News

Bloomberg European car sales fell in September for only the second monthly drop this year as concerns about Brexit among UK consumers more than offset gains in France, Italy and Spain. Registrations declined 2 percent from a year earlier to 1.47 million vehicles, the Brussels-based European Automobile Manufacturers’ Association, or ACEA, said in a statement. Figures were dragged down by ...

Bloomberg A Johnson & Johnson unit was accused of injuring hundreds of patients by selling “defective” hip implants, according to lawyers suing the company on the first day of a London trial. Some of DePuy International Ltd.’s Pinnacle hip replacement parts cause metal particles to be released into the body, causing a range of health problems, lawyers for the 341 ...

Bloomberg Daimler AG is firming up plans for its biggest corporate overhaul in a decade, granting its car and truck operations more independence in a move that could pave the way for spinoffs and other deals as the automaker confronts the disruptive shift to self-driving electric vehicles. Under the plan, the German automotive giant would break up its conglomerate structure ...

Bloomberg The US Supreme Court accepted a case that could roil the credit-card business, agreeing to consider reviving government allegations that American Express Co. thwarts competition by prohibiting merchants from steering customers to cards with lower fees. A federal appeals court had thrown out the lawsuit, saying the US government and 11 states failed to prove that the American Express ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, announced the UAE Strategy for Artificial Intelligence (AI), a major initiative within the UAE Centennial 2070 objectives. This is the first such strategy of its kind in the region and the entire world to promote government performance and ...

MUMBAI / WAM The National Investment and Infrastructure Fund (NIIF), of India signed an investment agreement worth $1 billion with a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA). As part of the comprehensive partnership agreement, ADIA will become the first institutional investor in NIIF’s Master Fund and a shareholder in National Investment and Infrastructure Limited, the NIIF’s ...

DUBAI / Reuters Dubai Aerospace Enterprise (DAE) intends to tap the Islamic bond market within the next nine months as part of a strategy to diversify the company’s funding, its chief executive said on Monday. The Dubai government-controlled company became one of the world’s largest aircraft lessors in August after acquiring Dublin-based AWAS. DAE Chief Executive Firoz Tarapore said that ...

DUBAI / Reuters Abu Dhabi Commercial Bank (ADCB) has raised $315 million in a triple tranche ‘Kangaroo’ bond issuance, the bank said in a statement. Kangaroo bonds are issued by non-Australian issuers in the Australian market and are denominated in Australian dollars. Australia and New Zealand Banking Group Ltd (ANZ) and Nomura International Plc acted as joint lead managers for the ...

ABU DHABI / Emirates Business IBS Software (IBS) has been selected by Etihad Airways for implementing its award winning cargo management solution, iCargo. The multi-million dollar, multi-year contract was signed in Abu Dhabi. The engagement will see iCargo system manage the airline’s air cargo sales and operations worldwide, automating its network-wide booking, pricing and capacity management functions with real-time revenue ...

DUBAI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued Federal Law No. 09 of 2017 regulating the handling, trading, marketing and circulation of veterinary products considering its direct impact on animal and public health, as well as the environment at large. The move emphasises the critical role of veterinary medicines and related products in animal ...