News

  Abu Dhabi / WAM The official holiday marking Israa and Miraj will be on Saturday, April 22, for all workers in private sector enterprises, institutions and companies in the country where Friday is the only weekly day off, while Sunday April 23 will be the official holiday marking the Islamic occasion for those who have Fridays and Saturdays as their ...

  Dubai / WAM Dubai Land Department (DLD) put its slogan – ‘Moving Towards a Successful Career’ – into action on the second day of its participation in the 17th edition of the ‘Careers UAE 2017’ fair, by providing free real estate scholarships for UAE nationals as well as a number of vacancies and training courses for young job seekers. In ...

  Bloomberg The largest disruption to Australian metallurgical coal exports in six years has caused a record surge in spot prices after flooding from cyclone Debbie swamped rail tracks and cut deliveries to ports. Hard coking coal jumped 86 percent to $283.10 a metric ton this week, the biggest gain in data going back four years, according to The Steel ...

  Bloomberg Iran will cut some benefits to Indian state-run refiners on crude purchases after the South Asian country decided to reduce the amount of oil it buys from the Persian Gulf nation, people with knowledge of the matter said. National Iranian Oil Co. will cut the credit period on crude oil sales to 60 days from 90 days for ...

  Bloomberg The scent of doom is returning to China’s local government bond market. S&P Global Ratings pulled the trigger on the first ever downgrade of a Chinese local-government financing vehicle, citing the city in eastern Jiangsu province’s high debt burden. Traders and analysts are uneasy as well, with 18 of 29 polled in a Bloomberg News survey saying they’d ...

  Bloomberg Unilever Plc’s announcement that it’s looking at ending its dual nationality and basing itself in London or Rotterdam means Theresa May finds her Brexit strategy facing either a big endorsement or an early blow. Few companies have more day-to-day contact with the British people than Unilever. It estimates its products, from Marmite and Vaseline to Hellman’s mayonnaise, are ...

  Bloomberg The meeting between US President Donald Trump and Chinese President Xi Jinping this week is encouraging and sets the stage for the world’s two largest economies to strengthen ties, said Ford Chief Executive Officer Mark Fields. “When you have two leaders meet face to face, they become people to each other,” Fields said in an interview with Bloomberg ...

  Bloomberg Altice NV and its partners are exploring a sale of about 20 percent of their US cable-TV business in an initial public offering this quarter, as billionaire Patrick Drahi takes advantage of historically strong equity markets to raise cash for expansion, according to people familiar with the matter. Drahi’s Altice may use the proceeds from the listing of ...

  Bloomberg UK consumers, touted by Mark Carney as a key to the economy’s performance, may find the squeeze on their pockets gets a little tighter this week. While inflation’s upward momentum probably paused in March, another weakening in wage growth means pay isn’t keeping pace with price increases. That’s all going to feed into household spending habits in 2017. ...

  Bloomberg Ireland’s prime minister says the European Union and Britain must be “creative and imaginative” to avoid creating a “hard” border between his country and the UK after Brexit. Prime Minister Enda Kenny met German Chancellor Angela Merkel to discuss what implications Britain’s departure from the EU will have for Ireland. Kenny told reporters in Berlin any solution must ...