News

  Bloomberg Auto workers may be getting some extra time off around Independence Day, but they won’t be celebrating. They’ll know it means sales are weak and that profits — and profit-sharing checks — could be shrinking. Manufacturers used to shut plants for a week or two in July for maintenance and to keep inventories in check. As sales boomed ...

  Bloomberg The euro area maintained its growth momentum at the start of 2017, strengthening the case of those pressuring the European Central Bank to sketch out an end to extraordinary stimulus measures. Gross domestic product rose 0.5 percent in the first three months of the year, according to an initial estimate published by the European Union’s statistics office on ...

  ABU DHABI / Agencies In a new report from Ericsson, ICT players who leverage 5G to digitalize industries can capture business worth 6.5 billion US dollars by 2026 in UAE. The report is titled “The 5G business potential – Industry digitalization and the untapped oppor- tunities for operators” and it analyzes the 5G business opportunity that comes from industrial ...

  ABU DHABI / WAM The Follow up Committee of the Initiatives of the UAE President has approved a number of projects totalling AED410 million in implementation of the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and the follow-up of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme ...

  ABU DHABI / WAM First Abu Dhabi bank’s liquidity surged to AED 134.4 billion during the Q1 2017 from AED130 billion by the end of 2016 as per the financial statements released by the new banking entity created after the merger of the National Bank of Abu Dhabi and First Gulf Bank. The considerable cash level reflects the high ...

  Dubai / Emirates Business Mergermarket, the leading provider of M&A data and intelligence, has published its Q1 2017 M&A Brief for the Middle East. The report shows that the Middle East has benefitted from foreign and domestic investment in Industrials & Chemicals, with the sector driving Q1 M&A to reach its highest value in eight years (16 deals, worth ...

  Dubai / WAM Dubai Financial Market (DFM) will organise its International Investor Roadshow in London on May 17 and 18. Senior representatives from 16 companies listed on DFM and Nasdaq Dubai will update London-based international fund managers on their respective companies’ growth strategies as well as most recent developments. Organised in collaboration with HSBC, the roadshow will take place ...

  Abu Dhabi / WAM Dr. Abdullah bin Mohammed Belhaif Al Nuaimi, Minister of Infrastructure Development, stressed that maritime transport in Dubai is witnessing major international development, while highlighting the fact that the UAE’s maritime transport sector is considered the hub of international maritime trade in the Arab Gulf and West-Asia in terms of port capacity and development. During his speech ...

  Ajman / WAM Ajman Free Zone (AFZ) has set up a representative office in the Cypriot capital, Nicosia, aimed at strengthening investment co-operation between the AFZ and Nicosia. “Ajman Free Zone has opened its doors to Cypriot investments with promising opportunities in an encouraging environment with the laws and facilities offered by the emirate, which will lead to strong partnerships ...

  Abu Dhabi / WAM General Manager of the Abu Dhabi City Municipality, (ADCM) Musbbah Mubarak Al Murar, and senior officials of the municipality, have opened a new customer service centre dedicated to assisting customers on the move. The centre, which is situated beside the head office of the municipality, gives clients the convenience of being served and having their transactions processed ...