News

Bloomberg Facebook Inc said it removed 559 pages and 251 accounts that were coordinating the spread of misinformation and spam in the US — and most originated from within the country. The social network, which has been under fire for facilitating foreign interference in US politics, has found that domestic actors have also been creating fake pages and accounts to ...

Bloomberg US consumer sentiment unexpectedly dipped in October to a still-elevated level amid slightly dimmer views of personal finances and the long-term economic outlook, a University of Michigan report showed. This week’s sharp drop in US stocks overlapped with survey interviews by only one evening, “having virtually no influence on the early October data,” according to the report. The poll ...

Bloomberg A Sears liquidation would cost its real estate spinoff 47 percent of its annual rent income, or about $84 million in cash flow, according to regulatory filings. Seritage Growth Properties, a real estate investment trust, was created in 2015 by Sears Chief Executive Officer Eddie Lampert to be the property owner and landlord for select locations of Sears and ...

Bloomberg A series of major scandals in Denmark is testing its status as one of the world’s least corrupt nations, with Transparency International warning that its image may now be at risk. The Scandinavian nation known for its love of bikes, equality and welfare has more recently been associated with money laundering, tax evasion and embezzlement. The development should force ...

Bloomberg Growth in UK advertising budgets has slowed to its weakest in 2 1/2 years as Britain struggles to define its future relationship with the European Union. The proportion of companies increasing their ad spending exceeded those scaling it back by 2.5 percentage points in the third quarter of 2018, down from a 6.5 point margin in the second quarter, ...

NEW YORK / WAM The United Arab Emirates and the United Nations Development Programme (UNDP) have announced a new Memorandum of Understanding that will allow UAE nationals to join the agency as full-time staff under a Junior Professional Officer (JPO) Programme. The agreement was signed by Reem Al Hashemy, Minister of State for International Cooperation, and Achim Steiner, Administrator of ...

DUBAI / WAM The Dubai Land Department (DLD) and the Telecommunications Regulatory Authority (TRA) signed a mem- orandum of understanding (MoU) during the Gitex Technology Week. The agreement aims to regulate real estate advertisements by setting an operational framework in the control departments, thus reducing misleading real estate advertisements. Hamad Obaid Al Mansoori, Director-General of the TRA, said, “The Authority ...

ABU DHABI / Emirates Business A predicted boom in flexible working could contribute $10.04 trillion to the global economy by 2030, according to the first comprehensive socio-economic study of changing workplace practices. The analysis, commissioned by Regus and conducted by independent economists, studied 16 key countries to delve into the state of flexible working both now and through 2030. Regus ...

DUBAI / Emirates Business Commercial Bank of Dubai (CBD) reported its financial results for the first nine months of 2018. The bank’s year to date net profit of AED843 million was 26.8% higher on the back of a 1.5% increase in operating income and a 5.3% decline in operating expenses; impairment allowances meanwhile decreased by 17.2%. Operating income for the ...

Abu Dhabi / WAM First Abu Dhabi Bank (FAB) was named “Safest Bank in Middle East” for second year at Global Finance magazine’s Best Banks Awards. Andre Sayegh, FAB Deputy Group CEO and Head of Corporate and Investment Banking, said, “We are very proud to be receiving the Safest Bank in the Middle East Award for the second year in ...