News

Bloomberg Canadians enter 2019 far less optimistic about the economy than a year earlier. The Bloomberg Nanos Canadian Confidence Index, based on weekly telephone polling, ended 2018 at 55.1, down from 62.2 at the close of 2017. The change was driven more by Canadians’ views of the overall outlook than of their own finances — 39.6 percent expect the domestic ...

Bloomberg Five Federal Reserve indexes of regional manufacturing all slumped in December 2018, the first time they’ve fallen in unison since May 2016 and the latest evidence that a pillar of the US economy has started to wobble heading into 2019. The Dallas Fed’s factory index unexpectedly contracted, falling to a two-year low of minus 5.1 from 17.6 in November, ...

Abu Dhabi / Emirates Business On New Year’s eve, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, took to Twitter to greet UAE residents. In ...

ABU DHABI / WAM The investment of UAE’s banks in Saudi Arabia and Egypt reached AED87.2 billion ($23.7 billion)at the end of Q3 2018, representing 12.5 percent of the total assets invested abroad, which amounted to about AED693 billion in September of the same year. Figures from the UAE Central Bank show that the value of investments by UAE banks, ...

DUBAI / WAM The value of the UAE’s online travel sales in 2018 is forecast to reach AED17.3 billion, driven by a growing population, increasing number of tourists, and UAE residents’ shift towards digital services, a new analysis from the Dubai Chamber of Commerce and Industry revealed. The analysis, based on recent data from Euromonitor International, found that direct online ...

Bloomberg Oil headed for its first annual decline since 2015, slumping more than 20 percent in a turbulent year that saw fears of supply scarcity turn to expectations of a surplus. Crude surrendered early gains on Monday and fell as much as 1.3 percent in New York, on track for the worst quarterly drop since the last oil market crash ...

Dubai / WAM DP World, Dubai-based global operator of shipping terminals, diversified its global business portfolio through investments and acquisitions worth $3 billion in 2018, the company said. It also deepened its engagement with revolutionary new technologies and extended meaningful support to environmental initiatives around the world during the year, achieving strategic growth in diverse fields, it said. The headline ...

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 a delegation from the Federal Authority for Nuclear Regulation (FANR) on Monday at Qasr Al Bahr in Abu Dhabi. During the meeting, attended by HH Sheikh Tahnoun bin Mohammed Al Nahyan, Abu Dhabi ...

Sharjah / WAM In line with the directives of Major General Saif Al Zari Al Shamsi, Commander-in-Chief of Sharjah Police, all the security services of the Sharjah Police have started their work in various fields, roads, and vital places, which are intensely gushing during the New Year’s Day celebrations. Sharjah Police provides “96” traffic patrols on New Year’s Eve to ...

Dubai / Emirates Business Etisalat on Monday announced its strategic partnership with ASGC Construction to provide Enterprise Level Cloud Solutions combined with its secure managed IP connect service as part of their digital transformation roadmap. Herbert Fuchs, Chief Information Officer at ASGC, said: “We’ve selected Etisalat and their OneCloud Services as it perfectly meets our needs from scalability, flexibility, reliability ...