News

Bloomberg The European Union distanced itself from the idea of reviving talks on a broad free-trade agreement with the US as part of EU efforts to gain a permanent exemption from President Donald Trump’s controversial import tariffs on steel and aluminum. A day after US Commerce Secretary Wilbur Ross said the Trump administration is willing to restart negotiations on the ...

Bloomberg Tesla Inc. is recalling all Model S cars built before April 2016 to retrofit a power-steering component as the company caps its worst one-month performance in the stock market since December 2010. The issue, which the carmaker said has not led to any accidents or injuries, impacts only the flagship Model S sedan, not the Model X sport utility ...

Bloomberg Telegram Group Inc., an encrypted messaging app seeking to create its own cryptocurrency, has increased the proceeds from the world’s largest initial offering to $1.7 billion, according to a regulatory filing. Telegram raised $850 million from 94 investors in March in addition to $850 million it gained in February, and “may pursue one or more subsequent offerings,” the British ...

Bloomberg Facebook Inc. pays female staff in Britain just 0.8 percent less on average than male employees, but womens’ bonuses are almost 40 percent lower. The mean average disparity in pay at Facebook is an improvement compared to Google’s UK arm, where women are paid on average 17 percent less than men. Google’s average bonus for female staff is 43 ...

HARVARD / WAM The International Conference on Humanitarian Crises, which was held at Harvard Club of Boston, has hailed the UAE’s pioneering role in humanitarian field. The participants praised HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union, President of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation, for her role ...

Abu Dhabi / WAM Following the launch of First Abu Dhabi Bank (FAB), First Gulf Properties, a wholly-owned subsidiary of the bank, has changed its name to ‘FAB Properties’. The real estate service provider, which specialises in end-to-end property solutions, has launched a new logo, inspired by the look and feel of the FAB brand identity. FAB Properties’ mission and ...

SHARJAH / WAM Gulftainer, a privately-owned independent port operator, headquartered in the UAE, has announced that its subsidiary GT USA has inked an agreement on terms with the State of Delaware, USA, which would grant GT USA exclusive rights to operate and develop the Port of Wilmington for 50 years. Terms of the agreement are to be formally approved by ...

NEW YORK / WAM United Nations Secretary-General Antonio Guterres has called for an independent and transparent investigation into clashes at the Gaza fence between Palestinians participating in the ‘Great Return March’ and Israeli security forces which resulted in at least 15 deaths and a large number of injured. The UN chief’s call for a probe came as the Security Council ...

DUBAI / WAM The Dubai Water and Electricity Authority’s (DEWA) Managing Director and CEO met with a UNDP representative to discuss cooperation. Saeed Mohammed Al Tayer, who is also the Chairman of the World Green Economy Organisation (WGEO) welcomed Mourad Wahba, Director of the UNDP Regional Bureau for Arab States. The meeting was attended by Waleed Salman, Vice Chairman of ...

DUBAI / WAM The Port, Customs and Free Zone Corporation (PCFC) launched its one-of-a-kind ‘Dhowber’ project to strengthen the UAE and Dubai’s leading global position in the maritime transport industry, and help shape the sector’s future. Sultan Ahmed bin Sulayem, Chairman and CEO of DP World, Chairman of PCFC, asserted that the new project will boost Dubai’s dhow trade competitiveness ...