News

VATICAN / WAM Pope Francis, the head of the Catholic Church, has affirmed that tolerance and UAE are ”two sides of the same coin” during an audience with Sara Almahri, Acting Charge d’Affaires of the UAE Embassy in Madrid. Pope Francis commended the UAE’s vision for promoting values of coexistence and tolerance, which he said that he himself had seen ...

Dubai / WAM Dubai Electricity and Water Authority (Dewa), announced that adoption of its smart services reached 93 percent by the end of Q1 of 2019. Dewa’s services are available round the clock through various channels and smart platforms, according to the highest standards of availability, reliability and efficiency. “We are committed to providing Dewa’s services round the clock in ...

Dubai / WAM His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, and the Patron of the Al-Maktoum Foundation, was briefed about the achievements of the ”Compassionate Hearts” campaign in Egypt. The information was conveyed to Sheikh Hamdan when he received the Foundation’s Representative, Dr Salah Al Jarawi, in Egypt. The initiative, launched ...

Dubai / WAM Dubai Investments has supported a social programme for women of determination, a year-long calendar of events and activities that will enable and empower individuals and their families, and promote greater social inclusion within the wider community. Dubai Investments provided support for the special 12-month programme, developed by Kalimati Communication and Rehabilitation Centre, which will provide a sustained ...

FUJAIRAH / WAM A wide range of development projects are underway in the UAE’s East Coast Emirate of Fujairah as it seeks to diversify its economy. The Port of Fujairah, its adjacent anchorage and the Fujairah Oil Industry Zone, FOIZ, are already well-established as the second largest oil bunkering centre in the world, with a new 250,000 barrels per day ...

Bloomberg Luckin Coffee Inc, a challenger to Starbucks Corp in the race to dominate China’s growing coffee culture, climbed in its trading debut after raising $561 million in an expanded US initial public offering. The Xiamen-based company, which opened at $25, climbed as much as 53 percent in New York trading. Luckin sold 33 million American depositary shares for $17 ...

Bloomberg Tata Group-controlled Indian Hotels Co Ltd has joined hands with Singapore’s wealth fund, GIC Pte, to invest as much as $600 million over three years in buying hotels in India. The partners will acquire fully-operational hotels mainly in the luxury, upper scale and upscale segments and house these in a separate special purpose vehicle with its own funding, according ...

Bloomberg Alibaba Group Holding Ltd faces complaints from six European consumer organisations into allegedly unfair user terms for its online retail service, arguing some of the clauses violate European Union law. Consumer groups, including from France, Spain, Italy and the Netherlands, filed complaints with national regulators to probe “unclear” and “problematic contract terms and practices” for AliExpress users in the ...

Bloomberg The US “purely fabricated” accusations that Chinese authorities had been forcing foreign companies to transfer technology, according the flagship newspaper of the Communist Party, saying it was an old argument to suppress the country’s development. The US hasn’t been able to provide examples of cases where overseas companies had to do so despite repeated requests by China for evidence, ...

Bloomberg Hong Kong’s government maintained its forecast for gross domestic product growth this year at between 2 percent and 3 percent, as the city grapples with the fallout from the trade war between the US and China. In a release revising up first quarter GDP growth to 0.6 percent from a year ago, the government said the outlook is currently ...