News

Bloomberg Volkswagen AG plans a renewed push into the lucrative pickup segment that’s elu-ded the German manufacturer for years. The compact Tarok, shown in Sao Paulo, “will soon” be offered in Brazil, the company said in a statement. The truck “has the potential to boost Volkswagen’s model range in other global markets,” it said without providing details. The world’s biggest ...

Bloomberg Just as Prime Minister Theresa May is closing in on a Brexit deal, the march of companies quitting Britain is getting louder. On one day alone, CME Group Inc. said it’s moving its $240 billion-a-day short-term financing market to Amsterdam from London in another blow for the City, while German ball bearings maker Schaeffler AG announced the closing of ...

ABU DHABI / WAM The United Arab Emirates ranked 10th on the list of the world’s most dominant economic and political powers in 2018, according to the US News World Report, where US headed the list, followed by Russia, China, UK, Germany, France and Japan, respectively, with Saudi Arabia coming ninth. According to the report, the world’s most powerful countries ...

ABU DHABI / WAM Government deposits in UAE-based banks hit an all-time-high of AED286 billion by the end of September 2018, up AED74 billion in the first nine months of the year, according to the Central Bank of the UAE statistics. The growth is attributed to rising oil prices, which grew by 35 percent during the past 12 months, reflecting ...

DUBAI / WAM Signifying Dubai’s rising role in global trade, the emirate’s external non-oil trade in the first nine months of 2018 reached AED965.3 billion. Re-exports registered 13 percent growth to touch AED299.2 billion, while imports reached AED592.2 billion, and exports AED97.7 billion. Dubai Customs, which released the emirate’s external trade figures, applauded this achievement and attributed the high performance ...

ABU DHABI / WAM Government ministers fr-om 18 countries and over 80 leading oil and gas CEOs will meet in Abu Dhabi next week, as 2018 Abu Dhabi International Petroleum Exhibition and Conference (Adipec) commences amid a background of unprecedented change for industry. Hosted by Adnoc and su-pported by UAE Ministry of Energy and Industry, Abu Dhabi Chamber of Commerce ...

ABU DHABI / WAM UAE bourses kept their upward move for the second day running, ending Tuesday’s session in the green, and posting gains to the tune of AED5 billion, driven by upbeat sentiments across the banking and realty sectors where a select of blue chips were in a high demand. The positive mood left Abu Dhabi Securities Exchange General ...

DUBAI / WAM HH Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of Mohammed bin Rashid Al Maktoum Knowledge Foundation, opened on Tuesday the Gulfood Manufacturing, the largest and most influential trade show for the food processing and manufacturing sector in the Menasa region, at Dubai World Trade Centre. Strong market demand has promoted an exhibitor intake of over ...

BEIJING / WAM Dr Amal Abdullah Al Qubaisi, Speaker of the Federal National Council (FNC), on Tuesday discussed, with Wang Yang, President of the National Committee of the Chinese Political Consultative Conference, ways of reinforcing the overall parliamentary relations between the UAE and China, based on friendship and mutual respect and achieving their mutual interests. They also discussed ways of ...

ABU DHABI / WAM The first three renewable energy projects under the $50 million United Arab Emirates-Caribbean Renewable Energy Fund (UAE-CREF), have broken ground in the Bahamas, Barbados and Saint Vincent and the Grenadines, the UAE Ministry of Foreign Affairs and International Cooperation (MOFAIC), announced on Tuesday. Fully financed by the Abu Dhabi Fund for Development (ADFD), the UAE-CREF is ...