Department of Tourism & Commerce Marketing (Dubai Tourism), signed a memorandum of understanding (MoU) with the Promotion and Real Estate Investment Management Sector of Dubai Land Department (DLD), as part of a strategic alliance for enhancing cooperation and mutual facilitation of their business ecosystems. Under ...

DUBAI / WAM Mattar Mohammed Al Tayer, Director-General and Chairman of the Board of Executive Directors of Roads and Transport Authority (RTA) announced that the construction progress on the bridges leading to the entrance of Deira Islands has reached 75 percent. Works cover the construction of three bridges of six lanes in each direction linked with the bridge crossing over ...