News

Bloomberg Dropbox Inc., the file-sharing company that’s been privately valued at $10 billion, filed for a US initial public offering, saying it was at scale and capable of moving fast. The company filed with an offering size of $500 million, according to a filing with the US Securities and Exchange Commission. That amount is a placeholder and is likely to ...

Bloomberg YouTube is hitting the pause button on its Hollywood expansion. As Netflix Inc. and Amazon.com Inc. pour ever-larger sums into TV and movie production, Google is holding spending at current levels for its YouTube Red streaming service for the next two years, people with knowledge of the matter said. That’s leading producers to question the company’s strategy. Google often ...

ABU DHABI / WAM The UAE-based banks’ total assets surged to $734 billion (AED2.693 trillion) at the end of 2017 from AED2.642 trillion by the end of Q3 in the same year, continuing to be on top of GCC-based banks in terms of assets for the third year running. The resilient solvency of UAE banks comes on the back of ...

Abu Dhabi / WAM The collapse in global oil prices between June 2014 and January 2016 led to nearly one trillion US dollars in investment being frozen or discontinued with “many hundreds of thousands of jobs” being lost throughout the industry, according to UAE Minister of Energy and Industry, Suhail bin Mohammed Faraj Faris Al Mazrouei. Now it is time ...

Abu Dhabi / WAM Hosted by the Abu Dhabi Sustainability Group (ADSG), the fourth annual Abu Dhabi Sustainable Business Leadership Forum has started in the capital, bringing together some of the greatest names and companies at the forefront of sustainable business across the region. Up to 200 of the region’s business leaders participated in a range of workshops, meetings and ...

Abu Dhabi / Emirates Business HE Engr Sultan bin Saeed Al Mansoori, UAE Minister of Economy, successfully launched a new guide entitled, ‘The Innovative Guide for Companies in the UAE,’ which was done by the Ministry of Economy in cooperation with the National Research Council (CNR) – Research Institute on the Sustainable economic growth. The new guide was developed and ...

Abu Dhabi / WAM The UAE Ministry of Energy and Industry and General Electric (GE) Power have organised a workshop to discuss best practices in promoting power plant flexibility and sustainability to help meet evolving energy needs in the country. The workshop was held in Abu Dhabi and attended by senior officials of the Ministry, leading power plant operators and ...

Abu Dhabi / WAM Abu Dhabi and Singapore have signed nine Memorandum of Understanding (MoUs) in power and water sector, to facilitate development of joint projects in knowledge sharing, joint research and technology transfer in power and water sectors, and assist in setting up a World Class Capability Development Centre in Abu Dhabi. Awaidha Murshed Al Marar, Chairman Abu Dhabi’s ...

Fujairah / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has offered his condolences to the family of martyr Sergeant Ali Khalifa Hashel Al Mesmari, who died while carrying out his duties as part of the Saudi-led Arab Coalition’s ‘Operation Restoring Hope’ in support of ...

Abu Dhabi / WAM Under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, HH Sheikh Hamed bin Zayed Al Nahyan, Chief of the Abu Dhabi Crown Prince’s Court, honoured the 33 authorities, institutions and companies that won the 16th edition of the Sheikh ...