News

  Bloomberg MyTaxi is to begin converting London users of its acquired Hailo app to the German company’s smartphone software, as the unit of Daimler AG begins its fightback against Uber in the UK capital. The Hamburg-based cab-hailing company has already moved more than 17,000 drivers who previously used the Hailo system to the MyTaxi app and plans to start ...

  AP Employers boosted hiring in 13 US states in January, while employment changed little in 36 states. The Labor Department says Alaska is the only state to show a significant decline in jobs, shedding 2,100. Nationwide, hiring picked up in January as employers added 238,000 jobs, a clear improvement over last year’s average gains. A broad rebound in the ...

  Bloomberg General Electric Co. Chief Executive Officer Jeffrey Immelt’s compensation fell 35 percent to $21.3 million last year, as an oil and gas slump suppressed demand for industrial equipment and the company’s shares underperformed the market. Immelt, 61, received a $3.8 million salary last year, unchanged from 2015, according to a proxy statement from the Boston-based company Wednesday. His ...

  Bloomberg NorthVolt AB, the Swedish company founded by a former Tesla Inc. executive, wants to cut the cost of storing power in half with a 4 billion euro ($4.2 billion) lithium-ion battery factory. The Stockholm-based company wants to raise 1 billion euros by 2018, when it plans to break ground on a factory during the second half of the ...

  Dubai / Reuters The United Arab Emirates, one of the Middle East’s largest economies, wants to expand trade ties with faster growing nations in Asia and Africa, a senior official said on Sunday. Gulf Arab states are looking at ways to diversify their economies, including who they trade with, after more than two years of depressed oil prices forced ...

  Dubai / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has approved a number of initiatives and policies related to societal development, voluntary work and promoting the standard of services provided in the emirate. He gave the approval during Executive Council meeting at Etihad Museum. The ...

  Sharjah / WAM Sharjah Islamic Bank (SIB) plans to issue convertible sukuk equivalent to 10 per cent of the lender’s capital, it said on Sunday. Funds raised through the sale will be used by Islamic endowments selected by the government of Sharjah. The bank also authorised a capital increase to around AED2.66 billion, it said in an emailed press ...

  Dubai / WAM Dubai Land Department (DLD) will provide support for the Middle East Facilities Management Conference (MEFMA) through its strategic partnership with the Middle East Facilities Management Association (MEFMA). The sixth edition of the conference will take place from March 13-14 at The Address Hotel, Dubai Marina. DLD has confirmed that a delegation of senior management representatives will ...

  Dubai / WAM The Dubai Chamber of Commerce and Industry (DCCI), has finalised its preparations for its upcoming trade mission to India, which will take place from March 14-17, as part of its Global Business Forum series roadshow. The trade delegation will include dignitaries and senior businessmen from the UAE who will visit Mumbai and Ahmedabad, and meet key stakeholders ...

  Abu Dhabi / WAM The Global Manufacturing and Industrialisation Summit (GMIS) announced a strategic partnership with Jebel Ali Free Zone, Jafza, the UAE’s flagship trade and logistics hub, in a move aimed at accelerating economic growth and boosting trade, especially through manufacturing. The decision to name Jafza, a free zone set up in 1985, as a Strategic Partner for ...