News

Bloomberg The European Union (EU) is preparing a new list of American goods to hit with protective measures if a mission to Washington fails to persuade US President Donald Trump not to raise levies on car imports. “If the US would impose these car tariffs that would be very unfortunate but we are preparing together with our member states a ...

Bloomberg Canada’s economy is proving increasingly robust in the second quarter, with inflation and retail sales coming in ahead of economists’ expectations. The consumer price index rose at an annual pace of 2.5% in June, the fastest year-over-year acceleration since 2012, Statistics Canada said. Economists in a Bloomberg survey anticipated a 2.3% increase. In a separate report, the agency said ...

Bloomberg For more than two years, a small and stealthy group of engineers within Google has been working on software that they hope will eventually replace Android, the world’s dominant mobile operating system. As the team grows, it will have to overcome some fierce internal debate about how the software will work. The project, known as Fuchsia, was created from ...

DUBAI / WAM Hindustan Infralog Private Limited (HIPL), a joint venture between DP World and National Investment and Infrastructure Fund (NIIF) announced that the transaction to acquire 90 percent stake in Continental Warehousing Corporation (Nhava Seva) Ltd (CWCNSL), in India has now closed. CWCNSL’s founders, the Reddy family, will retain the remaining 10 percent shareholding and will remain involved in ...

DUBAI / Emirates Business Mashreq, one of the leading financial institutions in the UAE, on Wednesday reported its financial results for the first half ending on June 30. The operating income is up by 3.7% and stands at AED 3.1 billion. Net profit for the first half stood at AED1.2 billion — a 5.2% increase YoY. The impairment allowance is ...

DUBAI / WAM Dubai developer Emaar has announced plans to build the Middle East’s largest Chinatown within the retail district of its mega development Dubai Creek Harbour. Emaar’s announcement comes ahead of the visit of Chinese President Xi Jinping to the UAE on Thursday and will further strengthen UAE-China relations. The retail precinct will occupy a central location within the ...

DUBAI / Emirates Buisness Sharjah Investment and Development Authority (Shurooq) signed an exclusive partnership agreement with Abu Dhabi’s Injazat Data Systems, the Middle East’s leading specialists in information technology and digital transformation, to introduce the latter’s services in the Emirate of Sharjah. Shurooq will promote Injazat — a wholly owned subsidiary of Mubadala, the investment arm of the Abu Dhabi ...

DUBAI / Emirates Business GE and Microsoft Corp announced an expanded partnership, bringing together operat- ional technology and information technology to eliminate hurdles industrial companies face in advancing digital transformation projects. GE Digital plans to standardise its Predix solutions on Microsoft Azure and will deeply integrate the Predix portfolio with Azure’s native cloud capabilities, including Azure IoT and Azure Data ...

ABU DHABI / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, said the visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to China in 2015 represented a vital step in the improving overall cooperation between the UAE and China, including in the economy ...

ABU DHABI / WAM The UAE has excellent diplomatic and economic relations with China which are based on mutual cooperation, and is also keen to promote regional and international communication, to help create a bright future and achieve global security, peace and stability. Political Relations The Founding Father of the UAE, late Sheikh Zayed bin Sultan Al Nahyan sent a ...