News

Bloomberg Investors are worried that political upheaval in Italy will derail euro-area economic growth. Concerns over the new populist government’s euro-skeptic tendencies and budget-busting spending plans prompted a slide in sentiment among financial-market participants, according to a survey by Sentix. Expectations for the euro-area economy dropped to the lowest since August 2012, when the region was embroiled in a debt ...

Bloomberg Norway’s $1 trillion wealth fund could face stricter limits on coal investments down the road, but a previously united push by the opposition to make it happen is showing cracks. The opposition, led by the Labor Party, instructed the minority government to review the restrictions on coal and consider a further tightening. Yet that fell short of earlier calls ...

Bloomberg US consumer spending rose in April by the most in five months and inflation held at the Federal Reserve’s target, adding to signs of solid economic growth that support the central bank’s plan for gradual interest-rate hikes. Purchases, which account for about 70 percent of the economy, increased 0.6 percent from the prior month, topping forecasts, after a 0.5 ...

ABU DHABI / WAM First Abu Dhabi Bank (FAB) appointed Paul Hartwell as Chief Executive Officer (CEO) of the bank’s operations in the United Kingdom, subject to regulatory approvals. Paul Hartwell joins FAB with over 30 years of experience in corporate banking, operations and risk. Most recently, he was the CEO of British Arab Commercial Bank. Abdulhamid Saeed, Group CEO ...

Bloomberg All commitments made so far in talks with the US over trade will be withdrawn if President Donald Trump carries out his threat to impose tariffs, China said. While both sides reported some progress in discussions this weekend about how to reduce China’s $375 billion goods-trade surplus with the US, Trump’s revival last week of a plan to slap ...

ABU DHABI / WAM Etihad Airways has announced the introduction of a new scheduled service linking Abu Dhabi, and Barcelona, effective from November 21. The route will initially be operated five times a week by a two-class Airbus A330-200 before becoming a daily operation from March 31, 2019. Barcelona will become the second city in Spain served by Etihad Airways, ...

ABU DHABI / WAM Tawazun Economic Council and Abu Dhabi Polytechnic, which is managed by the Institute of Applied Technology, have signed a five-year Memorandum of Understanding, with the aim of enhancing cooperation in training and developing the skills of Emirati youth in technical and technological fields. The MoU was signed in Abu Dhabi by Matar Ali Al Romaithi, Chief ...

DUBAI / WAM Mashreq Bank, in collaboration with Waypoint Systems FZCO, announced the launch of Poynt Smart Terminals in the United Arab Emirates. The launch marks the UAE’s leading financial institution’s inaugural introduction of smart payment terminals to merchants in the region. The Poynt Smart Terminal offers an exciting range of features for retailers; it is equipped to accept a ...

ABU DHABI / WAM On Monday, the UAE will celebrate the annual Zayed Humanitarian Work Day on 19th Ramadan, which will coincide with the anniversary of the death of the late Sheikh Zayed bin Sultan Al Nahyan. This year’s celebrations will witness the launch of important humanitarian and charity initiatives, through thousands of government and community events organised by public, ...

Abu Dhabi / Emirates Business Abu Dhabi Airports announced on Sunday that it will be taking part in the 142nd IATA Slots Conference in Vancouver, Canada to open and enhance links within the aviation industry. The company will be joining Abu Dhabi’s Department of Culture & Tourism (DCT) and the Abu Dhabi National Oil Company (Adnoc). Set to run from ...