News

Bloomberg WeWork has backed out of an ambitious project to outfit a 36-story tower in Seattle with co-working space and its co-living offshoot, as the company looks to shore up its finances. WeWork won’t lease the building at 3rd Ave and Lenora St from Martin Selig Real Estate, according to a joint statement from the companies. The decision leaves one ...

Bloomberg Apple Inc is planning to bring 5G to the iPhone next fall, more than a year behind some rivals. The company can ill afford to let the timing slip. Apple’s most recent iPhone launch focussed on camera improvements, and there was no mention of 5G, the latest, fastest wireless standard. Meanwhile, at least 20 5G smartphones are being rolled ...

ABU DHABI / WAM The upcoming visit of Russian President Vladimir Putin to the UAE reflects the strong strategic partnership between the two nations and will pave the way for further cooperation in a number of vital sectors, namely in oil and peaceful nuclear energy, said Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry. Speaking to ...

Bloomberg China wants to hold more talks this month to hammer out the details of the “phase one” trade deal touted by Donald Trump before Xi Jinping agrees to sign it, according to people familiar with the matter. Beijing may send a delegation led by Vice Premier Liu He, China’s top negotiator, to finalise a written deal that could be ...

DUBAI / WAM Dubai external trade with Russia has witnessed rapid growth in the past few years, from AED 5.5 billion in 2016 to AED 7.38 billion in 2017 (37%) and in 2018 it made AED 9.21 billion, a 25% increase compared to 2017. The figures show a 67% growth in two years from 2016 to 2018. Trade with Russia ...

ABU DHABI / WAM Banks operating in the UAE increased their investments in bonds since the beginning of 2019 to make for losses caused by a fall in proceeds from their other investment instruments, including loans. The value of investments in bonds by banks during the first eight months of 2019 amounted to AED10.3 billion, which increased their total investments ...

Bloomberg The world loses about $400 billion of food before it even gets delivered to stores, according to the United Nations. Some 14% of all food produced is lost annually, with central and southern Asia, North America and Europe accounting for the biggest shares, the UN’s Food and Agriculture Organisation (FAO) said in a report, citing the latest data as of ...

Bloomberg Oil slid after surging the most in almost a month amid doubts that recent progress in the US-China trade talks will compensate for a worsening global demand outlook. Futures in New York fell as much as 2.6% after gaining 2.2% in the previous session. Despite positive momentum in the trade negotiations, and an array of threats to oil supply ...

Abu Dhabi The visit of Russian President Vladimir Putin to the UAE, his second since 2007, is aimed at deepening bilateral ties and taking them to wider horizons. The timing of the visit indicates the close cooperation and coordination between the two friendly countries as put by Putin, “It is no great secret that we maintain regular contacts with the ...

Abu Dhabi / WAM The “UAE Youth Ambassadors Programme” announced its programme for 2020, which will include a visit to Russia, to mark the visit of Vladimir Putin, President of Russia, to the UAE. The programme is being held under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander ...