News

  Abu Dhabi / Emirates Business Tourism Development & Investment Company (TDIC), the master developer of major tourism, cultural and residential destinations in Abu Dhabi, announced on Saturday that it will be unveiling a compelling selection of residential units on Saadiyat Island at Cityscape Abu Dhabi 2017, taking place from April, 18 – 20 at the Abu Dhabi National Exhibition ...

  Dubai / WAM Dubai Municipality announced the completion of the first phase of the Hatta Hiking project, which aims to boost tourism activity in the region, as part of the Hatta Comprehensive Development Plan. The municipality said that the first phase of the Hatta Hiking project covers 9 km. The hiking trail, developed under the project, has been designed in ...

  Sharjah / Emirates Business Sharjah Healthcare City (SHCC) and Arab German Chamber of Commerce and Industry (GHORFA), have signed a landmark cooperation agreement. This agreement will establish ties and extend cooperation in promoting the Sharjah Healthcare City project situated in Sharjah. GHORFA will assist in promoting Sharjah Healthcare City in Germany and other European countries. The cooperation agreement was ...

  Abu Dhabi / Emirates Business The Emirates Nuclear Energy Corporation (ENEC) and Nawah Energy Company (Nawah) welcomed 117 of the UAE’s overseas diplomats to Barakah Nuclear Energy Plant during a tour of the project, which included a briefing on the UAE’s Peaceful Nuclear Energy Program and the latest construction and commissioning milestones. The UAE Ambassadors and Heads of Missions ...

  Bloomberg The global oil market is moving closer to balance even as increases in US oil production push prices down in the short-term, Saudi Arabian Oil Co. Chief Executive Officer Amin Nasser said. “This is not a good indication of where the market is likely to be headed going forward, as the large new production capacity and investment we ...

  Bloomberg Wall Street banks’ growing optimism about the energy industry is the latest boost for US oil and natural gas producers already enjoying higher prices. JPMorgan Chase & Co., Wells Fargo & Co. and Citigroup Inc. said in their first-quarter earnings results that rising oil prices have helped them free a combined $370 million they previously set aside to ...

  Bloomberg The South Korean trial of Samsung heir Jay Y. Lee for alleged bribery took an unusual twist as prosecutors said the company tried to conceal its gift of a 1 billion won horse ($885,000) by exchanging it for another animal. Prosecutors disclosed a series of text messages, emails and memos among Lee’s lieutenants to support allegations Samsung Electronics ...

  Bloomberg The US stopped short of branding China a currency manipulator, but urged the world’s second-largest economy to let the yuan rise with market forces and embrace more trade. No major trading partner is manipulating its currency for an unfair trade advantage, according to the first foreign-currency report released by the Treasury Department under President Donald Trump. It kept ...

  Bloomberg Abbott Laboratories agreed to consummate its troubled acquisition of Alere Inc. in a deal that values the medical test maker’s equity at $5.3 billion, shaving $500 million from the original price and ending months of legal maneuvering that appeared headed for a Delaware court. Alere shareholders will get $51 a share in cash, according to a statement. While ...

  Bloomberg Growth in Americans’ wages has been leveling off lately, contrary to expectations that a steadily falling jobless rate will quickly lead to a sustained acceleration. Blame it on dismal productivity and lingering, albeit diminishing, slack even with unemployment at an almost 10-year low of 4.5 percent. The government’s most recent jobs report showed the underemployment rate — the ...