News

Bloomberg The UK’s exit from the European Union should be prevented due to the “far-reaching impact” Brexit would have, Germany’s Council of Economic Experts, which advises Chancellor Angela Merkel, said on Wednesday. If Britain does leave the bloc, an agreement is needed that would minimise the damage for both sides, the council said in its annual report. With talks likely ...

Bloomberg Wal-Mart Stores Inc.’s app is close to surpassing Apple Pay in usage for mobile payments in the US, giving the world’s largest retailer even more clout as a growing number of people shop with smartphones. Available in 4,774 stores, Walmart Pay is enrolling tens of thousands of new users a day, up from thousands four or five months ago, ...

Bloomberg Two former Rolls-Royce Holdings Plc executives pleaded guilty to US charges that they orchestrated international bribes at the engine maker for more than a decade. The cases, also involving three other individuals, focus on efforts to secure a $145 million contract to power a gas pipeline from Kazakhstan to China. The action comes about 10 months after Rolls-Royce agreed ...

Bloomberg Snap Inc. still isn’t meeting much-lowered projections for growth. Now the company is taking drastic measures to shape its future. While ad prices fell as part of a transition in the company’s sales system, the larger problem, Snap said, is that people complain they don’t know how to use the Snapchat mobile-messaging app. Once part of the app’s allure ...

DUBAI / WAM The UAE Cabinet, presided over by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, approved the federal budget for 2018-2021 with a total of AED 201.1 billion, of which AED51.4 billion is for 2018, with a zero deficit. This came during the extraordinary session held at the ...

DUBAI / Emirates Business Amlak Finance PJSC, a leading specialized real estate financier in the Middle East, announced its financial results for the nine months period ending September 30. The company recorded a net profit of AED30 million for the nine months period ending September 30. The company reported profit of AED14 million for Q3, an increase of 100% compared ...

Dubai / WAM Expo 2020 Dubai on Tuesday launched a worldwide search, backed by a social media and online campaign, to find the brains behind the newest, cool- est gadgets, gizmos plus digital and traditional games. “We want to wow and delight our visitors with take-home keepsakes that could only come from a World Expo,” said Gillian Hamburger, Senior Vice ...

Abu Dhabi / WAM The much-anticipated Louvre Abu Dhabi will open to the public this Saturday, with a spectacular week-long series of celebrations. It is the first museum of its kind in the Arab region and offers a new perspective on the history of art in a globalised world. An iconic architectural masterpiece designed by French architect Jean Nouvel, it ...

DUBAI / WAM Ten start-ups have made the cut for the first ‘Islamic Lifestyle Mini Bootcamp’ that will run from November 12-16 at Dubai Technology Entrepreneur Centre (Dtec), the largest technology incubator in Middle East, located within Dubai Silicon Oasis (DSO), the integrated hi-tech park. As part of the five-day bootcamp, international trainers and serial entrepreneurs will mentor the selected ...

DUBAI / WAM Dubai has maintained its strong performance through 2017 and is on track for another record year in terms of tourist volumes, according to the latest data released by Dubai’s Department of Tourism and Commerce Marketing, Dubai Tourism. A total of 11.58 million international overnight visitors arrived in Dubai during the first nine months of 2017, reflecting a ...