News

Bloomberg Taiwan’s December export orders plunged the most in almost three years in the latest warning sign for global trade. Export orders fell 10.5 percent in December versus the same period a year ago, according to Taiwan’s Ministry of Economic Affairs, the biggest decline since April 2016. The US was a rare bright spot, with orders gaining 5.6 percent, while ...

Bloomberg At this time of year, Carlos Ghosn would normally be hobnobbing with the global elite at the World Economic Forum in Davos. Instead, he’s languishing in a Tokyo prison. Now the ousted Nissan Motor Co chairman is making a last-ditch effort to win release on bail by pledging to remain in Japan before his trial for alleged financial misconduct. ...

Bloomberg The operation of the World Trade Organization (WTO) may soon stall because of US delays in appointing new judges, Canada’s trade minister said as he prepares to convene another round of reform talks in Davos. Jim Carr, in an interview with Bloomberg’s Kathleen Hays in Tokyo, said the US refusal to appoint judges to the appellate body of the ...

Bloomberg Facebook Inc is endowing a new institute devoted to the ethics of artificial intelligence (AI) at the Technical University of Munich, in Germany. The new center, which Facebook is funding with an initial grant of $7.5 million over five years, will investigate issues around AI safety, fairness, privacy and transparency, Joaquin Quinonero Candela, Facebook’s director of applied machine learning, ...

Bloomberg For all the hand-wringing and headlines over the fallout of the US government shutdown, most forecasters still don’t expect it to cause too much pain to the economy so long as it doesn’t endure. Analysts project the government will reopen by mid-February, though if the closure lasts through March, the disruption will cause economic growth to dip below 2 ...

Bloomberg Just Eat Plc’s CEO is leaving after a surge in competition from rival apps and pressure from an activist shareholder to speed up decision-making and consider the sale of assets. Peter Plumb is stepping down with immediate effect, with Peter Duffy, chief customer officer, appointed as interim CEO. In December, shareholder Cat Rock Capital Management LP recommended Just Eat’s ...

ABU DHABI / WAM The World Future Energy Summit (WFES) 2019, a key enabler of Abu Dhabi Sustainability Week, has facilitated deals valued at $10.5 billion to be implemented across 20 countries during its four-day run at the Abu Dhabi National Exhibition Centre. The event saw a consortium led by Masdar and France’s EDF win a tender to build a ...

DUBAI / WAM The UAE 2nd Customs Week began on Sunday under the theme ‘smart borders’, to help educate all segments of society and encourage them support customs activities and role in society and the national economy. Ahmed Mahboob Musabih, Director of Dubai Customs, said, “It’s very important to help everyone learn about essential role customs departments in UAE play ...

Dubai / WAM Etisalat Digital has entered into a strategic partnership with the Federal Electricity and Water Authority (Fewa), to provide them with ‘Etisalat Direct’. This bespoke solution is hosted and powered by Etisalat’s UAE based OneCloud and is a fully managed application that enables FEWA to connect with their customers more effectively. Etisalat Direct allows application to send messages ...

Dubai / WAM Dubai Investments Park (DIP), the wholly owned subsidiary of Dubai Investments, announced that total built-up warehouse, office and commercial unit space sub-leased at Dubai Investments Park, passed the 5 million sqft mark in 2018. Among the tenants are Kingspan Insulation, the sustainable building solutions provider behind major Middle East projects, including the Louvre Abu Dhabi, Atlantis The ...