News

  Bloomberg Fiat Chrysler Chief Executive Officer Sergio Marchionne is putting his search for a merger on the back burner as he focuses on reaching the Italian-American carmaker’s goal of eliminating debt before he retires in 2019. “We need to be very careful that we don’t start unrealistic dreams about consolidation as we are on our way to achieve historically ...

  Bloomberg Almost out of nowhere, Canada has become one of the fastest growing economies in the developed world. The oil-producing nation, which struggled mightily with falling crude prices the past two years, grew at an annualized pace of almost 4 percent in the first quarter, according to the Bank of Canada’s latest estimates. No other Group of Seven economy ...

  Bloomberg France’s independent presidential candidate Emmanuel Macron, tied with far-right candidate Marine Le Pen in polls before the election, said Germany’s large trade surplus is harmful to the euro-zone economy and called for more balance. “Germany benefits from the imbalances within the euro zone and achieves very high trade surpluses,” centrist candidate Macron said in an interview published on ...

  RIYADH / WAM As governments in the Middle East and North Africa (MENA) are prioritising investments in the power sector, the region will need to invest $302 billion in the next five years to feed the rapidly rising demand for electricity, according to estimates by APICORP Energy Research for the period 2017-2021. ‘‘Of this, $179 billion will be needed ...

  ABU DHABI / WAM The total value of margin trading facilities provided by brokerage companies operating at ADX and DFM amounted to AED 36.5 billion during the first quarter of 2017, an increase of 46 percent over the same period in 2016. According to official statistics, the margin trading accounted for 27.8 percent of the total transactions conducted at ...

  DAVOS / WAM The UAE ranks first for tourism safety in the Middle East and North Africa (MENA) region, according to the Travel and Tourism Competitiveness Report 2017, published recently by the World Economic Forum (WEF). The WEF is a international non-profit body based in Davos, Switzerland, with a committee established ‘to improve the state of the world by ...

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, expressed his pride and appreciation for the country’s men who served in its national institutions since its establishment, who carried the message of its development and modernisation, and contributed in important ways to further ...

  Abu Dhabi / WAM Abu Dhabi Ship Building (ADSB) handed over a military landing vessel to the Kuwaiti Defence Ministry. This was announced by ADSB at the official inauguration of the 64-metre Kuwaiti landing craft and high-speed protection vessel “Al Safar” at the company’s yard in Musaffah Industrial Base in Abu Dhabi. ADSB is one of the region’s key providers ...

  Abu Dhabi / WAM The Khalifa bin Zayed Al Nahyan Foundation (KF) completed the largest concrete dam construction project in Somalia, which will provide the city of Hargeisa and nearby areas with water for irrigation channels, as well as to store water for use during the drought season. The launch of the dam coincides with the “For You, Somalia” campaign, launched ...

  Abu Dhabi / WAM A workshop on reviewing UAE trade policy has been held by the Ministry of Economy in the presence of representatives of the World Trade Organisation (WTO) recently in Dubai. The workshop, which was attended by Juma Mohammed Al-Kait, Assistant Under-Secretary for Foreign Trade at the Ministry of Economy, overviewed the measures taken to review the UAE ...