News

Bloomberg Sprint Corp. lowered the bar on Apple Inc. iPhone prices by offering a free phone with a trade-in, challenging its larger peers to follow suit or face subscriber losses with bargain-hunting customers. Starting this week, new and existing Sprint customers can get an iPhone 8 if they trade in an iPhone 7, Samsung Galaxy S8 or Samsung Note 8. ...

Bloomberg Aston Martin Holdings Ltd. wants some clarity on the UK government’s Brexit negotiations within six months as the luxury sports-car maker seeks to avoid trade tariffs. The British manufacturer, whose cars feature in James Bond films, also wants an indication of how the industry will recruit skilled labour after the UK exits the European Union, Chief Executive Officer Andy ...

Bloomberg Travel booking giant Expedia Inc. has websites in more than 35 languages, makes at least 40 percent of its revenue outside the US and has offices in 30 different countries. Still, that’s not global enough for new Chief Executive Officer Mark Okerstrom. Okerstrom, who took over at the end of August when Dara Khosrowshahi left to lead Uber Technologies ...

ABU DHABI / WAM Cash dividends and bonus shares to the tune of AED32.5 billion have been distributed by 79 companies listed at Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) for Fiscal Year 2016, according to statistics released by the Securities and Commodities Authority (SCA). Distribution of such big gains goes in line with the listed companies’ ...

Dubai / WAM Sultan bin Saeed Al Mansouri, UAE Minister of Economy, said that economic relations between the UAE and Iraq have witnessed unprecedented growth over the past years due to the willingness of the two countries to strengthen their relationship on all levels. “Volume of non-oil trade between the UAE and Iraq reached a relatively high rate at $11 ...

DUBAI / WAM The Dubai Financial Services Authority (DFSA), on Monday entered into a Memorandum of Understanding (MoU) with Lebanon’s Capital Markets Authority (CMA). The MoU will enhance information sharing and cooperation on supervisory issues, further extending the existing relationship between the two markets. It also provides the foundation to facilitate the entry of some financial institutions into Dubai International ...

Dubai / WAM DP World Limited announced on Monday that it has entered into agreements to acquire Maritime World LLC, the 100% owner of Dubai Maritime City (DMC), for a purchase consideration of $180 million and to buy 100% of Drydocks World LLC (Drydocks) by means of a capital injection of $225 million, taking the total cash required for the ...

Dubai / Emirates Business Microsoft on Monday launched its versatile, reimagined Surface Pro device in the UAE, bringing the full power of Windows 10 creativity and productivity to the country’s consumers and professionals. With longer battery life, enhanced performance and a superior display, the new Surface Pro has been re-engineered to suit the needs of everyone. From artists and designers ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, inaugurated the Mohammed bin Rashid Arabic eLearning Project, with the launch of the Translation Challenge in Dubai on Monday. The Translation Challenge calls on all Arabs to help translate 5,000 videos and 11 million words of world-class maths ...

Abu Dhabi / WAM A number of members of the Executive Council were sworn-in before His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Abu Dhabi Executive Council, at Qasr Al Bahr in Abu Dhabi on Monday. The members designated were, HH Sheikh ...