News

Bloomberg Consumers drove the US economy to better-than-expected growth in the third quarter, but a steep slowdown in business spending raised concerns about whether the strength in the expansion is sustainable. The 3.5 percent annualised gain in gross domestic product, following 4.2 percent, marked the best back-to-back quarters since 2014, according to Commerce Department report. The rise in consumer spending, ...

Bloomberg Three former British traders were found not guilty of using an online chatroom to fix prices in the $5.1 trillion-a-day foreign exchange market. A federal jury in New York rejected the government’s claim that Richard Usher, Rohan Ramchandani and Christopher Ashton, a group known as “The Cartel,” rigged the market from 2007 to 2013 by coordinating trades and manipulating ...

Bloomberg Twitter Inc. topped estimates for earnings and revenue in the third quarter amid higher spending from advertisers, marking a much-needed boost for the social-networking site after months of scrutiny from lawmakers and criticism about fake or offensive accounts. The shares rose in early trading. Monthly active users averaged 326 million, San Francisco-based Twitter said in a statement. That’s a ...

Bloomberg Swedes became more pessimistic as the central bank prepares to raise interest rates for the first time in seven years and politicians struggle to form a government more than a month after the nation’s inconclusive election. The economic tendency indicator fell to 108.0 in October from 111.2 in September, the National Institute of Economic Research said. Analysts surveyed by ...

ABU DHABI / WAM Tedros Adhanom Ghebreyesus, Director-General of the World Health Organisation (WHO), in a message on World Polio Day, has thanked His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, for his continuous efforts to achieve polio-free world. HH Sheikh Mohamed bin Zayed in a ...

Emirates Business Hyperloop Transportation Technologies announced appointment of leading design and engineering firm, Dar Al-Handasah (founding member of the Dar Group), to assist in bringing the Abu Dhabi commercial system to reality. Dar Al-Handasah joins the project as design lead and as the latest investor in HyperloopTT. Construction of the Hyperloop commercial track as well as HyperloopTT’s XO Square Innovation ...

DUBAI / Emirates Business Two million Indian farmers will benefit from the India-UAE food corridor project, which will also create an additional 200,000 jobs across India due to cumulative investments of more than $5 billion (AED18.35 billion) by the UAE in the next three years, said His Excellency Abdulla Ahmed Al Saleh, Undersecretary for Foreign Trade and Industry at the ...

DUBAI / WAM The Ministry of Climate Change and Environment (MOCCAE) on Wednesday launched ‘UAE Green Dashboard’, an online open data platform that allows the public to access statistical data assessments of the country’s overall progress in its transition into a green economy. Dr Thani bin Ahmed Al-Zeyoudi, Minister of Climate Change and Environment, announced the initiative during the opening ...

DUBAI / WAM Enoc Group announced that construction of its 16.2km jet fuel pipeline linking its storage terminals in Jebel Ali to Al Maktoum International Airport in Dubai South has exceeded 20 percent. The announcement was made during 20th Water, Energy, Tech- nology and Environment Exhibition (WETEX 2018). The pipeline is scheduled to be operational in 2020 Q1, in time ...

Abu Dhabi / WAM Abu Dhabi National Exhibitions Company (Adnec) announced launch of online chatbot platform ‘Jawab,’ which is designed, developed to effectively respond directly and automatically to enquir- ies from exhibitors, organisers and visitors on all event-related aspects, including diverse range of services provided by Adnec. With this launch, Adnec becomes the first venue within the exhibitions and conferences ...