News

Bloomberg One of Germany’s biggest and oldest companies wants to become carbon neutral by next year, starting a race to tap more green power, ramp up energy savings and offset emissions. Robert Bosch GmbH announced the sweeping plan that will impact 400 sites worldwide. It puts the 133-year-old company at the forefront German blue chips moving to eliminate emissions as ...

Bloomberg Oil traded near a five-week low as concern over supply losses from Iran to Russia were offset by high American stockpiles and fears that if US-China trade talks fail it could dent global demand. Futures erased earlier gains to fall as much as 0.5 percent in New York after a 1.4 percent plunge. Russian tankers continue to hold Urals ...

DUBAI / WAM Joint task forces comprising representatives of the governments of the UAE and Uzbekistan held a four-day series of meetings and workshops to discuss 17 areas of cooperation in modernising government work. The workshops’ agenda falls within the framework of an official visit of a high-level Uzbek government delegation to the UAE, aimed at activating a strategic partnership ...

Abu Dhabi / WAM The latest figures released by the Department of Culture and Tou-rism — Abu Dhabi for emirate’s hospitality sector reveal that total hotel revenues for the emirate for Q1 of 2019 have increased by more than 16 percent compared to the same period in 2018. In total 1,291,482 visitors were guests of Abu Dhabi’s 169 hotels and ...

Bloomberg Bahrain is planning to return to international bond markets this year for first time since the kingdom’s Gulf allies pledged a $10 billion package to help repair its finances and support its currency, according to people familiar with the matter. Government officials are in talks with banks for a possible issuance in the second half of the year and ...

Bloomberg How bad is the trade war for materials investors? How about nearly $21 billion lost in two days. The S&P 500 Materials Index fell about 3.2 percent against the close after President Trump threatened to raise tariffs on billions of dollars of imports from China. The total value lost for the index totalled about $21 billion, according to Bloomberg ...

BOGOTA / WAM The UAE Embassy in Colombia launched the first edition of its bi-annual Spanish-language e-newspaper, titled, “Darna.” The newspaper is aimed at introducing the Colombian community to the UAE’s cultural, social and economic achievements. Salem Rashid Al Owais, UAE Ambassador to Colombia, said that the embassy aims to reach out to private companies, the local business community, and ...

Sharjah / Emirates Business Sharjah Investment and Development Authority (Shurooq), Sharjah Chamber of Commerce and Industry (SCCI) and the Sharjah FDI Office (Invest in Sharjah) will organise the fifth edition of the Sharjah Economic Ramadan Majlis on May 12 at the Al Jawaher Reception and Convention Centre (JRCC) in Sharjah. The Majlis will host discussions on a series of topics ...

Dubai / Emirates Business Amlak Finance PJSC, a leading specialised Islamic real estate financier in the Middle East, on Wednesday announced its financial results for the first quarter ended March 31. The company reported net profit of AED 2 million in Q1 2019 compared to AED 7 million net profit in Q1 2018. The company’s total revenues including unrealised fair ...

Abu Dhabi / Emirates Business Al Adil Trading Co LLC, UAE’s leading name for Indian food stuff expanded their presence in the region when they opened the 40th outlet of Al Adil at Khalidiyah, Abu Dhabi. The branch was inaugurated by Shilpa Shetty, the stunning and beautiful Indian actress in the presence of Dr Dhananjay Datar, Chairman, Mrs Vandana Datar, ...