News

Bloomberg Japan’s industrial output rebounded in April, hitting the highest level since 2008, as overseas demand continued to support the nation’s economic recovery. Industrial production increased 4.0 percent (forecast +4.2 percent) in April from March, when it fell 1.9 percent. Industrial production index rose to 103.8 in April, the highest level since October 2008. Output is forecast to fall 2.5 ...

Bloomberg Levandowski joined the ride-hailing startup in 2016 after several years at Google’s autonomous driving project, which is now called Waymo. In February, Waymo sued Uber alleging that Levandowski stole trade secrets and patents from Waymo for the development of self-driving technology and brought them to Uber. Levandowski has invoked his Fifth Amendment right not to testify in the case, ...

Bloomberg The Greek government wants to persuade shipowners and shipping-insurance companies based in London to move their European Union headquarters to Greece as the UK prepares to exit the bloc. “We’re in contact with five large ship-insurance brokers who are considering various EU member countries for the transfer of their headquarters,” Shipping Minister Panagiotis Kouroumblis said in an interview in ...

Bloomberg Denmark’s economic expansion was saved in the first quarter of the year by a build up in inventories. Danish output expanded at a quarterly rate of 0.6 percent, twice as fast as estimated by economists surveyed by Bloomberg. The annual rate was 2.2 percent, according to preliminary data from Statistics Denmark. Private consumption, which accounts for almost half of ...

ABU DHABI / Agencies Savings account balances in the UAE amounted to AED158.5 billion during the first third of 2017, a growth of 3 percent, i.e. AED4.75 billion, over the same period in 2016, according to UAE Central Bank statistics. Saving by local currency at the banking sector hit AED129.56 billion against an equivalent of AED28.88 billion in foreign currencies ...

ABU DHABI / WAM A delegation from the UAE representing various national stakeholders in nuclear industry, is taking part in the International Conference on the IAEA Technical Cooperation Programme: ‘Sixty Years and Beyond-Contributing to Development’. The three-day event, concluding on the June 1, is being held at the headquarters of the International Atomic Energy Agency in Vienna, Austria. Led by ...

ABU DHABI / WAM The Emirates Red Crescent (ERC) launched the Certificate of Giving campaign, in co-operation with Abu Dhabi Islamic Bank, during the holy month of Ramadan, based on an initiative by both parties for the UAE’s Year of Giving. The initiative is a financial endowment, through contributi- ons placed in bank accounts. The value of the sukuk, to ...

Dubai / Emirates Business Ground breaking has taken place on the site of a new six tower residential complex designed by Abdul Rahim Architectural Consultants (ARACO) and located in Dubai’s fast-growing residential suburb, Jumeirah Village Circle (JVC). Close to Al Barsha Fourth, the six building project is valued at AED 410 million, and covers an area of 100,000sqft. Commenting on ...

Dubai / Emirates Business FinTech Hive at DIFC, the region’s first FinTech accelerator launched by Dubai International Financial Centre (DIFC) earlier this year, received over 100 applications from more than 32 countries for its inaugural programme. The majority of applications have come from the UAE, the UK, the US, India, Nigeria and Singapore, and cover a range of concepts including ...

Dubai / Emirates Business Dubai Investments Park [DIP], the unique integrated commercial, industrial and residential community in the Middle East and a wholly-owned subsidiary of Dubai Investments PJSC, announced that 280 new sub-tenants have leased premises within DIP between January and April 2017, reinforcing its surging reputation as the preferred and most sought-after business destination in region. The new leases ...