News

Bloomberg Verizon Communications Inc. unveiled a reorganisation focussed on three groups — consumers, business customers and media — as part of Chief Executive Officer Hans Vestberg’s plan to advance 5G wireless technology. Vestberg, who spent his entire career at communications-equipment maker Ericsson AB before coming to Verizon in April 2017, is making network technology a priority throughout the company. Fifth-generation ...

Bloomberg General Electric Co. is in talks to sell its commercial lighting division to American Industrial Partners, according to people familiar with the matter, as the manufacturer continues on its divestiture blitz. GE and AIP could announce a deal for the unit, which is known as Current, Powered by GE, as early as this week, said the people, who asked ...

Bloomberg The “deal dividend” promised to Britain by Chancellor of the Exchequer Philip Hammond might be tantalisingly close amid signs an amicable divorce from the European Union could be within sight. Hammond said that a Brexit agreement would allow him to end austerity. Bank of England Governor Mark Carney said the economy would finally see a way through the fog ...

ABU DHABI / WAM The joint project working teams of the Saudi-Emirati Coordination Council held a seminar to implement the strategy of resolve initiatives, which was attended by Mohammed bin Abdullah Al Gergawi, Minister of Cabinet Affairs and the Future and Chairman of the Executive Committee, to begin the launch of joint strategic projects, achieve the aspirations of the leadership ...

DUBAI / WAM As the UAE’s hospitality industry continues its rapid growth, it presents highly promising career opportunities for skilled professionals, especially Emirati youth. Hotels are increasingly looking out for local talent across operational and functional areas as part of their commitment to Emiratisation. At the Najah higher education fair in Abu Dhabi, Emirati job-seekers were seen showing a keen ...

Bloomberg Oil traded near a six-month low as the prospects of a tight global market at the end of the year further receded after the US softened the restart of sanctions against Iran. Crude advanced 0.6 percent in New York. Sanctions against Iran were reimposed on Monday, though eight countries were allowed to continue temporarily buying some crude from the ...

Emirates Business Shuaa Capital reported its financial results for the quarter ended on September 30, with AED30.1 million in net profits, up 31% year on year, the group’s highest quarterly figure since 2008. Year to date, net profits stood at AED56.4 million (YTD 2017: net profit of AED 59.8 million). The group’s asset management business line saw a 35% increase ...

ABU DHABI / WAM First Abu Dhabi Bank (FAB) said it is launching a new FAB Islamic logo inspired by FAB brand identity, and that its wholly- owned subsidiary Abu Dhabi National Islamic Finance, changed its legal name to First Abu Dhabi Islamic Finance. Fahad Al Shaer, CEO of First Abu Dhabi Islamic Finance, said, “Since we laun-ched our company ...

ABU DHABI / WAM While digital transformation has been on oil and gas radar for some time, harnessing the power of new technologies is now the top priority for the industry’s most senior decision-makers as they plot a path forward for their business. The International Energy Agency (IEA) has estimated digital technologies could cut oil and gas production costs by ...

ABU DHABI / Emirates Business Etihad Aviation Group (EAG), a diversified global aviation and travel group headquartered in Abu Dhabi, debuts its engaging and multifunctional booth under the theme of “embracing China, expanding partnership” at the First China International Import Expo (CIIE) at the National Exhibition and Conventional Centre in Shanghai. The CIIE, the biggest import trade show in China, ...