News

Bloomberg Atos SE agreed to buy Syntel Inc. for about $3.4 billion in a cash deal that would give the French computer-services company access to large US financial customers including American Express Co. and State Street Corp. Bezons, France-based Atos will pay $41 a share for the US information technology firm, the companies said in a joint statement. The per-share ...

Bloomberg The UK Treasury began its search for a manager to oversee a new 400 million-pound ($526 million) fund that will encourage drivers to switch to electric vehicles (EV) by building charging infrastructure. The Charging Infrastructure Investment Fund manager will be tasked with raising 200 million pounds from the private sector to match the same amount of money set aside ...

Bloomberg Tesla Inc. asked some suppliers to return a portion of its payments to them in an attempt by the electric-car maker to turn a profit, the Wall Street Journal reported, citing a memo sent to a supplier last week. The company, whose eroding cash position has alarmed investors, requested a “meaningful” amount of payments made since 2016 to be ...

Bloomberg American manufacturers remain competitive and lower goods exports aren’t solely to blame for a widening US trade deficit and fewer manufacturing jobs, according to analysis by Goldman Sachs Group Inc. It sees three key factors explaining the burgeoning trade gap and fall in production jobs: Unit labor costs in manufacturing have grown slowly, reflecting a surge in productivity growth ...

HODEIDAH / WAM The Director of the UN Office for the Coordination of Humanitarian Affairs (OCHA) in Aden, has praised the UAE’s humanitarian and relief efforts through the Emirates Red Crescent (ERC) in Hodeidah Governorate and the Red Sea Coast of Yemen. This came during a meeting with Saeed Al Kaabi, UAE Humanitarian Operations Director for Yemen, where the UN ...

Abu Dhabi / WAM HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Chairman of the Executive Council of Abu Dhabi, issued a Resolution restructuring the Board of Directors of the Environment Agency — Abu Dhabi (EAD) under the chairmanship of HH Sheikh Hamdan bin Zayed Al ...

Bloomberg Two United Arab Emirates airlines have held talks with South African Airways about a partnership that it says is needed to revive its business, City Press reported, citing the UAE ambassador to South Africa. Talks between Emirates Airline and SAA, which have been going on for some months, are being facilitated by the UAE’s embassy in Pretoria, the Johannesburg-based ...

RAS AL KHAIMAH / WAM The Ras al-Khaimah Tourism Development Authority (RAKTDA) on Sunday announced a 14 percent increase in international visitors during the first six months of the year. These figures are larger than United Nations World Tourism Organisation (UNWTO) forecast of 4 percent tourism growth in the Middle East in H1 and demonstrates the ongoing strength of Ras ...

SHARJAH / WAM United Arab Bank (UAB) reported net profits for the first six months of 2018 at AED81 million, representing an uplift of 46 percent compared with the same period last year, primarily driven by growth in ‘core’ income and reduction in provision charges following a transition to a lower risk business model. Total income reached AED341 million, with ...

ABU DHABI / WAM The Urban Planning and Municipalities Department has laun-ched 13 new digital services as part of its efforts to participate in the digitalisation drive and the modern vision of our leaders, who are keen to improve the quality of services and bringing happiness to community members. The move also responds to the needs of sustainable development and ...