News

Bloomberg The auto industry is warning that US sales declines, which have become routine over the past year, may continue thanks to the tariffs President Donald Trump plans to slap on steel and aluminum imports. Toyota Motor Corp., which plans to build a new $1.6 billion factory in Alabama with Mazda Motor Corp., said the administration’s decision will “adversely impact” ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said that the UAE under the leadership of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, prioritises the socio-economic stability of citizens and residents. His Highness’ comments came as he chaired the UAE Cabinet meeting in ...

DUBAI / WAM The Dubai Chamber of Commerce and Industry on Wednesday signed a memorandum of understanding (MoU) with the Bogota Chamber of Commerce on the sidelines of the Global Business Forum on Latin America 2018, which will pave the way for stronger investment and trade ties between Dubai and the city-region of Bogota, Colombia. The MoU was signed by ...

DUBAI / Reuters Dubai-based private equity firm Abraaj has suspended fundraising for a new $6 billion fund, sources familiar with the matter said, as the firm began a review of its business following a dispute with some of its investors in a healthcare fund. The fund had its first close of about $3 billion last year, but has paused fresh ...

ABU DHABI / AGENCIES Emirates Nuclear Energy Corp (ENEC), building the world’s largest single nuclear project, is testing operations of what could be the first reactor in the United Arab Emirates. The Barakah project of four plants in Abu Dhabi is more than 87 percent finished, with unit 1 being prepared and tested, ENEC said on Wednesday in an emailed ...

ABU DHABI / WAM Strata Manufacturing, the advanced composite aero-structures manufacturing facility wholly owned by Mubadala Investment Company, signed a mutual collaboration agreement with the University Leadership Council (ULC), the leading non-profit organisa-tion engaged in human capital enhancement in the UAE. The agreement creates an opportunity to foster joint educational and capacity building initiatives, bringing together the country’s top universities ...

DUBAI / WAM Dr Abdullah bin Mohammed Belhaif Al Nuaimi, Minister of Infrastructure Development, has laun- ched the first robot engineer in the world that operates on artificial intelligence (AI), while noting that the ministry will acquire an international patent, to benefit from the robot and support its organisational work. He stated that the robot engineer specialises in supporting the ...

Dubai / Emirates Business Smart Stores Expo, a trade show devoted to showcasing the latest trends and technologies shaping the future of retail, is back with its second staging slated September 4 – 6 at the Dubai International Exhibition and Convention Centre. Building upon the success of its launch in Abu Dhabi, the event comes at an opportune time given ...

DUBAI / WAM In line with the UAE Telecom Regulatory Authority’s (TRA) vision to bring 5G services in the country in 2018, du, from Emirates Integrated Telecommunications Company, on Wednesday announced it is actively working with Nokia to trial 3GPP standardised 5G New Radio non-standalone technology, and subsequently deploy live 5G sites in selected areas in the UAE. The trials ...

BARCELONA/ WAM Etisalat received ‘The Most Valuable Telecoms Brand’ in the Middle East and North Africa Region presented by Brand Finance, marking the company’s increase in brand value by 40 percent to $7.7billion, higher than any other telecom brand in the region and the only telecom provider to break the $7bn brand value mark in the region. Etisalat is the ...