News

  Bloomberg President Donald Trump will open the door to new oil and natural gas drilling in Pacific waters off the coast of California with a directive that sets up a certain clash with environmentalists. Trump will order the Interior Department to review locations for offshore oil and gas exploration and consider selling drilling rights in territory that former President ...

  Bloomberg As dawn broke on the UK’s decision to leave the European Union last year, Julian Braithwaite was awoken by a phone call from a fellow diplomat in Geneva. The message was more like a warning: your world is about to change. The British ambassador to the World Trade Organization, until now a job more in name than practice, ...

  Bloomberg America’s working class is falling further behind. The rich-poor gap — the difference in annual income between households in the top 20 percent and those in the bottom 20 percent — ballooned by $29,200 to $189,600 between 2010 and 2015, based on Bloomberg calculations using US Census Bureau data. Computers and robots are taking over many types of ...

  Bloomberg Daimler AG plans to ratchet up development spending throughout the year as the inventor of the automobile scrambles to keep pace with a disruptive shift to electric, self-driving vehicles. Research-and-development expenses jumped 24 percent to 2.1 billion euros ($2.3 billion) in the first quarter and will continue to rise in the course of 2017, the Stuttgart, Germany-based company ...

  Bloomberg Emma Walmsley pledged to spur growth at GlaxoSmithKline Plc’s pharmaceutical unit less than a month after taking over as chief executive officer of the UK’s largest drugmaker. “We are a science-based company,” Walmsley, who had been head of Glaxo’s consumer products division before her appointment in September, told reporters on Wednesday. “Our focus has got to be around ...

  DUBAI / WAM Expo 2020 Dubai, the first mega-event to be hosted in the region, will lay the foundations for a diversified and sustainable tourism industry through a series of initiatives designed to support the UAE’s plans for diversification to a knowledge-based economy. The strategy was revealed during Expo 2020 Dubai: The Legacy, the first session to take place ...

  ABU DHABI / WAM UAE stock markets closed in green securing AED 3.5 billion in profits driven by the blue chips, specially those at the banking and real estate sectors. First Abu Dhabi Bank’s share jumped to AED 11.20 after the General Assembly of the new banking entity created following the merger of National Bank of Abu Dhabi and ...

  DUBAI / Emirates Business LinkedIn, the world’s largest professional network, released figures announcing that it has hit the 500 million members milestone across 200 countries and 22 million members in the MENA region. Helping members to stay informed on relevant news and views impacting the professional world, LinkedIn’s UAE members rank as the most connected in the world. UAE ...

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, on Tuesday honoured the winners of the 20th edition of the Dubai Government Excellence Programme, DGEP. HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, and HH Sheikh Maktoum ...

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, ordered real estate developers and companies developing touristic, commercial and cultural projects to install additional power generators to ensure the seamless uninterrupted power supply in their developments. His Highness’ decision was made during his visit to Dubai Water and ...