News

Bloomberg British consumers are worried about prospects for the economy with Brexit on the horizon, and that could spark a shift in behaviour that drags even more on growth. Households have driven expansion for more than a year, but only because they saved less to keep up spending during 2017’s inflation surge. They may be less willing to do so ...

Bloomberg Mexican businessmen aren’t breaking any laws when they ask their employees to not vote for a certain candidate, according to Lorenzo Cordova, head of Mexico’s electoral regulator. If and when any of these activities turn illegal, the National Electoral Institute will act accordingly, the newspaper Reforma reported, citing remarks by Cordova. As long as no laws are broken, their ...

Bloomberg Auto sales were supposed to slow again this year. But with the US economy chugging along, car shoppers keep strolling into showrooms. The pickup in hiring and President Donald Trump’s tax cuts have helped keep new-vehicle demand humming. Almost every automaker’s May results beat analysts’ estimates, and several posted increases, led by Fiat Chrysler Automobiles NV’s 11 percent jump. ...

YEMEN/ WAM As many as 36 members of the Iranian-backed Houthi militias including their leader were killed during confrontations with the Yemeni National Resistance Forces on different fronts in Yemen’s Red Sea Coast. The confrontations between the Yemeni Resistance Forces and the Houthi militias centered in the Taif, Al Husayniyah, and Tahita areas. The Resistance Forces were able to clear ...

Abu Dhabi / WAM Maqta Gateway, an Abu Dhabi Ports subsidiary, is the first Abu Dhabi entity to develop and launch its own blockchain technology, named Silsal. It will combine blockchain technology and unique digital user identities to provide a seamless and secure link between stakeholders across the trade community. Blockchain technology acts as an open digital ledger that can ...

AJMAN / WAM The strategic and dynamic location of the Ajman Free Zone (AFZ) plays a significant role in driving the commercial and industrial sectors in the emirate, in particular, and in the UAE, in general, with the AFZ management stepping up efforts to maintain its investment-conducive environment as a leading business hub in the region. The number of companies ...

DUBAI / WAM Dubai Mercantile Exchange (DME), the premier international energy futures and commodities exchange in the Middle East, reported a new exchange-wide open interest record of 69,183 lots on May 31. This total is equivalent to almost 69.2 million barrels of crude oil. The latest figure surpasses the previous open interest record of 68,470 lots, which was set on ...

DUBAI / WAM The Logistics District at Dubai South has launched Masary, a new smart electronic system that reduces the transit time of goods and vehicles. The new system is considered the first of its kind in the region and will positively impact the traffic of goods and vehicles that move through the district. The Masary system is part of ...

OTTAWA / WAM The UAE Minister of Economy, Sultan bin Saeed Al Mansouri, has met with the Canadian Minister of Transport, Marc Garneau, and discussed ways to develop joint cooperation in the air transport field and reviewed the offer made by the Canadian side to increase the number of direct flights between the two countries. During the meeting, Al Mansouri ...

ABU DHABI / WAM The Emirates Red Crescent (ERC), rescue teams in Yemen were among the first on the ground to help in the aftermath of Cyclone Mekunu, which hit the Yemeni island of Socotra in May, by initiating immediate recovery work and providing food and relief assistance, as well as reconstructing and reopening roads and restoring power supply networks. ...