News

Bloomberg Economic growth in the Netherlands came in better than economists forecast in the first quarter, adding to the run of recent good numbers from the euro area. The first-quarter performance saw the region’s fifth largest economy grow 0.5% compared with the previous three months. That was just ahead of the 0.4% median forecast of economists. Expansion in the 19-nation ...

Bloomberg Consumers can press ahead with a lawsuit that accuses Apple Inc. of using its market dominance to artificially inflate prices at its App Store, the US Supreme Court ruled. The 5-4 decision could add to pressure the company faces to cut the 30% commission it charges on app sales. Lawyers pressing the case have said they will seek hundreds ...

Dubai / Emirates Business The UAE currently leads the Mena region in organisations adopting a holistic strategy towards sustainability, according to a study sponsored by Emirates NBD that sheds light on the practices of sustainability and Corporate Responsibility management in the region. The study, which was conducted by Sustainable Square, a boutique advisory firm specialised in responsible investment, sustainability and ...

Bloomberg Oil was caught between the specter of a full-blown US-China trade war damping demand and a supply backdrop ripe with potential risks. Futures in New York edged higher after swinging between a 0.7% loss and a 0.3% gain. US officials were expected to release details of additional tariffs of 25% on all remaining Chinese imports. That came after Beijing ...

Dubai / WAM Dubai Science Park (DSP) announced that it is leveraging its new built-to-suit model to construct a new Global Research Centre for Himalaya Drug Company, a producer of over 300 cosmetics, nutritional supplements, herbal medicines and pharmaceutical-grade Ayurvedic products in over 90 countries. The centre is due to open in 2021. The Himalaya Global Research Centre has been ...

Bloomberg Dubai Islamic Bank (DIB) hired HSBC Holdings Plc to advise on its possible acquisition of Noor Bank, according to people with knowledge of the matter. Noor Bank is working with Barclays Plc on the deal, the people said, asking not to be identified because the discussions are private. An acquisition would create a lender with AED278 billion ($76 billion) ...

Bloomberg Pakistan and the International Monetary Fund (IMF) reached an agreement on a loan of about $6 billion designed to help the South Asian nation avert an economic crisis. The lender’s executive board will meet to appr- ove the agreement for the 39-month loan, “subject to the timely implementation of prior actions and confirmation of international partners’ financial commitments,” IMF’s ...

CAIRO / WAM The Arab League Secretary-General Ahmed Aboul Gheit has condemned in the strongest terms the sabotage of four commercial vessels near the territorial waters of the UAE. In a statement denouncing the incident, Aboul Gheit said that these criminal acts represent a serious violation of the freedom and safety of trade and maritime transport routes, and would raise ...

ABU DHABI / WAM The Integrated Transport Centre (ITC), in Abu Dhabi has announced that premium parking tickets can be used in all premium and standard parking bays in Abu Dhabi. Whereas standard parking tickets can only be used in standard parking bays in all areas in Abu Dhabi Island. Khamis Al Dahmani, Head of Mawaqif Team, stated that this ...

DUBAI / WAM Dubai Science Park (DSP), has announced that it is leveraging its new built-to-suit model to construct a new Global Research Centre for Himalaya Drug Company, a producer of over 300 cosmetics, nutritional supplements, herbal medicines and pharmaceutical-grade Ayurvedic products in over 90 countries. The centre is due to open in 2021. The Himalaya Global Research Centre has ...