News

KHAWKHAH / WAM The UAE launched a water project in remote area in Khawkhah District, Hodeidah Governorate, to fulfil the needs of Yemeni people in Red Sea Coast. The project includes the restoration of an artesian well, a 100,000-litre water tank, a 36,000-metre water network, and a solar energy system. Mohamed Salim Al Junaibi, Emirates Red Crescent (ERC), Director of ...

New York / WAM The United Arab Emirates, in its capacity as the Chair of the Group of Member States of the Organisation of Islamic Cooperation (OIC), urged the international community to take united, practical measures to save the prospects for peace and the two-state solution during the quarterly Open Debate on the Situation in the Middle East, including the ...

Bloomberg Losses by India’s power retailers are set to rise, reversing two years of declines they enjoyed since Prime Minister Narendra Modi’s government unveiled a plan to make the ailing utilities profitable. Combined losses by state distributors that signed up for the federal government’s reform plan in the first nine months of the fiscal year rose to about $3.4 billion, ...

Bloomberg Singapore’s Jungle Ventures has raised $175 million from investors including Temasek Holdings Pte for the first close of its third fund, according to people familiar with the matter. The firm is likely to exceed its original target of $200 million as it finishes raising money for the fund in the next few months, said the people, asking not to ...

Bloomberg Jaguar Land Rover’s revamped Defender sport utility vehicle is headed for the rugged slopes of Kenya to tow heavy loads and wade through rivers before the resurrected icon goes on sale next year. Testing of the prototype will take place in the Borana Conservancy and include carrying supplies across unforgiving terrain in real-world trials at the 14,000 hectare reserve, ...

Bloomberg Alphabet Inc. reported first-quarter revenue that missed analysts’ estimates and spar-ked fears that advertisers are shifting some spending to digital rivals. Shares of Google’s parent company were down 7.8 percent during pre-market trading in New York on Tuesday. The stock closed at a record $1,296.20 shortly before its earnings were published. Sales came in at $29.5 billion, excluding payments ...

Bloomberg Microsoft Corp. unveiled a partnership with VMware Inc. in a bid to bring more customers to its Azure cloud-computing service, emulating a pact that has benefited rival Amazon.com Inc. The agreement will let VMware customers move their technology systems to Microsoft’s Azure cloud-computing services, the companies said in a statement. Amazon Web Services, the leader in the market for ...

Bloomberg Europe’s economy began 2019 with an unexpected growth spurt buoyed by France and Spain, easing pressure on the European Central Bank to add stimulus. The 0.4 percent increase in euro-region gross domestic product during the first quarter reported by Eurostat was twice the pace at the end of last year and more than economists predicted. Strong investment in Spain ...

Bloomberg Coal is piling up at ports across Europe, depressing both the cost of the fuel and price of electricity. Stockpiles at three European ports — Rotterdam, Amsterdam and Vlissingen — are near the highest since 2013. Supplies built up during a warmer than usual winter and as governments tried to reduce emissions from the most polluting fossil fuel. The ...

ABU DHABI / WAM First Abu Dhabi Bank (FAB) reported solid operating performance for the first quarter that ended on March 31, on Monday, with net profit amounting to AED3.1 billion, up 6 percent sequentially and 4 percent YoY. According to a press statement released by the bank, annualised earnings per share (EPS) stood at AED1.08, compared to AED1.06 in ...