News

DUBAI / Emirates Business The Dubai Chamber of Commerce and Industry (DCCI) participated in INNOPROM 2017, Russia’s largest international industrial trade fair, as part of its efforts to showcase Dubai’s potential as a global hub for emerging industries. The conference and exhibition, held in Ekaterinburg, featured a Dubai Chamber stand which provided visitors with an overview of the Dubai Industrial ...

DUBAI / Emirates Business The UAE’s market leader in innovation, Mashreq Bank, announced the launch of MashreqPay — a digital mobile wallet providing secure easy-to-use payment for purchases, anywhere in the world where cards are accepted and the merchant terminal has NFC (near-field-communication) capability. Since 2014, when Mashreq launched the first mobile contactless payment wallet with its Tap-n-Go sticker, the ...

Abu Dhabi / Emirates Business The UAE has officially submitted its candidacy for membership into the International Maritime Organization’s (IMO) Category B during its participation in the organization’s General Meetings held in London. The plenary sessions, which was chaired by His Excellency (HE) Abdullah Belheif Al Nuaimi, Minister of Infrastructure Development and Chairman, Federal Authority for Land and Maritime Transport, ...

Bloomberg Three hundred ten. That’s the electric range of a $44,000 version of Tesla’s Model 3, unveiled in its final form on July 28 night. It’s a jaw-dropping new benchmark for cheap range in an electric car, and it’s just one of several surprises Tesla had in store as it handed over the keys to its first 30 customers. Tesla ...

Bloomberg BT Group Plc is proposing a 600 million-pound ($788 million) plan to bring faster Internet coverage to the rural UK, to be paid for by charges to other broadband users. The former phone monopoly’s Openreach wholesale division by 2020 would build connections enabling broadband download speeds of at least 10 megabits per second for almost all of the remaining ...

Bloomberg AT&T Inc. named three new divisional chiefs to lead the company when its $85.4 billion takeover of Time Warner Inc. closes later this year. As reported earlier by Bloomberg News, John Stankey, who ran AT&T’s DirecTV division, will supervise integration planning for the merger and lead the Time Warner businesses after the deal closes, the company said. John Donovan, ...

Bloomberg Since the financial crisis, it pays to be old in the UK. While the disposable incomes of retired households have risen 15 percent since 2008, for working households it’s been almost a decade of stagnation. Median UK household disposable income rose 5.7 percent to 27,170 pounds ($35,570) in the 12 months through March from its pre-crisis level, the Office ...

Bloomberg SoundCloud Ltd. is close to a deal to sell stakes in the company to a pair of private equity firms, according to people familiar with the matter, an investment that will help the beleaguered music-streaming service keep operating for the foreseeable future. The two firms would be acquiring stakes via separate deals, said the people, who asked not to ...

Bloomberg Big Oil is starting to beat the crude-market slump as the industry rediscovers how to make money at lower prices. Exxon Mobil Corp. and Royal Dutch Shell Plc are forecast to more than double second-quarter profit from a year earlier, far outstripping the 8 percent gain in benchmark Brent crude, according to analyst estimates compiled by Bloomberg. Chevron Corp. ...

Bloomberg TransCanada Corp. said it still expects commercial support for its controversial Keystone XL oil pipeline, tamping down speculation that it was having trouble finding customers for the long-delayed line. Keystone XL, which was rejected by the Obama administration before being revived by President Donald Trump this year, would boost TransCanada’s dividend growth, the company said in a statement. Media ...