News

Bloomberg UK unemployment held at a 42-year low in the three months through August and the number of people in work approached a record high, according the figures published. The latest snapshot of the labour market from the Office for National Statistics may help to explain why the Bank of England appears to be edging towards its first interest-rate increase ...

Bloomberg The days when Venmo was just known as the app for splitting dinner bills with friends are over. PayPal Inc.’s peer-to-peer payments service can now be used to make mobile purchases at more than 2 million US retailers, an effort to broaden Venmo’s appeal and bring in more money. The announcement significantly expands the app’s reach in stores, up ...

Bloomberg Amazon.com Inc., EBay Inc. and other online marketplaces are failing to take seriously online tax fraud by vendors using their platforms, a panel of UK lawmakers said, calling on the companies to work with the government’s tax authority to tackle the problem. The tax agency, Her Majesty’s Revenue and Customs, has been too timid in using its powers and ...

Bloomberg HelloFresh, the meal-kit startup backed by Rocket Internet SE that plans an initial public offering in Frankfurt, is telling investors that it’s set to overtake its rival Blue Apron Inc. in the US in the near term. HelloFresh generated sales of $169 million in the US in the second quarter, up from 120 million euros in the first three ...

Bloomberg After more than five years of declining sales, IBM says it will finally show investors it can grow again. Some of that boost will come from one of the company’s legacy hardware businesses, rather than the new services such as cloud and data analytics on which IBM has been pinning its growth prospects. Fourth-quarter revenue is projected to be ...

Bloomberg While competitors race to catch up with Netflix Inc., the largest online TV service in the world is adhering to a simple strategy to maintain its lead: you have to spend money to make money. The streaming pioneer will deploy as much as $8 billion on programming next year, as much as a third more than in 2017. The ...

DUSHANBE / WAM The UAE participated in the 2nd Session of the Arab Economic and Cooperation Forum with the countries of Central Asia and the Republic of Azerbaijan, that was held at the ministerial level here. Led by Sultan bin Saeed Al Mansouri, Minister of Economy, the UAE delegation discussed with the President of Tajikistan Imam Ali Rahman ways of ...

Abu Dhabi / Reuters Abu Dhabi National Oil Co (ADNOC) is expected to issue as early as this week a project bond in the region of $3 billion, in what would be the United Arab Emirates oil major’s first public debt issue, sources familiar with the matter said on Tuesday. The bond, with a maturity longer than 10 years, would ...

ABU DHABI / WAM Etihad Airways is testing a new hand baggage-only ‘Deal Fare’ on two key routes this winter season, for bookings between October 18 and December 18, allowing travellers to purchase lower cost seats in Economy Class if no checked baggage is required. The trial fare includes a complimentary carry-on baggage allowance of 7kg and is available on ...

DUBAI / WAM Dubai Islamic Economy Development Centre (DIEDC), has reviewed a number of initiatives set to be launched over the coming period as part of the emirate’s strategy aimed at becoming the capital of Islamic economy by 2021. This came at a meeting held under the chairmanship of Sultan bin Saeed Al Mansouri, Minister of Economy, during which a ...