News

Abu Dhabi / WAM The Abu Dhabi Department of Culture and Tourism has made many achievements, in light of the emergence of specialist tourism trends and its efforts to improve local tourism infrastructure and to inaugurate new attractions that combine originality, modernity and hospitality. These achievements have positively affected the number of visitors to the emirate and its hotel occupancy ...

Dubai / Emirates Business Emirates, the world’s largest international airline, delivered another year of trendsetting product and service initiatives across its fleet and network to make ‘flying better’ for its customers. In the last twelve months, Emirates carried over 59 million passengers on over 3,700 passenger flights on average per week. The airline proudly served a diverse menu of over ...

Bloomberg The world’s biggest banks are reckoning on a rebound in oil prices next year as fears of a recession prove misplaced. The Brent benchmark will average $70 a barrel in 2019, according to a Bloomberg survey of oil analysts. Futures in London and New York plunged this quarter, with volatility soaring in its final week as crude tracked gyrations ...

Bloomberg China is the latest victim of the wild swings in oil prices that have roiled trading firms across the globe this year. Two top officials at Unipec, one of the country’s most powerful trading companies, were suspended this week following losses on bets related to oil prices in the second half of the year, according to people with knowledge ...

Bloomberg Hitachi Ltd. is seeking to buy Polish leasing and vehicle-fleet operator Prime Car Management SA, potentially setting up a bidding war between the country’s largest lender and the Japanese manufacturing conglomerate. A local leasing and fleet-management unit of Hitachi offered to acquire all shares of Gdansk-based Prime Car at 12.09 zloty each, according to a filing. That would value ...

Bloomberg The daughters of Nissan Motor Co.’s former chairman Carlos Ghosn, indicted on suspicion of violating Japan’s financial reporting laws, believe the accusations are part of an internal revolt within the carmaker to prevent a merger with Renault, the New York Times reports. His eldest daughter, Caroline Ghosn, said when she saw Nissan Chief Executive Officer Hiroto Saikawa’s televised news ...

Bloomberg China’s red-hot bond rally is ending the year on a high note. The nation’s 10-year government bond futures surged as much as 0.49 percent in intraday trading, the most since November 14, and the yield on the notes fell in the cash bond market. This came as the PBOC net injected $32 billion into the financial system through open-market ...

Bloomberg China’s Ministry of Education has asked universities to inspect all research work on gene editing and submit a report to the government by year end showing that the work doesn’t breach ethical boundaries. The order comes a month after Shenzhen-based researcher He Jiankui shocked the world by claiming he had edited the genes of a pair of twin baby ...

Bloomberg The cost of pollution in the European Union’s cap-and-trade system is likely to surge again next year, contributing to rising electricity costs that are already uncomfortable for industry. Carbon futures, reflecting the price factories and utilities pay for their emissions, tripled in 2018, making it the best performing major commodity of the year. Those contracts may surge again in ...

Bloomberg The UK has awarded contracts worth 108 million pounds ($137.2 million) to charter extra ferries for freight shipments between southern England and the rest of Europe in the event that a no-deal Brexit creates bottlenecks at Dover’s port, the BBC said. Department for Transport officials hired Brittany Ferries of France, Danish shipping firm DFDS and UK-based Seaborne Freight for ...