News

  Bloomberg Yahoo is punishing CEO Marissa Mayer and parting ways with its top lawyer for the mishandling of two security breaches that exposed the personal information of more than 1 billion users and already have cost the company $350 million. Mayer won’t be paid her annual bonus nor receive a potentially lucrative stock award because a Yahoo investigation concluded ...

  Bloomberg UK manufacturing growth slowed for a second month in February and price pressures cooled, a sign that the effects of the pound’s drop may be easing. IHS Markit’s Purchasing Managers Index fell to 54.6 from a revised 55.7, above the 50-mark dividing expansion from contraction but below economists’ expectations for 55.8. The pound’s fall since the UK’s June ...

  Bloomberg Euro-area inflation accelerated to the fastest pace since January 2013, providing fresh arguments to those calling for an exit from the European Central Bank’s monetary stimulus program. Consumer prices rose 2 percent in February from a year earlier, the European Union’s statistics agency in Luxembourg said on Thursday. That matched the median estimate of 47 analysts surveyed by ...

  Bloomberg Morgan Stanley’s real estate investing unit plans to sell its stake of almost 12 percent in the London skyscraper known as the Walkie Talkie, according to three people familiar with the plan. China Investment Corp., which owns a portion of the 20 Fenchurch Street building, is considering bidding for the stake, which is valued at about 120 million ...

  DUBAI / WAM The Federal Electricity and Water Authority (FEWA) has signed an agreement with Mubadala Investment Company, and Siemens, to study the technical and financial viability of building a 2,400 MWA combined cycle power plant (CCPP). Suhail bin Mohammed Al Mazrouei, Minister of Energy and Chairman of FEWA, attended the signing ceremony between Mohammed Mohammed Saleh, Director-General of ...

  Abu Dhabi / WAM The value of non-oil foreign merchandise trade through Abu Dhabi ports increased by 0.1 percent from AED 169.0 billion in the year to date (Jan-Dec) 2015 to AED 170.6 billion in the same period of 2016, according to figures released by Statistic Centre – Abu Dhabi (SCAD). ‘‘This was mainly a result of a 31.7 ...

  DUBAI / Emirates Business Emirates NBD, a leading bank in the region announced its position as the UAE’s most valuable banking brand with a USD 3.406 billon brand valuation in The Banker’s annual brand valuation league table. The Bank also secured a spot among the top 100 global banking brands, coming in seventy-fifth worldwide up from ninety-sixth in 2016. ...

  Abu Dhabi / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, and Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Culture and Knowledge Development, honoured the winners of the International Burda Award at its 14th session. The award was organised by the Ministry of Culture and Knowledge Development in the fields of ...

  DUBAI / WAM A Wellness Symposium, which will throw the spotlight on the $8.3 billion industry in the Middle East/North Africa (MENA), will be launched at Arabian Travel Market (ATM), which takes place at the Dubai World Trade Centre, April 24-27. A partnership between the World Travel Market (WTM) portfolio of events and the Global Wellness Institute (GWI), the symposium ...

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, marked on Wednesday the launch of “the UAE’s month of reading” through a series of tweets, highlighting the role of reading in making hope. “Today marks the beginning of the UAE’s Month of Reading at our schools, ...