News

Bloomberg TransCanada Corp. hired RBC Capital Markets LLC to sell a stake in the Coastal GasLink project, which would supply a Royal Dutch Shell Plc-led gas-export terminal, as the pipeline faces mounting opposition. If TransCanada moves forward with the sale, joint venture partners in the C$6.2 billion ($4.7 billion) project could end up owning as much as 75 percent of ...

Bloomberg Euro-area economic confidence extended its worst losing streak in a decade at the start of 2019 as member states faced a variety of domestic frailties and trade uncertainties. The European Commission’s economic sentiment index dropped more than economists forecast in January, reaching the lowest in more than two years. Pessimism spread in industry, services and retail trade, while the ...

Bloomberg An endangered UK regulator is demanding that asset managers change the way they interact with investors under new rules that require funds to provide more information on their business culture. A key difference in the updated stewardship code from the Financial Reporting Council is that asset managers will have to report what they’ve actually done, rather than just their ...

Bloomberg UK lenders approved the fewest home loans in eight months in December and demand for unsecured debt remained subdued, Bank of England figures show. The slowdown reflects fears that Britain risks leaving the European Union without a deal, a scenario that could rock the property market. Consumer credit grew at its slowest annual pace in four years. UK mortgage ...

Bloomberg A new privacy bill proposed by Senator Marco Rubio, which would override more restrictive state laws, is winning support from a Washington-based technology trade group that counts Alphabet Inc.’s Google, Facebook Inc. and eBay Inc. as members. The Florida Republican’s legislation would impose a national privacy standard and supersede tougher data-protection regulations that will take effect in California in ...

ABU DHABI / WAM The Department of Health Abu Dhabi (DoH), launched its Artificial Intelligence (AI), Lab at Arab Health 2019. The AI Lab is a first-of-its-kind initiative in region, dedicated to developing healthcare solutions through emerging technologies including AI, Blockchain, genomics, predictive analytics and Internet of Medical Things, among others. Bringing together individuals, industry experts and service providers, the ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, received on Tuesday, Sheikh Nasser bin Sabah Al-Ahmad Al-Sabah, First Deputy Prime Minister and Minister of Defence of Kuwait. His Highness welcomed Sheikh Nasser Al-Sabah, and held discussions on the brotherly relations between the ...

ABU DHABI / WAM Abu Dhabi Commercial Bank PJSC on Tuesday reported net profit of AED4.840 billion for the fiscal year 2018, up 13% on year. The robust performance is supported by record operating income, optimal management of cost of funds and lower impairment charges, ADCB said in a press release on Tuesday. As a result of the Bank’s strong ...

DUBAI / Emirates Business Breakbulk Middle East, the GCC’s leading breakbulk and project cargo sector event, held a press conference on Tuesday in anticipation of the event’s fast approaching 4th annual edition. This year’s two-day conference and exhibition will be held under the patronage of HE Dr Abdullah Belhaif Al Nuaimi, the UAE Minister of Infrastructure Development and the Chairman ...

SHARJAH / WAM GE and Japan’s Sumitomo Corporation have reached a public-private partnership milestone by signing a 25 year Power Purchase Agreement (PPA) with the Sharjah Electricity and Water Authority (Sewa), to develop, build and operate a 1.8 gigawatt (GW), combined cycle power plant in Hamriyah. Equipped with GE’s HA technology, including the world’s largest and most efficient heavy-duty gas ...