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Bloomberg Mercedes-Benz USA is under investigation by US safety regulators who say the luxury-auto maker may be taking too long to send safety recall notices to car owners and inform the government. The National Highway Traffic Safety Administration told the unit of Germany’s Daimler AG that it found numerous instances in which owners of recalled cars weren’t notified within the ...

Bloomberg Profit secured. Tesla Inc blew away expectations with just the third quarter of positive earnings in its history, bolstering Elon Musk’s bid to make selling electric cars a financially sustainable business. The profit and cash that Tesla generated sent its shares surging to levels last seen in mid-August, when the chief executive officer was still in the midst of ...

DUBAI / WAM The UAE has been ranked first globally in five Islamic economic sectors, according to the latest results of the “Global Islamic Economy Report 2018-2019.” The Dubai Islamic Economy Development Centre (DIEDC) on Sunday published the results of the report, titled “An Inclusive Ethical Economy.” The sixth report in the series was commissioned by DIEDC and produced by ...

Emirates Business Agthia Group PJSC, one of the UAE’s leading food and beverages companies, reported a net profit of AED 159 million during the first nine months of 2018, representing a 9% like-for-like increase compared to the same period last year. The group also reported AED 1.49 billion net revenues while gross profit margin reached a record-high 34.7 percent because ...

Bloomberg Saudi Basic Industries Corp (Sabic), the Middle East’s biggest petrochemicals producer, posted a 5.4 percent increase in third-quarter pro-fit on higher prices and sales, meeting analysts’ estimates. Net income rose to 6.1 billion riyals ($1.63 billion) from 5.8 billion riyals a year ago, the Riyadh-based company said in a statement. The average estimate of analysts was for a profit ...

DUBAI / Emirates Business Commercial Bank International (CBI) announced an enterprise partnership with Microsoft Gulf. The Bank will move to the trusted Microsoft Cloud, as a key step in its digital transformation journey. Over past three decades, CBI has established itself as a leading UAE bank helping individuals and businesses manage their finances. To achieve its strategic aspiration of providing ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Sunday inaugurated the fourth session of the 16th legislative chapter of the Federal National Council (FNC). Dr Amal Abdullah Al Qubaisi, Speaker of Federal National Council, delivered a speech welcoming Sheikh Mohammed and his inauguration of the ...

Abu Dhabi / WAM The second Agriscape, the international exhibition dedicated to agricultural investments abroad, will kick off on Monday at Rosewood Abu Dhabi under the patronage of HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs. The event, organised by Food Security Centre Abu Dhabi under the supervision of Mariam Hareb Almheiri, Minister ...

Sharjah / WAM Air Arabia, the Middle East and North Africa’s first and largest low-cost carrier, has celebrated 15 years of successful operations which transformed the air travel industry in the wider Mena region by unveiling a new brand identity that is reflective of its innovative forward-looking and international approach. The unveiling took place during a launch ceremony at the ...

ADEN / WAM Food assistance from the UAE reached 448,000 underprivileged Yemenis last month, including 320,000 children and 65,000 women, as part of the UAE’s ongoing humanitarian and relief efforts to ease the suffering of the Yemeni people caused by the Iran-backed Houthi militias. Aid workers from the Emirates Red Crescent (ERC), distributed over 64,000 food baskets in nine governorates, ...