News

  Bloomberg Pfizer Inc. said that it received two subpoenas from the US Attorney’s office in Massachusetts related to charities that help Medicare patients afford co-payments for drugs, the latest company to disclose involvement in the probe. The New York-based drugmaker said in a securities filing that it received subpoenas on December 2015 and on July 2016 requesting documents related ...

  Bloomberg Canadian consumer prices surged in January on the back of rising gasoline prices and new carbon levies, bringing inflation to the highest in more than two years. The consumer price index advanced 2.1 percent from a year earlier, Statistics Canada reported Friday from Ottawa, up from 1.5 percent in December. Economists had estimated a gain of 1.6 percent, ...

  ABU DHABI / WAM Ups and downs in the UAE financial markets dominated Thursday’s session amid liquidation margin, driving the general index of Abu Dhabi Securities Exchange up by 0.34 percent or 4,653 basis points while the Dubai Financial Market saw a 0.33 percent drop to 3,634 basis points. The market value of shares traded gained by AED25.5 billion ...

  ABU DHABI / WAM The total value of non-oil trade between Abu Dhabi and Saudi Arabia reached AED17 billion in 11 months during 2016, based on statistics that focussed mainly on the imports through Abu Dhabi’s land, sea, and airports. According to the official statistics, Saudi Arabia came in second place on the list of the countries that traded ...

  ABU DHABI / WAM The MENA region’s finance elite converged on Abu Dhabi to discuss the region’s role in the global economy and international factors shaping the region’s investment landscape. With the UK’s vote to leave the European Union just starting to set in and a new republican administration in the White House, two of the world’s largest economies ...

  ABU DHABI / WAM An AED29.7 million 33/11 kilovolt power station was inaugurated in Tawyeen in the Emirate of Fujairah as part of the Federal Electricity and Water Authority’s (FEWA) plans to meet growing demand for electricity arising from urban, demographic and economic expansion. Mohammed Mohammed Saleh, Director-General of FEWA, said the new 75 MV plant would serve residential ...

  Dubai / Emirates Business Following the conclusion of its Annual General Meeting (AGM), Dubai Islamic Bank (DIB) announced that the assembly approved the distribution of 45 fils per share as cash dividend for 2016, maintaining the strong return to shareholders since it embarked on a growth agenda three years ago. The assembly also approved the bank’s 2016 financial statements. ...

  Abu Dhabi / Emirates Business Emirates Global Aluminium has become the first Middle East-headquartered aluminium company to join the Aluminium Stewardship Initiative, which brings the world’s leading mining and metals companies together with household-name aluminium customers to set global standards for governance, environmental and social responsibility. EGA invested almost US$1 billion since 2010 in environmental technologies and facilities to ...

  DUBAI / Emirates Business The Dubai Future Academy (DFA) launched its first training program – the Future Design Diploma – in its Office of the Future in Dubai, the world’s first 3D-printed office. The program is designed to develop participants’ future forecasting and planning skills, and to render organizations more future-ready. High-ranking executives are set to take part in ...

  DUBAI / Emirates Business ZOOM launched an exciting promotion across its stores in Dubai Metro offering 60 lucky customers the chance to win free Dubai Metro rides for a year. Customers who spend AED20 or more at ZOOM Dubai Metro Stores can win a NoL card charged with AED3,100. Promotion started on February 19 and will continue until April ...