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Bloomberg Daimler AG could split its truck unit and passenger-car business into separate companies, but it’s not a necessity and won’t happen unless stockholders want it to. “It’s not so much an issue of management, it’s more of the shareholders, what they want to do,” Martin Daum, Chief Executive Officer of Daimler’s truck unit, said in an interview at the ...

JEDDAH / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince, Deputy Prime Minister, Minister of Defense of the Kingdom of Saudi Arabia and President of Saudi Council of Economic and Development Affairs chaired the first meeting ...

ABU DHABI / WAM Officials from the Department of Culture and Tourism — Abu Dhabi said the AED50 billion stimulus package, announced by HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supr-eme Commander of the UAE Armed Forces, will sharpen the emirate’s competitive edge. Mohamed Khalifa Al Mubarak, Chairman of the Department of Culture ...

Emirates Business Immensa Technology Labs (Immensa), the UAE’s leading Additive Manufacturing (AM or 3D printing) company, has submitted the first 3D printing related patent from a UAE-based company. The patent — an Immensa proprietary met-hod for the production of moulds for concrete and other aggregates utilising 3D printing — is an exclusive innovation that aims to revolutionise the way regional ...

Bloomberg Saudi Arabia, the world’s largest oil exporter, raised pricing on key crude grades for buyers in Asia to the highest since 2014 as demand builds in the country’s biggest market amid threats to rival suppliers. State-owned Saudi Arabian Oil Co. raised its official selling price for Arab Light crude for July shipment to Asia by 20 cents to $2.10 ...

DUBAI / Emirates Business Beijing Tai Cloud Technology, the first blockchain company in China’s new OTC market, has announced the launch of its UAE operations aimed to leverage opportunities of trading in blockchain technology. Tai Cloud is a pioneer in the research and application development of the blockchain technology system in the People’s Republic of China. The company established the ...

Bloomberg Global growth is set to slow over the next two years as central banks raise borrowing rates and US fiscal stimulus starts to fade, the World Bank said. The world economy will grow 3.1 percent this year and 3 percent in 2019, the development lender said in its latest Global Economic Prospects report. Both forecasts were unchanged from January, ...

Yemen / WAM The Arab Coalition forces in the Red Sea Coast of Yemen, have launched aerial strikes against the Iranian-backed Houthi militias east of Al Mesharie, Al Jarahi, Al Tahita, Al Hussainya and Zubaid, destroying their positions. The strikes and artillery shelling also targeted Houthi vehicles and reinforcements in several sites near the city of Zubaid, crippling Houthi military ...

DUBAI / WAM The Mohammed Bin Rashid Space Centre  announced that 95 out of the 4,022 applicants have been shortlisted for the UAE Astronaut Programme, part of the UAE National Space Programme. It aims to train and prepare a team of Emiratis to be sent to space for various scientific missions. The programme was announced by His Highness Sheikh Mohammed ...

JEDDAH / WAM Reem Al Hashimy, Minister of State for International Cooperation, and Ahmed Qattan, Saudi Minister of State for African Affairs, discussed the outstanding relations binding the UAE and Saudi Arabia as well as ways to further develop them to serve the interest of the two nations and their peoples. The meeting, which was attended by Sheikh Shakhbout Al ...