News

Bloomberg UK Prime Minister Theresa May pledged a new right-to-buy program for social housing in an effort to boost home-building by local authorities and help alleviate a growing shortage of low-cost housing. Councils and housing associations will be offered government funding to build homes along with permitting help from the Homes and Communities Agency, the Conservatives said in a statement. ...

Bloomberg The world’s biggest container shipping company and Denmark’s largest issuer of corporate bonds may rely less on debt markets in the near future. A.P. Moller-Maersk A/S has ample liquidity and plans to cut capital expenditure, both of which reduce the need for new bond sales, according to Chief Financial Officer Jakob Stausholm. He also pointed to the century-old conglomerate’s ...

Bloomberg German economic growth accelerated to the fastest pace in a year last quarter, underpinning assessments by Mario Draghi and the European Commission that the region’s recovery is getting stronger. The 0.6 percent expansion, up from 0.4 percent in the previous three months, was helped by a surge in investment, a slight increase in consumer spending and a pickup in ...

Bloomberg 21st Century Fox Inc., trying to seek government approval for its $15 billion deal for control of Sky Plc, is prepared to make concessions to UK regulators who are scrutinizing its suitability as a media owner, according to people familiar with the matter. The film and television company is willing to negotiate over remedies if necessary, including changes to ...

DUBAI / WAM Dubai master developer Nakheel on Saturday announced that it has signed a construction contract worth nearly AED1.5 billion for The Palm Gateway, a new, three-tower residential, retail and beach club complex at the foot of the world-famous Palm Jumeirah. Nakheel has appointed Shapoorji Pallonji Mideast LLC to carry out the work, which will begin in Q2 2017 ...

DUBAI / WAM Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Culture and Knowledge Development has said that Dubai and the UAE have become important global crossroads, particularly for finances, investment, bankers, traders, business owners and entrepreneurs. Speaking on Saturday at ‘The Success Summit’, in Dubai, the minister in his keynote speech said, “Our environment favours aggressive, imaginative visionaries, well-informed ...

ABU DHABI / WAM Abu Dhabi Securities Exchange (ADX) has concluded its first roadshow in New York City. Accompanied by a number of its listed companies, the officials from the exchange hosted meetings with around 50 institutional investors from various asset management companies and hedge funds whose assets under management are around US$7 trillion. The roadshow was designed to facilitate ...

Abu Dhabi / WAM More than 40 counter and cyber terrorism experts, decision-makers, senior government officials and the United Nations Secretary-General’s representative will gather in Abu Dhabi on Monday for the International Conference on the Criminalisation of Cyber Terrorism, to find common ground for implementing a system of international laws and legislations that address the roots and extensions of the ...

Dubai / WAM Emirates will introduce a third daily service to Brisbane, Australia from December 1, complementing its existing two daily services. The direct service, to be operated on a B777-200LR aircraft with eight seats in First Class, 42 in Business Class and 216 in Economy Class, will increase capacity on the route by 3,724 seats a week, inbound and ...

Sharjah / WAM The Sharjah Civil Defence brought under control a huge fire that started in a ship bearing a Panama flag at Hamriyah Port on Saturday morning, according to a statement issued by the Sharjah Government Media Bureau. The statement said that the efforts of the Sharjah Civil Defence personnel, the Coast Guards, and the management of Al Hamriyah ...