News

Bloomberg Alphabet’s Google, Facebook Inc., Twitter Inc. and other tech and advertising companies have committed to implementing new measures and investing in new technologies to fight the spread of hoax news online in Europe, according to a draft of the agreement. The group, an ad-hoc alliance that includes Mozilla Corp. and advertising business organisations, is set to present its code ...

Bloomberg A global tariff tit-for-tat could boost China’s $12 trillion economy and hurt the US expansion, according to European Central Bank research. The conclusions challenge President Donald Trump’s assertions that trade wars are “good, and easy to win.” They also counter the argument that China has more to lose from a spat with its main trading partner because of its ...

Bloomberg Daimler AG accelerated a management transition, naming development head Ola Kallenius to replace CEO Dieter Zetsche ahead of schedule as the German carmaker confronts jarring changes in the automotive industry. Kallenius, the first non-German to take the helm of Daimler, will become CEO in 2019, Daimler said in a statement. The 49-year-old Swede was already the heir apparent to ...

Bloomberg Tesla Inc.’s human resources boss emailed with Chief Executive Officer Elon Musk about offering employees promotions that could prevent them from continuing their advocacy for unionisation. “I saw it as positive they get involved in something they were criticising,” Gaby Toledano, who joined Tesla as “chief people officer” in May 2017 testified in a National Labor Relations Board hearing ...

Abu Dhabi / WAM The UAE has created, through its support for relevant United Nations agencies and organisations, a unique model of serving the UN’s goals and its efforts to promote diplomatic action, through specialist Emirati agencies and organisations. During its participation in the 73rd session of the UN General Assembly, the UAE confirmed its support for UN and highlighted ...

ABU DHABI / WAM The Industrial Producer Price Index related to manufacturing in Abu Dhabi rose by 80.6% during second quarter 2018, a 13.4% increase compared to 71% during the same period in 2017, according to statistics issued on Tuesday by Abu Dhabi Statistics Centre, which also highlighted a 4.2% increase in the index compared to the first quarter of ...

HADRAMAUT / WAM The Emirates Red Crescent (ERC), continues to provide relief aid to eligible households in Al-Reida and Qusayr districts of the Hadramaut governorate. Teams from the UAE’s premier aid arm have recently distributed 1,000 food baskets containing basic necessities to some 5,000 individuals in Qusayr. Since the beginning of 2018, marked as the ‘Year of Zayed’, more than ...

Bloomberg India and Pakistan’s bitter rivalry is costing them $35 billion worth of annual trade, the World Bank said in a report. Someone might want to tell the two countries’ leaders — both of whom want to boost trade to battle widespread poverty. The World Bank called for South Asia, the world’s least economically-integrated region, to start cooperating instead of ...

ABU DHABI / WAM Abu Dhabi Global Market (ADGM), has announced the signing of a strategic new Memorandum of Understanding (MoU), with Abu Dhabi Smart Solutions and Services Authority (Adsssa). The new partnership is aimed at exploring innovative initiatives and projects that can greatly contribute towards the development of the financial freezone on Al Maryah Island and reinforce efforts to ...

Dubai / WAM Nakheel awarded a contract worth AED35 million ($9.5 million) for the construction of a sports, health and leisure hub at Dubai’s Jumeirah Park community. Featuring an Olympic-size swimming pool, one of Dubai’s biggest gyms, a Clubhouse, spa and medical centre, the new destination will combine first-class sports facilities with a range of restaurants, cafes, shops and services ...