News

Bloomberg The Chinese supplier of electric-vehicle batteries that’s planning a local factory with enough capacity to surpass the output of Tesla Inc. has set its sights further: Europe. Contemporary Amperex Technology Ltd. is close to picking one of three sites in the European Union for its first overseas plant, Chairman Zeng Yuqun said in an interview. The company is exploring ...

Bloomberg Brexit is beginning to weigh on London’s hotel market, according to Hilton Worldwide Holdings Inc., the second-biggest company in the global industry by rooms. “Now that negotiations are going on, and it’s becoming more real—at least in London—it does feel like there’s a little bit of trepidation,” Christopher Nassetta, chief executive officer of Hilton, said in an interview in ...

DUBAI / Emirates Business VisitBritain, the national tourism board for Britain, has partnered with Middle Eastern online travel platform tajawal on a joint marketing campaign targeting customers in the United Arab Emirates, Saudi Arabia and Kuwait market. The marketing campaign will feature a video series and is part of VisitBritain’s global campaign, “I Travel For…” which launched earlier this month, ...

DUBAI / WAM Emirates Steel, a subsidiary of the General Holding Corporation (SENAAT) on Monday announced its financial results for the year 2017. More than AED6.6 billion in revenues achieved in the year, an increase of 22 percent compared to AED5.4 billion in the previous year. A solid 12 Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) margin; delivered in ...

DUBAI / Reuters Dubai International Financial Centre (DIFC) said the number of new companies launching operations in the financial free zone rose in 2017. The DIFC aims to more than double the number of financial firms within the free zone to 1,000 at a time when several centres in the Middle East are vying for expansion. DIFC, the largest such ...

ABU DHABI / WAM The Cabinet has adopted the formation of the ‘UAE Council for Artificial Intelligence’ to ensure the implementation of these technologies in various sectors. The move aims to serve the UAE Government’s objectives, and improve the quality of life of citizens and residents in order to achieve the vision of the UAE 2021 and make the UAE ...

Dubai / Emirates Business Middle East and North Africa (MENA) IT spending is projected to reach $155 billion in 2018, a 3.4 percent increase from 2017, according to the latest forecast by Gartner, Inc. Gartner analysts are discussing key IT and business issues that are driving the evolution of digital business during the Gartner ymposium/ITxpo in Dubai. In 2018, the ...

ABU DHABI / WAM Tadweer launched a recycling auction on its website, which was developed to serve waste producers in the field, targeting waste management companies and recycling facilities. The service provides an electronic platform for recyclable waste producers to advertise and sell recyclable waste materials and promote reuse, which is a key principle and one of three main pillars ...

SHARJAH / WAM The Sharjah Foreign Direct Investment Office, Invest in Sharjah, has met with India’s leading industrialists, entrepreneurs and government officials during a tour of the sub-continent, participating in trade conferences and partnership summits to promote Sharjah’s vast investment opportunities. Investment Promotions Managers at Invest in Sharjah, Saif Alsuwaidi and Rajesh Kadam highlighted Sharjah’s current business ties with India ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, on Monday visited Bluewaters Island, the new man-made island developed by Meraas off the coast of the Jumeirah Beach Residence opposite to The Beach. His Highness reviewed the progress of the AED 6 billion Bluewaters project, which includes residential, ...