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Bloomberg Four-fifths of UK companies have cut or withheld investment because of the uncertainty caused by Brexit, Britain’s biggest business lobby said. Some 58 percent of businesses have made plans to cut jobs, adjust supply chains, relocate production and services or stockpile products if no clarity emerges soon on Britain’s future relationship with the European Union after Brexit, according to ...

Bloomberg Short seller Fahmi Quadir, who’s betting against Tesla Inc., said the carmaker faces risks to its supply chain because some vendors haven’t been getting paid. Quadir, the founder and chief investment officer of Safkhet Capital LP, made a name for herself by shorting the drugmaker formerly known as Valeant Pharmaceuticals around its peak in 2015. She said her firm ...

Bloomberg Netflix Inc. will make its most important announcement of the year on Tuesday, reporting how many new customers signed up for the world’s largest paid online TV service over the past three months. With tech stocks taking a drubbing this month, investors will be seeking reassurance that the company’s disappointing second quarter was just a blip and not a ...

Bloomberg Instagram co-founder Kevin Systrom, in his first public appearance since leaving the photo-sharing app, said he felt comfortable moving on because it was already on a path to broader success at parent company, Facebook Inc. “It didn’t feel done by any stretch of the imagination, but it felt like it was in orbit, and if we let go and ...

ABU DHABI / WAM The Gross Domestic Product of the Emirate of Abu Dhabi surged 12 percent to as much as AED456 billion in current prices from AED407 billion in 2017, according to official figures released recently by the Abu Dhabi Statistics Centre — Abu Dhabi (SCAD). The growth reflects the economic recovery witnessed by the domestic economy on the ...

DUBAI / Emirates Business Mashreq, one of the leading financial institutions in the UAE, reported its financial results for the first nine months ending September 30, 2018. The net profit of the lender for the first nine months stood at AED1.7 billion, a 5% increase YoY, while its operating income rose by 3.6% and reached AED4.6 billion. Mashreq’s best- in-class ...

ABU DHABI / WAM The hotel guest night revenues across the Emirate of Abu Dhabi increased 22 percent during July 2018 as compared to June of the same year, according to the Statistics Centre — Abu Dhabi (SCAD) SCAD estimated the YoY growth at 4.5 percent and attributed it to the robust tourist infrastructure boa-sted by Abu Dhabi in terms ...

DUBAI / WAM Essa Kazim, Governor of Dubai International Financial Centre (DIFC), has received Cao Gua-ngjing, Vice-Governor of the People’s Government of the Hubei Province in China. During the visit, the parties discussed collaboration opportunities as part of China’s Belt and Road Initiative. In addition, new areas of growth that would be of interest and benefit to Chinese institutions based ...

SHARJAH / WAM The Sharjah FDI Office, known as Invest in Sharjah, has inked a Memorandum of Understanding (MoU) with the Italian Trade Commission (ITC) to expand bilateral investment prospects between Sharjah and Italy. Mohamed Juma Al Musharrkh, CEO of Invest in Sharjah, and Stefano Nigro, Director of the Foreign Investment Department at the ITC, signed the MoU. The new ...

Dubai / WAM The Dubai Department of Economic Development (DED) signed a partnership agreement with BooleanLAb, to establish an advanced market monitoring and inspection system for the emirate. The partnership aims to enhance efficiency of market supervision and inspection in Dubai by 25 percent, thus reinforcing the emirate’s business competitiveness. The agreement was signed by Mohammed Ali Rashid Lootah, CEO ...