News

ABU DHABI / WAM The value of social aid provided to Abu Dhabi citizens in 2017 amounted to AED885 million, which reflects the keenness of the emirate and the UAE to support eligible community members, through government and non-profit organisations. The number of non-profit organisations in Abu Dhabi reached 65 in 2017, an increase of five compared to 2016, which ...

Abu Dhabi / WAM HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, stressed the crucial role of the UAE Government Annual Meetings in setting the roadmap for achieving the UAE’s development goals and building on its achievements. The UAE Government adopted four initiatives to enhance the efficiency of public spending, optimise use of ...

Abu Dhabi / WAM The UAE Government launched four new initiatives in a bid to develop work mechanisms in both the environment and municipality sectors in different regions across the UAE. The initiatives aim to promote the National Animal Welfare Plan, increase local agricultural and livestock production, and promote awareness about the concept of climate change and related measures amongst ...

Abu Dhabi / WAM The Second UAE Government Annual Meetings, held in Abu Dhabi, witnessed the launch of two national initiatives aimed at reinforcing the artificial intelligence, AI, and Blockchain sector to strengthen the UAE leading position globally. During the meeting held by the AI and Blockchain Joint Working Group, attendees tackled the appropriate mechanisms to attract foreign investment, encourage ...

Bloomberg Canada’s lingering crude glut isn’t hindering the country’s growing oil output, according to the National Energy Board’s most recent forecast. The country’s oil production will average 4.59 million barrels a day, 22,000 more than previously forecast, data from the Canadian energy regulator show. The raised production outlook comes even as pipeline bottlenecks have driven Canadian crude prices to record ...

Bloomberg Indonesia’s Go-Jek plans to roll out a preliminary version of its ride-hailing app in Singapore, bringing fresh competition to the hometown of arch-rival Grab, according to people familiar with the plan. Go-Jek’s beta app will be available to a limited number of consumers before expanding it to a wider population as testing progresses, said the people, who asked not ...

Bloomberg New Zealand has followed Australia in banning China’s Huawei Technologies Co. from supplying fifth-generation wireless equipment to the nation’s telecommunications operators, citing national security concerns. News of the ban came via Spark New Zealand, which said its intention to use Huawei 5G equipment had been blocked by the Government Communications Security Bureau. The GCSB told Spark that, if implemented, ...

Bloomberg Carlos Ghosn, the embattled former chairman of Nissan Motor Co., denied reports that he passed on personal trading losses to the carmaker, the first comment from the executive who is detained on numerous allegations of financial misdeeds. Ghosn acknowledged consulting Nissan about the collateral related to the contract, but didn’t transfer the losses to the automaker, said Motonari Otsuru, ...

Bloomberg China’s love for fast cars is helping Porsche AG see unprecedented demand even while industry sales fall for a fifth straight month. “We will have a very good year in China with sales increase over 10 percent,” Chief Executive Officer Oliver Blume told Bloomberg Television from the Los Angeles auto show. There’s been a very big increase especially for ...

Bloomberg A Hong Kong startup called Oriente raised $105 million as it expands online lending operations in Southeast Asia and develops new products and technologies for markets like Indonesia and the Philippines. Oriente was founded in 2017 by Skype Inc. co-founder Geoffrey Prentice, former Lu.com Chief Operating Officer Hubert Tai, and Lawrence Chu, founder of BlackPine Group. It provides loans, ...