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Bloomberg Volkswagen AG is putting its full force behind a shift into electric cars as the world’s largest automaker accelerates away from combustion engines and tries to draw a line under the emissions-cheating scandal that’s weighed on the company for two years. Speaking on the eve of the Frankfurt auto show, Chief Executive Officer Matthias Mueller announced sweeping plans to ...

Bloomberg The venture capital firm led by LinkedIn Corp. co-founder Reid Hoffman has invested in Entrepreneur First, a London-based hub for start- ups, alongside Mosaic Ventures and Founders Fund. Greylock Partners led the $12.4 million funding, which also included Lakestar Capital, and Demis Hassabis and Mustafa Suleyman, the founders of DeepMind, according to a statem- ent from Entrepreneur First. Hoffman’s ...

Bloomberg President Donald Trump plans an aggressive travel schedule, taking him to as many as 13 states over the next seven weeks, to sell the idea of a tax overhaul as the administration tries to avoid repeating the communications failures of its attempt to repeal Obamacare. With a make-or-break legislative battle looming on taxes, the White House is moving to ...

ABU DHABI / WAM Abu Dhabi is ranked among the top 25 cities in the world in terms of economic competiveness as a financial centre, moving up three rankings from the previous position on Global Financial Centres Index (GFCI). The development was announced during the launch of the GFCI 22 on Abu Dhabi Global Market premises on Monday. “As the ...

HONG KONG / WAM The UAE GDP growth rate has outpaced its global equivalent over the past five years, according to a top executive at the UAE Ministry of Economy, who attributed the jumbo leaps secured by the country’s domestic economy to a robust energy sector and an agile economic diversification programme embraced by the wise leadership of the country. ...

DUBAI / WAM Total value of 7,878 active building projects in the UAE reached $227.9 billion (AED836 billion) at the beginning of September 2017, according to BNC Network, the largest and most comprehensive project research and intelligence provider in the Middle East and North Africa (MENA) region. Of these building projects, high-rise buildings account for $100.5 billion while mid-rise and ...

Dubai / WAM / Emirates Business His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, on Monday morning, inaugurated the three-day Cityscape Global exhibition, which is being hosted by the Dubai World Trade Centre (DWTC). HH Sheikh Hamdan bin Mohammed toured the exhibition halls and learnt about the most ...

Dubai / WAM Dubai Land Department (DLD), a government body that handles all legalisation processes related to sales and purchases of land in Dubai, has developed an interactive multi-platform application that helps investors and developers track the progress of all real estate development projects in the emirate. ‘Mashrooi’, developed in exclusive partnership with Emaar Properties Group, combines innovative technology with ...

Dubai / WAM UAE-based developer Arada which developed Aljada, a major real estate project in Sharjah, has sold some 300 residential units, including villas and apartments, at Cityscape Global Dubai 2017. Sheikh Sultan bin Ahmed Al Qasimi, Chairman of Arada, told Emirates News Agency (WAM), that the sale was achieved within the first few hours of its launch at the ...

Dubai / Emirates Business Azizi Developments, one of the fastest growing developers in the UAE announced that phase one of the AED12bn waterfront project Azizi Riviera is sold out on the first day of Cityscape Global 2017. The developer has also sold 50% of inventory of phase two of the same project on the first day at Cityscape. The project, ...