News

Bloomberg The UK labour market remained in robust health in the three months through January, despite a Brexit-induced slowdown in the overall economy. Employment hit a record high after the biggest jump in more than three years and underlying pay growth maintained its fastest pace in more than a decade as companies struggled to fill vacancies, Office for National Statistics ...

Bloomberg Vale SA’s shares declined as the world’s biggest iron ore producer faced continued backlash from Brazilian authorities after a deadly mining accident in January. Rio de Janeiro-based Vale was ordered on March 15 to shut its Timbopeba mine in Minas Gerais state, which produces 12.8 million tons of iron ore per year, due to safety concerns. A court ordered ...

Bloomberg Big companies often leave their suppliers hanging for weeks without pay, but Vodafone Group Plc is taking this a step further: it’s investing in a fund that makes money off the delay. The British phone operator poured 1 billion euros ($1.1 billion) into the 2.4 billion-euro fund run by beleaguered Swiss asset manager GAM Holding AG, which generates returns ...

ABU DHABI / WAM Emirates Global Aluminium (EGA) on Monday signed a volume commitment extension agreement for 2019 with the global shipping company AP Moller — Maersk to transport EGA’s aluminium to customers around the world. EGA exports its metal to customers in more than 60 countries worldwide and makes more than 11,000 shipments each year using over 100,000 containers. ...

Abu Dhabi / WAM The UAE’s two main bourses secured AED11.5 billion in gains on Monday, the highest in months, driven by the realty and banking sectors. Amidst high sentiments, General Index of the Dubai Financial Market increased 1.63 percent, closing high at 2619 points, with General Index of the Abu Dhabi Securities Exchange following suit, ending the session up1.8 ...

DUBAI / WAM An Italian delegation led by Liborio Stellino, Ambassador of Italy to the UAE, has visited Dubai Electricity and Water Authority (Dewa), and discussed ways to enhance strategic partnerships between Dewa and Italian organisations, and exchange best global experiences and practices. This is one of a series of visits by diplomatic and consular officials to Dewa to consult ...

Bloomberg Saudi Arabia led fellow members of the Opec+ coalition to reaffirm their commitment to output cuts, but conceded they should defer until June the decision on whether to extend the curbs. A committee of the most influential members in the 24-nation alliance, which includes Russia, Iraq and the United Arab Emirates, agreed to go beyond their pledged supply curbs ...

Dubai / Emirates Business Huge crowds thronged Thumbay Hosiptal – Dubai to take part in the ‘Walk for the Tolerance Walkathon’ organised by the hospital. Around 1600 people from all walks of life belonging to different nationalities and age groups marched in celebration of the UAE’s observance of 2019 as the Year of Tolerance, in line with the founding ethos ...

Sharjah / WAM Bee’ah, an environmental management company, has launched a new high-tech, Industrial Waste Water Treatment Plant (IWWTP), in Sharjah. The new plant at the company’s Waste Management Centre in Al Saj’ah, signifies a new milestone in the country’s zero-waste journey, and will be one of the UAE’s first dedicated full cycle treatment facilities for industrial and oil-contaminated wastewater. The ...

Dubai / WAM On the launch of the third round of Arab Hope Makers initiative, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said that “every person has a capacity to give and a talent to invest in serving societies.” He added, “Water drops make a river, and reigniting ...