News

Bloomberg The European Union is leaving open the option of a settlement with President Donald Trump over his controversial metal tariffs on the basis of US import quotas, according to officials from the bloc. An EU condition for such a deal would be that any US limits on steel and aluminum from the 28-nation bloc be set at levels no ...

Bloomberg Apple Inc. shares hit a record after Warren Buffett told CNBC he bought an additional 75 million shares of the iPhone maker in the first quarter. The Apple purchase, costing between $11 billion and $14 billion, adds to the almost 170 million shares that Buffett-run Berkshire Hathaway Inc. owned at the end of 2017, when it was already his ...

Bloomberg The US unemployment rate dipped below 4 percent for the first time in 17 years, but other details of the April jobs report kept any celebration in check. Despite reports of firms struggling to find skilled workers, average hourly earnings showed a deceleration, rising 0.1 percent from the prior month and 2.6 percent from a year earlier, both less ...

ABU DHABI / Emirates Business IBM announced the launch of its innovation and industry client center in Abu Dhabi. Inaugurated under the patronage of the Abu Dhabi Government, the center aims to fast track the digital transformation of both public and private organisations through advanced technologies in artificial intelligence, cloud, blockchain, security, analytics, IoT and quantum computing. The inauguration took ...

DUBAI / Emirates Business Emirates Islamic has won ‘best Islamic banking brand’ award from Global Brands Magazine, an independent leading brand publication that was established with the aim of honouring excellence in brand performance. The award reaffirms the bank’s excellence in innovation, improvement in customer service, and overall credentials as a leading Islamic bank in the UAE. Wasim Saifi, Deputy ...

DUBAI / Emirates Business Dubai’s trade for auto parts and accessories was valued at AED39.9 billion in 2017, a three percent increase over the previous year (AED38.7 billion), according to figures released by Dubai Customs on Wednesday. Imports of tyres, batteries, engine components and systems into Dubai were valued at AED22.35 billion last year, while the value of exports and ...

ABU DHABI / WAM Adnoc Logistics and Services, the shipping and services arm of the Abu Dhabi National Oil Company (Adnoc), has signed a contract with Borouge, a leading provider of value creating plastics solutions, to handle its Ruwais container terminal operations. The five-year contract, awarded through a competitive bidding process, is the first deal signed between Borouge and Adnoc ...

Dubai / WAM UAE-based Transguard Group on Wednesday released its annual figures for the financial year ending March 31, revealing another record, with revenue, profitand headcount increasing across the board. The figures, audited by PricewaterhouseCoopers, highlight the gro-up’s strength in the market, gene- rating revenue of more than AED2.3 billion, a 22% increase over the previous year and profit over ...

Abu Dhabi / Emirates Business A total of 217 space sector start-ups and entrepreneurs received funding exceeding $2.5 billion throughout 2017, with 14 having been founded in the Middle East, audiences heard at the final day of the Global Aerospace Summit in Abu Dhabi. Of the 217, 121 are based in the US, according to Mark Boggett, Managing Director of ...

Wellington / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, met Winston Peters, New Zealand’s Deputy Prime Minister and Minister of Foreign Affairs. During the meeting, the two sides discussed means to advance relations between the UAE and New Zealand, and to strengthen frameworks of cooperation across various sectors, including the trade ...