News

HODEIDAH / WAM The Iranian-backed Houthi militias have shelled the storage depots of relief organisations in Hodeidah, leading to the destruction of food supplies and basic goods intended for the Yemeni people. Local eyewitnesses said that the militias deliberately shelled the storage depots, which are located 7 kilometres east of Hodeidah City, with the aim of covering up their looting ...

Dubai / WAM The wood industry in the UAE is expected to boom over the next two years as the country ramps up construction activities ahead of the Expo 2020 Dubai. The wood and woodworking machinery industry will be impacted from the massive construction projects being executed as part of the build-up for the Expo 2020 Dubai. The large-scale event ...

BRUSSELS / WAM The Emirates Red Crescent (ERC), will organise an exhibition, titled, “From Humanitarian Aid to Stability.” The three-day exhibition, which aims to highlight the humanitarian and development aid provided by the UAE to many countries, in coordination with the Federal National Council (FNC), will be held in Brussels starting Wednesday, at the headquarters of the European Parliament. The ...

Dubai / WAM The Real Estate Regulatory Authority (RERA), at Dubai Land Department (DLD), announced the launch of the smart application for real estate valuators ‘Taqyimee’, which will have a positive impact on the real estate valuation activities in the Emirate. The launch was attended by Sultan Butti bin Mejren, Director-General of DLD; Marwan bin Ghalita, CEO of RERA; and ...

Abu Dhabi / Emirates Business The next edition of Navdex 2019, held under the patronage of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE and Supreme Commander of the Armed Forces, will witness a record number of international and local participant companies specialised in the maritime defence industry. Held at the Abu Dhabi National Exhibition Centre ...

Bloomberg Eskom Holdings SOC Ltd will extend its strategy of trimming top executive positions to include lower ranking managers and finally the general workforce as South Africa’s cash-strapped power utility looks to cut costs, according to a person familiar with the plans. The state-owned company last month reduced its highest executive structure to nine positions from 21 by regrading and ...

Bloomberg After four years of planning, Tesla Inc finally broke ground on its planned $5 billion factory in the world’s biggest auto market. But the timing couldn’t be more inauspicious. Chief Executive Officer Elon Musk and some Shanghai officials, including Mayor Ying Yong, on Monday attended a function at a site near the city to kick off construction of what ...

Bloomberg Chinese Vice Premier Liu He unexpectedly attended the first day of talks aimed at resolving the trade dispute between the world’s two biggest economies, according to people familiar with the matter and a photo seen by Bloomberg. Liu is the top economic adviser to Chinese President Xi Jinping, who led previous negotiations in Washington that produced a deal that ...

Bloomberg Taiwan arrested six current and former BASF SE engineers accused of accepting bribes and sharing the German company’s technology with Jiangyin Jianghua Microelectronics Materials Co., in one of the more elaborate cases involving alleged Chinese intellectual property theft. Jianghua offered them $5.8 million in return for help building a new factory in the eastern Chinese province of Jiangsu, Criminal ...

Bloomberg These are tough times for the global health-care world, and only financially fit companies supported by strong research and development will survive, according to Takeda Pharmaceutical’s Christophe Weber. That goes a long way to explaining the Japanese drugmaker’s $62 billion deal to acquire Shire Plc, the chief executive said at a briefing, as the company prepares to close the ...