News

  Bloomberg UK unemployment declined and a measure of the number of people in work rose to a record, pushing the labor market closer to “full capacity,” according to the statistics office. The number of jobless fell 7,000 in the fourth quarter to 1.6 million people, leaving the unemployment rate at 4.8 percent, the lowest in more than a decade. ...

  Bloomberg Accor SA, Europe’s biggest hotel operator, is expanding its luxury vacation-rental offering with listings in the Hamptons, Wall Street’s summer playground. The Long Island rentals cost as much as $2 million for the season and are the first launches in the Collections portfolio of Accor’s onefinestay unit, according to a company statement. More sites will be added over ...

  Bloomberg Luxury developer Toll Brothers Inc. has a deal for those shopping for a condo in Manhattan: buy something soon, and we’ll pay the taxes on your purchase. The publicly traded homebuilder is offering to pay the city transfer tax and the New York state “mansion tax” — an effective discount totaling almost 2.5 percent — on deals made ...

  Bloomberg A UK energy-storage startup is aiming to take on Tesla Inc. in the competition to outfit homes with affordable back-up battery power. Powervault Ltd. is preparing to boost production of its lead- and lithium-ion batteries, said Managing Director Joe Warren. The London-based company is targeting sales of 50,000 units a year by 2020, up from about 1,000 this ...

  Dubai / WAM As part of its initiative for the Year of Giving, the Abu Dhabi Businesswomen Council (ADBWC) launched the third campaign to spread the culture of entrepreneurship in Abu Dhabi, under the theme “Our social responsibility to serve the nation”. The drive will feature more than 45 activities, as well as general and specialised training courses to raise ...

  Dubai / WAM The Dar Al Ber Society, as part of its support for the “Year of Giving” initiative that was launched by President His Highness Sheikh Khalifa bin Zayed Al Nahyan, successfully collected up to AED19.4 million to build 156 mosques, both locally and abroad. The “Build a Mosque” initiative that was recently launched has not only been a ...

  Dubai / WAM Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA) met John Chambers, Executive Chairman of Cisco, to discuss enhancing cooperation, and implementing smart solutions to achieve the objectives set by Dubai Government towards the future of smart cities. During the meeting was held on the sidelines of the recently concluded World Government ...

  Dubai / WAM The International Golden Group (IGG) will soon open the IGG Advanced Industries at Tawazun Industrial Park (TIP) in Abu Dhabi, said Mohammed Hilal Al Kaabi, Chairman at International Golden Group. “The industrial city compiles with the offset program that promotes the transfer of technology and know-how to the UAE, by bringing the latest technology. The purpose of ...

  Sharjah / WAM The number of participants in the 14th edition of Sharjah award for voluntary work increased substantially as compared to the figures of last year, according to a report issued by the award’s executive management. The award attracted 159 entries this year, an impressive 127 percent growth as compared to the 70 participants in 2015. Participants are competing ...

  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, separately received Neal Blue, Chairman of General Atomics, and Thomas Kennedy, Chairman and Chief Executive Officer of the Raytheon Defence Company, at Al Shati Palace on Saturday. The two major United States (US) defence ...