News

Bloomberg After eating the dust of its German rival for past three years, BMW AG is getting a faster start off the line in early 2019. BMW sales rose 2.9 percent in March and were roughly flat in the first quarter, as surging demand for X3 compact crossovers helped the brand surpass Daimler AG’s Mercedes-Benz. A slump for the small ...

Bloomberg Most major automakers capped the first quarter with declining US sales again in March, as the sugar high from last year’s tax cuts wore off and the economy lost steam. Fiat Chrysler Automobiles NV, Nissan Motor Co and Toyota Motor Corp each reported deliveries dropped for the month and are down year-to-date. General Motors Co, which releases results only ...

GENEVA / WAM World trade will continue to face strong headwinds in 2019 and 2020 after growing more slowly than expected in 2018 due to rising trade tensions and increased economic uncertainty. World Trade Organisation (WTO) economists expect merchandise trade volume growth to fall to 2.6% in 2019 down from 3.0% in 2018. Trade growth could then rebound to 3.0% ...

Abu Dhabi / WAM Abu Dhabi Securities Exchange (ADX), announced a 95 percent compliance rate regarding the disclosure of the annual financial statements 2018 of its listed public joint stock companies within the deadline of 90 days from the end of the financial period. According to a statement, 62 out of 65, local and foreign, public listed companies disclosed their ...

ABU DHABI / WAM The gross domestic product (GDP), at current prices, for Abu Dhabi, increased by 12.9% in the fourth quarter (Q4) of 2018 compared with the same period in 2017, according to estimates released by Abu Dhabi Statistics Centre (SCAD). In 2018, SCAD estimated the GDP, at current prices, grew by 14.5% to AED931.2 billion from AED813.6 billion ...

Bloomberg Crude advanced for a third day after a further reduction in supply from Opec signaled that global markets are tightening. Futures added as much as 1.3% to the highest level since November in New York on Tuesday. Declines in Opec production are stoking optimism among investors as Saudi Arabia pressed on with output curbs and as power blackouts in ...

ABU DHABI / WAM Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance, has hinted at the UAE’s model of tolerance becoming a “global movement” for good, saying that the model has the potential to transcend national borders. He believes that the UAE provides the perfect breeding ground for the cultivation of tolerance, adding that the ‘Year of Tolerance’ will ...

Abu Dhabi / WAM As part of its strategic objective to support to the cinema and film industry in the UAE, the National Media Council (NMC), launched the National Programme for Supporting Emirati films. The programme was launched during a ceremony the NMC hosted on Tuesday at the Etihad Museum in Dubai to sign a set of agreements with the film ...

Abu Dhabi / WAM Khidmah announced its obtaining seven new contracts spanning the emirates of Abu Dhabi, Dubai and Umm Al Qaiwain. According to a press statement by the Abu Dhabi-based facilities management company, the scope of the contracts will apply Khidmah’s customised “customer centric approach” to facilities management delivery. Commenting on the announcement, Khidmah Executive Director Stephen Fenn said, ...

Dubai / WAM Saeed Mohammed Al Tayer, Managing Director and CEO of Dubai Electricity and Water Authority (Dewa) showcased the authority’s most important development projects and strategic initiatives to a visiting high-level delegation from leading Dutch energy and water companies, in Dubai. He welcomed the delegation headed by Ahmed Aboutaleb, Mayor of Rotterdam in The Netherlands, and Hans Sandee, Consul-General ...