News

Bloomberg UK factories and construction firms unexpectedly cut output in May, casting doubt over the performance of the economy in the second quarter. Manufacturing fell 0.2 percent from April as vehicle production posted the biggest drop in more than a year, the Office for National Statistics said. Total industrial production declined 0.1 percent. Building output shrank by 1.2 percent. There ...

Bloomberg Syngenta AG reached a confidential settlement with a Nebraska farmer who claimed the company mishandled marketing of its genetically modified seed, causing US corn prices to plummet. With the settlement, Syngenta averts a trial that was scheduled to start July 10. Terms weren’t disclosed. Two weeks ago, Syngenta lost a $218 million jury verdict for a class of Kansas ...

Bloomberg Group of 20 leaders agreed to address growing overcapacity and rock-bottom prices in global steel markets, bowing to pressure from the Trump administration after it threatened to impose punitive tariffs on its allies. In talks, US officials managed to get language inserted into the communique that sets deadlines for G-20 members to address excess steel production, according to a ...

Bloomberg Faulty fuel pump parts that have spurred US recalls of more than 450,000 SUVs by Volkswagen AG and its Porsche and Audi brands were supplied to 13 other automakers and suppliers, German auto-parts maker Continental AG told US regulators. The National Highway Traffic Safety Administration is now probing whether vehicles and parts sold by those other companies also contain ...

Bloomberg A former Audi AG manager was charged with fraud by the US for his alleged role in helping Volkswagen AG cheat US emissions standards. Giovanni Pamio, 60, conspired to defraud US regulators and consumers through software designed to cheat emissions testsin thousands of Audi vehicles marketed as “clean diesel,” the Justice Department said. “Pamio and co-conspirators deliberately failed to ...

Dubai / WAM Dubai’s non-oil foreign trade grew 2.7 percent to reach AED327 billion in the first quarter of 2017, compared with the AED318 billion in the same quarter of 2016, according to the data published by Dubai Customs. H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, praised ...

Abu Dhabi / Emirates Business Under the patronage of HH Sheikh Hamdan bin Zayed Al Nahyan, the Ruler’s Representative in ‘Al Dhafra Region’, HE Staff Major General Pilot Faris Khalaf Khalfan Al Mazrouei, Chief of the General Authority for the Security of Ports, Borders and Free Zones, and Board Member of Abu Dhabi Ports, officially inaugurated Delma Port on Saturday. ...

Dubai / wam Emirates Central Cooling Systems Corporation (Empower), announced a partnership with Trane Commercial for the purchase of new chillers in what is considered the biggest deal in the district cooling industry worldwide. The agreement was signed at the end of the IDEA Annual Conference & Tradeshow 2017 held in Arizona, USA. Accordingly, Trane Commercial will supply Empower with ...

ABU DHABI / WAM A senior delegation led by Dr Saif Al Seiari, Acting Director-General, Abu Dhabi Water and Electricity Authority (ADWEA) has visited the Barakah Nuclear Energy Plant, to witness the progress of UAE’s peaceful nuclear energy programme. The delegation was hosted by Emirates Nuclear Energy Corporation’s (ENEC) Chief Executive Officer, Mohamed Al Hammadi, and executive management. The visitors ...

ABU DHABI / WAM The Abu Dhabi General Services Company, Musanada, revealed that two packages of the Mafraq-Ghuwaifat Highway project have been completed in an important milestone towards final completion in line with the highest standards. This is expected to remove temporary detours and help in opening of the two packages for operation during July 2017. It is part of ...