News

Bloomberg Denmark is edging closer to a public sector strike that has the potential of wiping out most of the country’s economic growth. Employers have already warned some 450,000 employees—more than half of the total—not to turn up for work on April 10 unless a protracted dispute over pay is resolved. Helge Pedersen, chief economist at Nordea, the Nordic’s largest ...

Bloomberg Broadcom Ltd formally abandoned its attempt to acquire rival chipmaker Qualcomm Inc. after US President Donald Trump blocked the deal citing national security risks. “Although we are disappointed with this outcome, Broadcom will comply,” the company said, bringing to an official end to a months-long battle to land the tech industry’s biggest ever deal. Singapore-based Broadcom said it will ...

ABU DHABI / WAM The total earnings of commercial and Islamic banks in the Emirate of Abu Dhabi surged to AED30.83 billion in 2017, according to figures released by the Statistics Centre-Abu Dhabi. The total earnings of commercial banks headquartered in the capital reached AED25.53 billion by the end of 2017, accounting for 82.8 percent of the total earnings accrued, ...

ABU DHABI / WAM Khalifa Fund for Enterprise Development (KFED) hosted a forum on ‘Strategic Alignments – Connections 2018’ to promote domestic Small and Medium-sized Enterprises (SMEs) and support their growth, and implement innovative plans to help foster an entrepreneurial spirit in the country. The forum brought together top-level officials from federal and local entities within the legislation and banking ...

ABU DHABI / WAM The United Arab Emirates and the Republic of Sudan enjoy long-standing ties of cooperation and strategic bilateral relations, built on joint coordination and economic and development partnerships, that have contributed to the progress and prosperity of Sudan. Thanks to the leadership of President His Highness Sheikh Khalifa bin Zayed Al Nahyan and the directives of His ...

ABU DHABI / WAM The Federal Tax Authority (FTA) has asserted that all businesses subject to Value Added Tax (VAT) and Excise Tax must display prices of goods and services inclusive of tax in order to avoid administrative penalties. The authority called on consumers and service recipients in the UAE to be aware of their rights, noting that prices displayed ...

DUBAI / Reuters Saudi Arabia is increasingly looking to just float oil giant Saudi Aramco locally as plans for an initial public offering (IPO) on an international exchange such as London or New York hang in the balance, sources close to the process said. The kingdom is counting on being awarded emerging market status by index complier MSCI in June ...

ABU DHABI / WAM National Central Cooling Company (Tabreed) announced the acquisition from Aldar Properties (Aldar) of 50% of the shares in S&T Cool District Cooling Company (S&T), a major district cooling provider on Reem Island in Abu Dhabi. Tabreed will own 100% of the company following completion of the transaction, subject to relevant regulatory approvals. S&T’s district cooling plant ...

Amman / WAM King Abdullah II of Jordan has received HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, as part of his visit to Jordan, in the presence of Ayman Al Safadi, Jordanian Minister of Foreign Affairs and Expatriates. Sheikh Abdullah conveyed the greetings of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, ...

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, and Russian President Vladimir Putin, in a telephone conversation discussed friendship and cooperation relations between the two countries. The two sides reviewed bilateral relations and ways to further develop them in the interest of ...