News

Bloomberg General Electric Co.’s management overhaul marked the latest departures of high-profile executives from a company that has traditionally served as an incubator of corporate bosses. Chief Financial Officer Jeffrey Bornstein is leaving at the end of the year. Two other company veterans and GE vice chairs, Beth Comstock and John Rice, are retiring from the company. They’re following Steve ...

Bloomberg HelloFresh, the meal-kit startup owned by Rocket Internet SE, aims to announce an initial public offering in the second half of October as the German company tries to distance itself from the post-IPO flop of Blue Apron Holdings Inc., people familiar with the matter said. HelloFresh has been waiting for preliminary third-quarter earnings to be ready to show investors ...

Bloomberg Two major hurricanes knocked down payrolls in September, yet the US labour market is holding up just fine. That’s the broad message from employment figures released by the Labor Department. Payrolls fell for the first time since 2010, reflecting Hurricane Harvey’s impact on Texas and Irma’s fallout in Florida. At the same time, the unemployment rate dropped to a ...

Bloomberg President Donald Trump, who has pushed for broad rollbacks of regulations on the environment, markets, banking and other areas, mused on Twitter about restoring a media rule killed under a president he cites as one of his heroes, Ronald Reagan. “Late Night hosts are dealing with the Democrats for their very ‘unfunny’ & repetitive material, always anti-Trump! Should we ...

Bloomberg Oman pledged to create 25,000 public sector jobs by December, a move that risks adding to a budget gap that was the Gulf’s widest last year. The government will follow up with additional measures to address the lack of jobs in the sultanate, the state-run Oman News Agency reported on Wednesday, citing the cabinet’s decision a day earlier. Unemployment ...

Dubai / WAM In line with its mandate to position Dubai as the global capital of the Islamic Economy, the Dubai Islamic Economy Development Centre (DIEDC), in partnership with Dubai Exports, the export promotion agency of Dubai Economy, recently led a multi-sector trade mission to Australia. The aim of the high level and diverse group was to capitalise on the ...

Bloomberg President Vladimir Putin said Russia may agree to extend a deal with OPEC to curb oil supplies beyond March to the end of 2018, though he’ll wait to make a decision until nearer the end of the existing pact. “Based on the realities in March 2018, we will make our decision, but I do not rule out that we ...

NEW YORK / WAM The United Arab Emirates has highlighted the importance of involving the youth in international efforts to address various global challenges, as well as enabling and involving them in the decision-making process. This came in a statement made on behalf of the UAE by its delegation at a general discussion on social development issues, organised by the ...

SHARJAH / WAM Sharjah Economic Development Department (SEDD), released the sixth edition of the 2016 annual report which highlights its reports throughout the year. The report included the services, activities, initiatives and policies implemented by the department within the framework of its vision to achieve economic well-being in the emirate. It also included the objectives the department seeks to achieve ...

Dubai / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Board of Trustees at the Dubai Future Foundation (DFF), visited the foundation’s headquarters, accompanied by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai. During the visit, they viewed some of the foundation’s top ...