News

Bloomberg The US and Japan agreed in principle on a trade deal that would slash Tokyo’s tariffs on American beef, and other agricultural products, while delaying for now the threat of additional levies on Japanese auto exports to the US. US President Donald Trump and Japanese Prime Minister Shinzo Abe announced the agreement on Sunday on the sidelines of the ...

Bloomberg In its search for a potential factory location in Europe, Tesla Inc. examined areas in Germany’s state of North Rhine-Westphalia, Rheinische Post reported. Tesla representatives also inspected possible sites in Lower Saxony, newspaper NWZ reported earlier in the week. In June, CEO Elon Musk called Germany “a leading choice for Europe” in a reply to a tweet asking if ...

Bloomberg The cost of producing hydrogen gas with renewables is likely to plummet in the coming decades, making one of the most radical technologies for reducing greenhouse gases economical. That’s the conclusion of an analysis by BloombergNEF, which said the most abundant element is likely to play a growing role in reducing pollution from power producers and industry. The findings ...

RIYADH / WAM The joint government services training programme organised by the UAE and Saudi Arabia, titled, ‘UAE-Saudi Capacity Building Programme’, has begun in the Saudi capital, Riyadh. The programme aims to build the capacities of government services employees from the two countries, according to specialised services criteria and as part of their partnership, as represented by the Saudi-Emirati Coordination ...

Bloomberg Donald Trump acknowledged having second thoughts on escalating the trade war with China — only for his top spokeswoman to later say he meant he regretted not raising tariffs even more. White House Press Secretary Stephanie Grisham now says the media misinterpreted Trump’s initial remarks. Trump doesn’t regret starting a trade war but he does have second thoughts on ...

ABU DHABI / WAM Accommodation & Food Services contributed AED32.5 billion in real prices to the 2018’s GDP, a growth of 4.2 percent on year, according to Federal Competitiveness and Statistics Authority (FCSA). In real (constant) prices, the sector’s contribution to non-oil GDP reached 6.8 percent during 2018, maintaining the high momentum it has created over the past years, driven ...

ABU DHABI / WAM Adnoc Distribution announced that its shares have been certified as Shari’a compliant based on the recent screening assessment made by The Unified Committee of Isla-mic Banks for Shari’a Screening of Equities — UAE. This certification enables brokerage arms of Islamic banks to trade Adnoc Distribution shares. Adnoc Distribution’s Acting CEO, Saeed Mubarak Al Rashdi, said, “We ...

Emirates Business Leading UAE-based technology and sustainability-driven facilities management (FM) company Farnek, has been awarded a five-year contract by Dubai Airports. Farnek, which will mobilise in excess of 800 cleaning staff to fulfil the contract, will be responsible for Terminals 1 & 2, Concourse D, Cargo & Logistics at Dubai International (DXB), as well as Dubai World Central (DWC). “Farnek ...

Ajman / Emirates Business The number of businesses choosing Ajman Free Zone (AFZ) to locate their operations continues to increase in the first six months of 2019 with 8.23 percent. The total number now stands around 8000. In addition to this, there to 91 percent of those companies who were contractually obliged to re-new, with the demand for business offices ...

DUBAI / WAM The Dubai International Financial Centre (DIFC) Courts released its figures for the first half of 2019, with a total volume of 463 cases across all divisions for the first six months of 2019, a 25 percent increase from the first half of 2018. The English-language common law courts continued to assist global businesses resolve their largest and ...