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Bloomberg President Donald Trump says his trade actions may cause “a little pain” in the short term, and a new study shows US agricultural workers could be hurt the most. The tariffs on $50 billion in Chinese imports that Trump has proposed, plus promised retaliatory duties by China, would reduce US gross domestic product by $2.9 billion and cost almost ...

Bloomberg Jan Koum’s exit from Facebook Inc. could prove costly. A speedy departure may prevent him from collecting as much as $1 billion in stock awards. The chief executive officer of messaging unit WhatsApp confirmed in a Facebook post that he was leaving the company. The announcement comes before the final three vesting dates of restricted stock unit awards tied ...

Bloomberg In the end, the fate of AT&T Inc.’s $85 billion merger with Time Warner Inc. will come down to he said versus he said. Lawyers for AT&T and the Justice Department clashed one last time at the close of a six-week trial over the proposed combination, a deal the government aims to stop. The judge overseeing the antitrust case ...

DUBAI / WAM Emaar Malls recorded a net profit of AED548 million ($149 million) during the first quarter of 2018, similar to the net profit of AED539 million ($147 million) in Q1 2017. Revenue for first three months of 2018 was AED1.038 billion ($283 million), 24 percent higher than Q1 2017 revenue of AED836 million ($228 million), primarily due to ...

ABU DHABI / WAM Mubadala Investment Company of Abu Dhabi on Sunday announced its full-year 2017 financial and operational highlights. According to a statement, revenue totalled AED165.6 billion compared to AED145.4 billion in 2016, driven by the strong performance of all four global platforms, with major contributions from upstream and integrated, petrochemicals and the semiconductor business sectors. Group Chief Executive ...

ABU DHABI / WAM Emirates Global Aluminium (EGA) signed a 15-year agreement with LD Ports and Logistics on Sunday, a subsidiary of Louis Dreyfus Armateurs, for the trans-shipment of bauxite in the Republic of Guinea. Also, Louis Dreyfus Armateurs and Abu Dhabi Ports separately signed an agreement to form a joint venture company to work together to carry out the ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has discussed developing bilateral ties between the UAE and Austria with the Austrian Chancellor, Sebastian Kurz. During official talks held at the Presidential Palace in Abu Dhabi on Sunday, the two sides reviewed cooperation ...

Hanover / WAM Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry, met Li Yong, Director-General of the United Nations Industrial Development Organisation (UNIDO), on the sidelines of Hannover MESSE 2018 exhibition. During the meeting, the two sides, who chaired together the Global Manufacturing and Industrialisation Summit (GMIS), signed a joint communique on the summit’s strategies and ...

Abu Dhabi / WAM The Government of Abu Dhabi and the State of Queensland, Australia, signed on Sunday a cooperation agreement with the ultimate objective of reinforcing the strategic partnership between them in a number of economic and developmental areas. Khalifa Bin Salem Al Mansouri, the DED’s Undersecretary, and Jackie Trad, MP for the South Brisbane Seat and Queensland Deputy ...

Dubai / WAM Saeed Mohammed Al Tayer, Managing Director and CEO of the Dubai Electricity and Water Authority (DEWA), received a delegation from Cisco Systems, and IT and networking company. The visit underpins DEWA’s collaboration with international companies to share best practices and share knowledge in the information technology sector. The delegation included Chris Dedicoat, Executive Vice President, Worldwide Sales, ...