News

Bloomberg WeWork named a new head of its Japanese operations, replacing a company veteran with close ties to former Chief Executive Officer Adam Neumann. Kazuyuki Sasaki, the former managing director of WeWork Japan, has been named its new CEO, the company said in a statement on Wednesday. Sasaki replaces Chris Hill, who has headed Japan operations since their start in ...

Bloomberg Onions in India are once more at the epicenter of a major controversy, pitting government officials who want lower prices against farmers that need extra income. Prices of the vegetable, as ubiquitous as spices in Indian cooking, surged more than 200 percent in September from previous months after flooding from heavy monsoon rains damaged crops and reduced supplies. That’s ...

Bloomberg Lendlease Global Commercial REIT’s stellar IPO debut is yet another testament to the hunger for yield among Asian investors. The real estate investment trust, part of Australia’s Lendlease Group, started trading on the Singapore bourse on Wednesday, surging 6.3 percent at the open from its offer price. This is the biggest jump among the city-state’s REITs in the past ...

NEW YORK / WAM The UAE Government, in partnership with the Organisation for Economic Cooperation and Development (OECD), and the United Nations Development Programme (UNDP), launched the Global Hub on Governance for Sustainable Development Goals (SDGs). The announcement was made on the sidelines of the United Nations General Assembly (UNGA 74). The high-level side event was hosted by the governments of ...

Bloomberg The World Trade Organisation (WTO) cut its global trade growth forecast for this year to the weakest level in a decade, warning that further rounds of tariffs in an environment of heightened uncertainty could spark a “destructive cycle of recrimination.” The volume of merchandise trade will increase by 1.2% this year and 2.7% next year, after a 3% advance ...

Bloomberg The Dubai Gold and Commodities Exchange (DGCX), continued its record-breaking performance this year, registering its best quarter since inception with over 7.98 million contracts traded in third quarter of 2019, with over 2.37mn contracts traded in September, valued at $41 billion. The Exchange also recorded a monthly Average Open Interest (AOI), of 410,847 contracts in September, its highest AOI since ...

DUBAI / WAM Expo 2020 Dubai named Al Ain Farms as Official Dairy Provider of the upcoming World Expo. Founded in 1981, Al Ain Farms is the UAE’s largest integrated dairy company with highly automated feeding and cooling systems for its cows, camels and chickens, as well as cutting-edge technology for feeding, milking and processing. It was established under the ...

Bloomberg Oil rose after its biggest quarterly slump of the year, yet ongoing concerns that a faltering global economy will erode demand continued to weigh on the market. Futures increased 1.1% in New York, having tumbled 7.5% in the past three months as Saudi Arabia fully restored its output following devastating attacks that had temporarily halved its production. Attention is ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved the new vision of Dubai Culture, which outlines a comprehensive roadmap to consolidate Dubai’s stature as a global destination for culture, innovation and talent. His Highness Sheikh Mohammed approved the new vision during a visit to ...

Abu Dhabi / WAM Early voting for the Federal National Council (FNC), elections kicked off in nine polling stations across the UAE on Tuesday morning, and will run until October 3. Official voting will begin on election day on October 5, at 39 polling stations nationwide. Voters can cast their ballots at polling stations, equipped with electronic voting systems, in ...