News

Bloomberg The year was 1989 and Mark Read, armed with degrees from top-tier academic institutions and an appetite for business, wrote an application to Martin Sorrell, the founder of a little-known advertising outfit snapping at the heels of the titans on Madison Avenue. The letter landed Read his first job at WPP Plc and in the next years, the soft-spoken ...

Emirates Business The Abu Dhabi Smart Solutions and Services Authority (ADSSSA) announced it has signed a memorandum of understanding (MoU) with Microsoft to establish a ‘cloud centre of excellence’ that will aim to build its capacity for the delivery of cloud services and platforms, as well as upskill the emirate’s public sector workforce. This partnership is aligned with ADSSSA’s strategy ...

Bloomberg Oil optimists pushed bullish wagers to a six-month high as the rally in prices continued. Money managers raised optimistic wagers on Brent crude for a fifth straight week while closing out pessimistic bets by the most since January as turmoil in major oil-producing nations heightened supply concerns. Short-selling bets on the global benchmark plunged by 18 percent, according to ...

Bloomberg The International Monetary Fund (IMF) warned governments not to rock the boat with trade wars and other disruptions at a time when the global economy is already sailing through choppy waters. “We see downside risk and that means one has to be very careful,” IMF First Deputy Managing Director David Lipton told Bloomberg Television. “With trade tensions, not knowing ...

DUBAI / WAM Dubai Customs announced an 8.5 percent increase in customs transactions for the first quarter in 2019. Customs transactions grew to 2.6 million from 2.4 million in the same period of 2018. According to Dubai Customs, if this momentum is kept up, the customs authority is expected to reach 10.5 million transactions by year-end compared to 9.6 million ...

Dubai / Emirates Business The Ministry of Climate Change and Environment (MOCCAE) on Saturday launched the Fujairah Cultured Coral Reef Gardens, the largest project of its kind in the UAE, in collaboration with Fujairah Municipality, Dibba Fujairah Municipality and the Fujairah Adventures. In line with the Ministry’s strategy to protect the UAE’s biodiversity and ensure its sustainability, the project is ...

MARRAKESH / WAM Abu Dhabi Securities Exchange (ADX), has taken part in the fifth edition of the World Forum of Central Securities Depositories (WFC). The forum in Marrakesh, Morocco, hosted about 20 meetings and workshops, managed and presented by over 40 experts and specialists in financial markets. Held every two years, the forum tackles a range of issues related to ...

DUBAI / WAM The Roads and Transport Authority (RTA), has integrated a robot-operated vehicle registration plate maker in Dubai. The fully-automated machine can produce 33,000 plates per day. It applies the fourth industrial revolution (4IR), technologies and artificial intelligence applications to print registration plates without any human intervention. Soon, RTA will install ten similar machines at service provider centres and ...

AL MAKHA / WAM The Head of UN High Commissioner for Refugees Sub-office in Yemen has commended the multi-purpose projects and developments carried out by the UAE to alleviate the suffering of the Yemeni people. “The UAE has accomplished myriad multipurpose humanitarian and developmental projects and multifarious activities and initiatives which I feel very delighted to see in Yemen,” Jacqueline ...

Dubai / Emirates Business To highlight the innovations in construction business in the Middle East, UAE will host the first-ever, one-of-its-kind Mega City Infrastructure Week featuring more than 15 countries. Set to take place on April 16-17 at Roda Al Bustan, Dubai, the conference will be themed around innovations and technologies driving infrastructure and will host global visionaries and stakeholders ...