News

Bloomberg Judging by some big boosts to US tracking forecasts following April merchandise-trade data and revised first-quarter growth, economists have turned decidedly more bullish about a pickup from the slow patch in early 2018. Analysts at Morgan Stanley raised their projection for second-quarter gross domestic product growth to a 3.3 percent annualised rate from 2.5 percent, while Macroeconomic Advisers by ...

Bloomberg Europe’s biggest debt collector, Intrum AB, says it doesn’t see the political turmoil in Italy hurting its business. “The way things look today, and” given “what we have on our books, we think that is very good debt,” said Louise Bergstrom, head of investor relations at the Stockholm-based company. Intrum, which operates in 24 countries, offers credit management services ...

Bloomberg Crispr Therapeutics AG plunged after the gene-editing company said a planned trial of its treatment to help people with sickle-cell disease was being put on hold by US regulators. Crispr is developing the therapy with Vertex Pharmaceuticals Inc., and the trial had yet to begin. The companies said in a statement that the Food and Drug Administration placed a ...

ABU DHABI / WAM On the occasion of the Year of Zayed 2018, the Department of Economic Development (DED) in Abu Dhabi has declared that it is exempting the establishments whose licences have expired for more than 24 months and who have applied for renewal, liquidation or cancellation of trade licence from paying all delayed and accumulated fees. Khalifa Bin ...

DUBAI / WAM Dubai Aerospace Enterprise, DAE, announced on Wednesday that its leasing division DAE Capital has recently signed three agreements to sell 16 aircraft with a total market value of nearly $900 million (AED3.3bn). The aircraft covered by these agreements include Boeing 737 and Airbus A320, A330, and A350 family aircraft, have an average age of two years and ...

GENEVA / WAM The UAE and Afghanistan have signed an MoU in the area of labour, on the sidelines of the 107th International Labour Conference in Geneva, Switzerland. The MoU was signed by Nasser bin Thani Al Hamli, Minister of Human Resources and Emiratisation, and Faizullah Zaki Minister of labour, social affair, Martyrs and disabled of Afghanistan. Al Hamli stated ...

DUBAI / WAM One of UPS’s 747 jumbo jets dedicated for long-haul international use is sporting a modified paint scheme highlighting the company’s role as official logistics partner for Expo 2020 Dubai. UPS has only modified the livery of an aircraft four other times in the airline’s 30-year history. Each of those times signifies a major news event – this ...

GENEVA / WAM To connect the as yet unconnected around the world to the internet is only a first step towards ensuring that all societies participate in an increasingly digital world economy. Best-connected users benefit from internet capacity that is 200 times greater than that of the worst-connected in parts of Africa and Asia. Those left behind will not benefit ...

ABU DHABI / WAM As the Saudi ICT market tops SAR 127 billion ($33.87 billion) , cloud investment will fast-track Saudi Vision 2030 goals and Smart Cities growth, according to the newly-appointed MD of Saudi Arabia, SAP. Cloud investment is gathering momentum, with Saudi organisations increasing software spend by 5.5 percent, increasing the Saudi ICT market to SAR 127 billion, ...

MONTREAL / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, has affirmed UAE’s keenness to enhance joint cooperation with international companies like CAE in order to exchange experiences and achieve mutual benefits that lead to the development of the aviation sector in both countries. He made his remarks during his visit to ...