News

Bloomberg General Motors Co and the United Auto Workers (UAW) moved closer to a deal that would end the strike that’s divided them for almost three weeks. The automaker and union have agreed on most of the key issues, but two main sticking points remain. They are boosting employee pension plans and shortening the length of time required for entry-level ...

Bloomberg President Donald Trump lauded a tight labour market as the unemployment rate hit a 50-year low. He didn’t mention job losses appearing in manufacturing, a key industry for his base of supporters. Total payrolls at factories contracted by about 2,000 in September, when economists had expected a 3,000 gain. The data was released as part of the monthly jobs ...

Bloomberg Google Chief Executive Officer Sundar Pichai announced that the internet-search giant is signing on to presidential daughter and senior adviser Ivanka Trump’s pledge to train American workers. At an event in Dallas, Pichai said Google planned to provide training for 250,000 workers over the next year and provide a $3.5 million education grant. The Alphabet Inc unit will offer ...

Bloomberg The 2020 Chevrolet Corvette Convertible, which debuted at the Kennedy Space Center in Florida, is the first Vette in history to have a hard, retractable roof, rather than one made of canvas. The hardtop on the new mid-engine Corvette Stingray Convertible folds seamlessly into the body, maintaining the fighter jet-inspired lines of the coupe version, providing a quieter cabin, ...

ABU DHABI / WAM An international delegation is visiting the UAE to learn about the country’s experience in organising the 2019 Federal National Council (FNC), elections and implementing a state-of-the-art electronic voting system that has been in use since the first cycle of the elections. The National Election Committee (NEC), has organised the 2019 FNC Elections Visit Programme which includes ...

Dubai Dubai recorded a non-oil foreign trade of AED 676 billion in the first half of 2019, an increase of 5% year-on-year from AED 644 billion in the corresponding half last year. The first-half figures, which represent a staggering growth of 87% from 2009, reflect the ability of the emirate’s trade sector to raise its strength and competitiveness despite a ...

Abu Dhabi / WAM The Sheikh Zayed Housing Programme has approved 522 housing assistance applications for Emirati citizens valued at AED410 million. They range from housing loans and grants to government housing. This follows the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and the follow-up of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President ...

Bloomberg PayPal Holdings Inc. pulled out of the Libra Association, a blow to Facebook Inc.’s efforts to develop a digital currency. “PayPal has made the decision to forgo further participation in the Libra Association at this time and to continue to focus on advancing our existing mission and business priorities as we strive to democratise access to financial services for ...

Dubai / Emirates Business The worlds’ most global and disruptive technology events, Gitex Technology Week and Gitex Future Stars, will bring together world-class industry innovators, government leaders, technology creators and forward thinkers begin on October 6, until October 10 at Dubai World Trade Centre. With a spotlight on next-generation technology and innovations that will evolve promising startups into transformative enterprises, ...

Bloomberg Oil registered its biggest weekly decline since July as a streak of disappointing economic data compounded fears about a global recession. The 0.7% rise in New York-traded futures wasn’t enough to correct a 5.5% drop for the week. Rising US payrolls and the lowest unemployment rate in five decades undercut prospects of interest-rate cuts by the Federal Reserve. “The ...