News

Bloomberg UK manufacturers posted a seventh consecutive month of expansion in November as sectors from food producers to makers of games and sports equipment increased output. Factory output rose 0.4 percent from October, the Office for National Statistics said. Overall industrial production also increased 0.4 percent, with a drop in temperatures boosting demand for energy. Separate figures show construction output ...

Bloomberg Business Secretary Greg Clark was expected to meet with PSA Group Chief Executive Officer Carlos Tavares seeking reassurances on the automaker’s UK manufacturing, as the government published a plan to provide the industry with confidence in Britain after Brexit. Clark will raise his concerns about the future of PSA’s Ellesmere Port site in his meeting with Tavares, according to ...

Bloomberg Ford Motor Co. is expanding its driverless delivery experiment beyond pizza by partnering with Postmates to test what it will take to eventually remove the driver from on-demand distribution. The carmaker and the startup, which connects consumers with drivers to deliver their groceries, take-out and other purchases, will team up this year on a pilot programme that explores how ...

Abu Dhabi / WAM Abu Dhabi’s trade in aluminum and copper amounted to AED12.8 billion in the first 10 months of 2017, a growth of 29.2 percent from AED9.9 billion during the corresponding period in 2016, as per figures released recently by the Statistics Centre— Abu Dhabi. The significant growth was catapulted by the momentum experienced at some platforms associated ...

Abu Dhabi / Reuters Growth of the United Arab Emirates’ gross domestic product is expected to accelerate to 3.9 percent in 2018, a senior official of the Ministry of Economy said on Tuesday, citing a forecast by the central bank. Abdullah Al Saleh, the ministry’s undersecretary for foreign trade, was speaking at a busi-ness conference. Last month, the central bank ...

DUBAI / Reuters Abu Dhabi Commercial Bank (ADCB), the emirate’s second-largest bank by assets, raised $540 million through the sale of a Formosa bond, sources told Reuters on Tuesday. ADCB has been among the most active Gulf banks in the Formosa market in the past year or so. Formosa bonds are sold in Taiwan by foreign issuers and denominated in ...

DUBAI / Emirates Business Emirates NBD, a leading bank in the Middle East and a front-runner in digital banking solutions, and Dynamics Inc. at the 2018 Consumer Electronics Show (“CES”) announced plans to introduce the first battery-powered, interactive payment cards to the United Arab Emirates in 2018. Wallet Card is the world’s first connected, secure payment card. In recognition of ...

Abu Dhabi / WAM Etihad Aviation Group (EAG) on Tuesday confirmed the appointment of Mark Powers as its new Group Chief Financial Officer (CFO), who will join the Group in January 2018. Powers will be responsible for the finance function across the Abu Dhabi-based group’s five divisions, which comprise UAE national airline Etihad Airways, Etihad Airways Engineering, Etihad Airport Services, ...

Dubai / WAM The Dubai Chamber of Commerce and Industry has announced that it will organise and host the 2nd Global Business Forum (GBF) on Latin America in Dubai on February 27-28, under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai. The two-day forum will be ...

Dubai / WAM The Dubai Islamic Economy Development Centre (DIEDC) has become an observer member of the London-based Responsible Finance and Investment (RFI) Foundation, it has been announced. The step represents the rising stature of Islamic finance among the world’s responsible finance systems. Under the terms of the partnership, the RFI Foundation and DIEDC will collaborate towards the common goal ...