News

Bloomberg Volkswagen AG’s plan to review options for its Lamborghini supercar division marks a further step in Chief Executive Officer Herbert Diess’s campaign to transform the world’s biggest automaker and more than double its market value. The German manufacturer is weighing a potential sale or stock listing for the Italian brand, according to people familiar with the matter, as Diess ...

Bloomberg British financial advisers and pension managers face jail and increased fines under proposed legislation announced during the Queen’s Speech to mark the new parliamentary term. Penalties for the most serious offenses will carry a maximum sentence of seven years and a $1.26 million fine, according to a briefing note that accompanied a speech read by the Queen to UK ...

CAIRO / WAM The United Arab Emirates has called upon Turkey and all other foreign forces to withdraw from Syria and to seek a political solution. The UAE also stated that the minimum action incumbent upon Arab countries is the adoption of a firm response to aggression against any Arab country, which is seen as aggression against the national security ...

ABU DHABI / WAM Abdullah Al Saleh, Under-Secretary of the Ministry of Economy for Foreign Trade Affairs, said that the value of non-oil trade between the UAE and Russia over the past five years amounted to $14.1 billion (AED 51.79 billion), while last year’s non-oil trade totalled $3.4 billion, compared to $2.5 billion in 2017, a growth of 36 percent. ...

ABU DHABI / WAM Russian President Vladimir Putin sees the UAE as one of Russia’s very “close and promising partners,” saying that the partnership is “vigorously developing in all areas.” Putin will pay a historic state visit to the UAE on Tuesday. His last visit was in 2007. “It is safe to say that the United Arab Emirates greatly contribute ...

Bloomberg President Donald Trump said the partial US-China trade deal may lead to as much as $20 billion in sales of Boeing Co. airplanes, in addition to spurring billions of dollars in purchases of agricultural goods. “Other aspects of the deal are also great — technology, financial services, 16-20 Billion in Boeing Planes etc,” Trump tweeted without any specifics about ...

Dubai / WAM Dubai Customs on Sunday launched the World Logistics Passport, as part of the first phase of the Dubai Silk Road strategy, to help boost the role of the Dubai Silk Road and expand demand for Dubai’s products, services and integrated transportation systems. The unique initiative will also further augment the growing role played by Dubai Customs in ...

Abu Dhabi / WAM Obaid Rashid Al Hassan Al Shamsi, Director-General of the National Emergency and Crisis and Disasters Management Authority (NCEMA), stated that the UAE is playing a key role in providing aid and supporting victims of humanitarian crises. In his speech marking the International Day of Disaster Reduction on 13th October, Al Shamsi said that the UAE’s humanitarian ...

Abu Dhabi / WAM The Abu Dhabi Judicial Department (ADJD), launched a platform to issue interactive digital judgments, the first-of-its-kind in the world to use the latest technology in judicial systems, allowing interactive judgments to be issued with special characteristics and advantages that help litigants understand and proceed with judgments, and will be translated into five languages. Yousef Saeed Al-Abri, ...

Dubai / WAM The UAE Cabinet has approved a policy to enhance the country’s position as a global hub for gold and jewelry trade, along with initiatives and tools to support its implementation. The aim of the new policy is to enhance the competitiveness of the UAE in the gold markets regionally and globally while maintaining its position on the ...