News

  Bloomberg BMW AG, Ford Motor Co. and Jaguar Land Rover are among the winners of 110 million pounds ($136 million) from the UK for the development of low-carbon vehicles and driverless cars. The funding for a total of 38 projects, including 62 million pounds for low-emission cars and 31 million pounds for autonomous vehicles, will help protect almost 2,400 ...

  Bloomberg UK grocers are finding creative ways of passing on Brexit-induced cost increases to consumers. If you’re shopping for candles or light bulbs, buyer beware. Unable to raise prices of staple goods from milk to Marmite because of tough competition from discounters and watchful tabloid newspapers, supermarket operators like Tesco Plc and Wal-Mart Stores Inc.’s Asda are ratcheting them ...

  Bloomberg UK inflation’s upward trajectory paused in March as the timing of Easter led to a drop in airfares, offsetting increases in the price of food and clothing. While the rate was unchanged compared with February at 2.3 percent, that’s still the highest since 2013 and up from just 0.5 percent a year ago. The increase over the past ...

  Bloomberg Elon Musk’s Tesla Inc. surpassed General Motors Co. to become America’s most valuable carmaker, eclipsing a company whose well-being was once viewed as interdependent with the nation’s. A week after topping Ford Motor Co., Tesla climbed 3.3 percent, lifting its market capitalization to $50.9 billion. The electric-car maker ended the day valued at about $64 million more than ...

  Bloomberg LVMH shares rose to a record in Paris after the luxury leader’s sales far exceeded estimates on rebounding demand for items from Louis Vuitton bags to Hennessy cognac. Figures showed first-quarter organic revenue rose 13 percent, compared with the 8 percent median forecast. All divisions beat estimates, with the fashion and drinks units standing out. The stock gained ...

  DUBAI / WAM The Emirates NBD Dubai Economy Tracker said that March data signalled a sharp improvement in business conditions across Dubai’s private sector economy, with output, new orders, employment and stocks of purchases all expanding at a faster pace than in the preceding month. This was highlighted by a rise in the NBD Dubai Economy Tracker Index, a ...

  KUWAIT / WAM The Arab region now produces 15.5 percent of the world gas production, an increase of 11.8 percent from the year 1980’s levels, according to the Organisation of Arab Petroleum Exporting Countries, (OAPEC). Kuwait News Agency quoted Engineer Wael Abdul Mo’ti, gas industries expert at the Technical Affairs Department (OAPEC) as saying that Arab countries’ natural gas ...

  ABU DHABI / WAM The total operating expenses of Emirates Telecommunications Group Company PJSC, Etisalat, amounted to AED 34.6 billion from AED 32.75 billion last year. The 5.6 percent growth, which excludes the royalty fees to the Federal Government, comes on the back of tremendous business development and strong performance by the Group in 18 markets across the world. ...

  Abu Dhabi / Emirates Business For the tenth consecutive year local industry and government bodies will exhibit at Hannover Messe, the world’s largest manufacturing industry trade fair, being held April 24 – 28 in the German provincial capital. Led by the Ministry of Economy and the Department of Economic Development – Abu Dhabi, the 1,300 square metre UAE pavilion ...

  SHARJAH / WAM The Sharjah FDI Office, Invest in Sharjah, operating under the auspices of the government of Sharjah, has announced the hosting of Sharjah-Arab Business Roundtable, a massive step in emphasising Sharjah’s importance in the Middle East’s finance and business sectors. The event is a platform for Invest in Sharjah to showcase the emirate’s investment opportunities in a ...