News

Abu Dhabi / WAM From its inception in 1971 until December 2018, the Abu Dhabi Fund for Development (ADFD), financed 108 water sector projects in 56 countries with a total value of AED8 billion. The Fund’s interest in water and electricity projects reflects its keenness to support international efforts aimed at achieving the UN’s Sustainable Development Goals, directly contributing to ...

Geneva / WAM The UAE has reiterated the critical role global parties can play by engaging in promoting values of tolerance. During a session entitled, ‘Celebration of diversity: beyond tolerance, the path towards empathy’, Obaid Salem Al Zaabi, UAE Permanent Representative to the UN and Other International Organisations in Geneva, stressed the importance of the role international bodies and governments ...

Abu Dhabi / WAM The Sheikha Fatima Global Humanitarian Campaign has announced the launch of the ‘Zayed Al Khair Camp’ which will see thousands of Rohingya refugee women and children receive medical care, under the supervision of a UAE-Bangladesh volunteer medical team. This latest endeavour was launched in conjunction with Mother’s Day, and falls within the framework behind ‘We Are ...

Dubai / Emirates Business A world-class speaker line up has been confirmed for the signature Abundance 360 (A360) Summit in Dubai, taking place at Emirates Towers on March 26-27. Conceptualised by renowned futurist Peter Diamandis, A360 is hosted by Dubai Future Foundation, and held under the patronage of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum Crown Prince ...

Bloomberg Apple Inc Chief Executive Tim Cook encouraged China to keep opening up its economy, as his company grapples with weaker demand from the nation and uncertainty over its trade war with the US. “We urge China to continue to open up,” Cook said during a speech at the annual China Development Forum in Beijing. “We see that as essential. ...

Bloomberg Chinese and Italian companies will sign 10 accords potentially worth as much as 20 billion euros ($23 billion) at a ceremony with Chinese President Xi Jinping on Saturday, according to an Italian official who declined to be named before the event. Xi and Italian Prime Minister Giuseppe Conte will separately sign a memorandum of understanding giving Italy a role ...

Bloomberg Japanese investors are powering this year’s US corporate bond rally. Money managers in Asia are binging on blue chip American company debt after having cut back late last year. A measure of overseas buying in 2019 has more than doubled from a year earlier, according to Bank of America Corp. Japanese purchases of foreign debt, including US corporate bonds, ...

Bloomberg Image search site Pinterest Inc. revealed steady revenue gains with narrowing losses as well as a big bet on overseas expansion, as it joined a surge of technology-related companies planning to go public in the US. Pinterest in its filing for an initial public offering reported strong user growth internationally and even a profit in the fourth quarter. It ...

Bloomberg General Motors Co. committed to investing $1.8 billion at plants in six states and to creating 700 new jobs, as the largest US automaker looks to ward off months of criticism by President Donald Trump. The bulk of the new jobs will go to a factory in Michigan where GM plans to add production of another fully electric vehicle. ...

Bloomberg Exxon Mobil Corp. plans to reduce the cost of pumping oil in the Permian to about $15 a barrel, a level only seen in the giant oil fields of the Middle East. The scale of Exxon’s drilling means that it can spread its costs over such a big operation that the basin will become competitive with almost anywhere in ...