News

  Bloomberg The UK ended 2016 on a high, recording an unexpected acceleration in growth thanks to the biggest boost from net trade in almost six years. The question is whether this new economic mix can persist, with the weaker pound helping to deliver a continued export pickup, offsetting a smaller contribution from shoppers who are about to be squeezed ...

  Bloomberg PSA Group laid out its vision for integrating General Motors Co.’s struggling European operations, including slashing costs, combining development efforts and exploiting the appeal of German engineering. Chief Executive Officer Carlos Tavares vowed to revive GM’s Opel unit by carrying out a similar restructuring that brought the maker of Peugeot and Citroen cars back from the brink over ...

  Bloomberg The euro is slipping again, after Wednesday’s modest bounce proved too weak to last. Concerns about European political risks that were recently focused on the second round of France elections are now broadening to include the first round and even next month’s Dutch vote. Investors lightened short-euro positions in the spot market Wednesday as the Bloomberg Euro Index ...

  ABU DHABI / WAM Abu Dhabi Ship Building Company (ADSB) and Lockheed Martin announced the signing of a Memorandum of Understanding (MoU) to cooperate in providing support services for UAE Military maritime assets. The MoU was signed by Dr Khaled Al Mazrouei, CEO of Abu Dhabi Ship Building, and Joe North, Vice President of Littoral Ship and Systems at ...

  DUBAI / WAM Borse Dubai and Nasdaq announced the signing of a new agreement to bolster the technological infrastructure of Dubai’s stock exchanges, Dubai Financial Market (DFM), and Nasdaq Dubai, and further improve post-trade practices. Under the agreement with Borse Dubai, the parent company of DFM, Nasdaq will deliver a new INET-powered, multi-asset trading technology engine, the Nasdaq Matching ...

  ABU DHABI / WAM The Abu Dhabi National Oil Company (ADNOC) signed an agreement with Vitol, the world’s largest independent energy trader, for the sale of up to 528,000 tonnes per year of LPG over the next 10 years. The long-term agreement, backdated to January 1, 2017, and which will expire on the December 31, 2026, was signed on ...

  Abu Dhabi / WAM Staff Brigadier-General Rashid Mohammed Al Shamsi, Official Spokesperson of IDEX 2017, announced 20 new deals worth over AED 3.4 billion at a press conference on day four of the 13th edition of the International Defence Exhibition and Conference, IDEX 2017. The national companies were awarded 13 deals, while the remaining seven deals went to international companies. ...

  Abu Dhabi / WAM Atlas Telecom, a full service communications technology integration and security solutions company, has launched its breakthrough coastal surveillance and protection systems for UAE and GCC Security authorities at the ongoing International Defence Exhibition and Conference (Idex 2017) in Abu Dhabi. The company threw spotlight on its newest and most advanced range of Vessel Identification System (VIDS) ...

  Abu Dhabi / WAM Milrem, an Estonian military technology solutions provider, has expressed its intention to build a production unit to develop and arm unmanned ground vehicles (UGV) in the UAE. “We, as a company believe in cooperation, and if the UAE Armed Forces start using these vehicles, we will produce these systems in the UAE,” Kuldar Vaarsi, Chairman of ...

  Abu Dhabi / WAM Abu Dhabi National Exhibitions Company (ADNEC) signed on Wednesday a partnership agreement with Abu Dhabi Autonomous Systems Investments (ADASI), the region’s first reliable one-stop solutions provider within the autonomous systems industry. The agreement mandates the participation of ADASI as a strategic partner in the 2018 editions of the Unmanned Systems Exhibition and Conference (UMEX) and Simulation ...