News

Bloomberg The US Justice Department is fighting AT&T Inc.’s search for evidence that President Donald Trump is behind the agency’s antitrust challenge to the takeover of Time Warner Inc. Trump’s criticism of Time Warner’s CNN doesn’t justify AT&T’s “fishing expedition” for communications between the White House and the Justice Department, government lawyer Craig Conrath told US District Court Judge Richard ...

Bloomberg Airbnb Inc. cafeteria workers are joining the United Auto Workers, a new twist in the home-rental company’s troubled relationship with organised labour. The United Auto Workers won a union contract covering nearly 150 cafeteria workers at four Airbnb facilities. It’s the latest development in a unionization trend among tech companies’ sub-contracted staff. “Every worker should be treated with dignity ...

Bloomberg Get ready for what could be another record year for corporate borrowing. The US tax overhaul is freeing up cash for companies and the Federal Reserve is hiking rates, but chief financial officers are still eager to borrow, UBS strategists wrote. The Swiss bank and Wells Fargo both expect businesses to sell as much US investment-grade and junk bond ...

KUWAIT / WAM Dr Anwar bin Mohammed Gargash, Minister of State for Foreign Affairs, announced the UAE’s offer to provide deve- lopment aid worth $500 million, to assist international efforts to reconstruct Iraq. During his speech as head of the UAE delegation at the ‘Kuwait International Conference for the Reconstruction of Iraq,’ he explained that the support includes $250 million ...

Abu Dhabi / WAM Abu Dhabi National Exhibitions Company (Adnec) on Wednesday announced that the value of its direct and indirect contribution to Abu Dhabi’s economy has increased by 26.66 percent in 2017 to reach AED3.89 billion, compared to AED3 billion in 2016. The company shared its 2017 results at a press conference at the Abu Dhabi National Exhibition Centre, ...

DUBAI / WAM Construction is underway on The St. Regis Beach Club on Dubai’s Palm Jumeirah, confirming yet another top-flight dining and leisure destination for the world-famous island, master developer Nakheel announced. The company has awarded a contract worth AED79.7 million to Ghantoot Gulf Contracting to build the exclusive beachfront facility, which will offer unrivalled restaurants, lifestyle and fitness venues ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, has issued instructions that the seventh session of the World Government Summit is to run from February 17-19, 2019. This was announced by Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs and The Future and Chairman of ...

DUBAI / WAM The Smart Dubai Office (SDO), is once again partnering with global innovation network Union to organise the second round of the Global Blockchain Challenge. The competition seeks to source strong and innovative Blockchain start-ups from around the world to contribute to the implementation of the Dubai Blockchain Strategy 2020 which was announced in October 2016 by the ...

DUBAI / WAM Union Coop was awarded the ISO/IEC 27001:2013, Information Security Management System Certificate for its IT Department. The certificate was awarded by Bureau Veritas, a leading Certification Body. Marwan Aridi, Certification Manager at Bureau Veritas, presented the certificate to Aiman Othman, Director of Information Technology Department. “Gaining this certificate proves the efficiency of our information security systems,” Othman ...

Dubai / Emirates Business Gulf Navigation Holding PJSC announced its financial results for 2017 achieving 7 percent increase compared to 2016 with a gross profit of AED 49 million. This achievement comes as a result of the company’s vision and efficient strategic plans set to position Gulf Navigation as one of the largest integrated marine services provider in the region. ...