News

  Bloomberg Euro-area manufacturing accelerated for a sixth month in February amid signs that inflation pressures may be starting to build as factories struggle to keep up with demand. A Purchasing Managers’ Index climbed to 55.4, IHS Markit said. The reading compares with a flash estimate of 55.5 and is up from 55.2 in January. Companies raised output charges at ...

  Bloomberg Foxconn Technology Group will begin construction this month on a $9 billion display plant in southern China, as billionaire founder Terry Gou makes a big bet on demand for giant-sized TV screens in healthcare and homes. Gou and the Taiwanese company are looking to capitalize on the technology and branding acquired with the purchase of Sharp Corp. last ...

  Bloomberg Johnny Sandelson, the property entrepreneur developing a luxury-home project for seniors in London’s Chelsea district, is in talks to buy a 100 million-pound ($124 million) plot of land in Kensington from a Jesuits group, two people familiar with the plan said. Sandelson and a group of South African investors have agreed a deal to buy the 2.7-acre (1.1-hectare) ...

  Bloomberg Salesforce.com Inc. gave a first-quarter revenue forecast that fell short of analysts’ projections, hampered by rising competition from rival business-software makers with their own cloud products. Revenue in the period ending in April will be $2.34 billion to $2.35 billion, the San Francisco-based company said in a statement. Analysts projected $2.37 billion, according to data compiled by Bloomberg. ...

  DUBAI / WAM The Ministry of Finance (MoF) held the first meeting of the Government Financial Policy Coordination Council for 2017 in its premises in Dubai. The meeting was headed by Younis Haji Al Khoori, Under-Secretary of MoF and Chairman of the Government Financial Policy Coordination Council; in the presence of Saeed Rashid Al Yateem, Assistant Under-Secretary of Resources ...

  DUBAI / WAM Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, has announced the release of his new book, titled ‘Ta’mulat fi Asa’adah Wl Ejabia’ (Reflections on Happiness and Positivity). Making the announcement, he said, “The book includes lessons, examples and stories based on a different life philosophy: ...

  DUBAI / Emirates Business Dubai Exports, the export promotion agency of the Department of Economic Development (DED), is all set to take major strides in connecting Dubai trade to new markets across Africa, Central Asia, Europe and South America in 2017 after achieving outstanding success in its market outreach and capability building programmes in 2016. In 2016, Dubai Exports ...

  MADRID / WAM The Global Manufacturing and Industrialisation Summit (GMIS) and the Spanish Confederation of Employers’ Organisations (CEOE) signed a strategic Memorandum of Understanding (MoU) at a high-level meeting at CEOE’s headquarters in the Spanish capital, Madrid. The agreement will see the two partners collaborate on promoting environments that are more conducive and supportive of innovation and disruption, in ...

  DUBAI / WAM Dubai Electricity and Water Authority (DEWA) won four awards at Gulf Sustainability and CSR (Corporate Social Responsibility) Awards. This new achievement demonstrates that DEWA is socially-responsible and uses world-class methods to preserve natural resources, to achieve sustainable devel- opment. DEWA got awards in the categories of Best sustainability and Education programme for its Asher initiative, Best ...

  Sharjah / WAM Hamriyah Free Zone Authority, launched its flagship project ‘Sharjah Food Park’, the region’s first and largest city dedicated to food & commercial industries, comprising of warehouses, offices and labour accommodations on a total area of over 11 million square feet. The authority announced that its new world class facility is dedicated to importing, exporting, holding and re-packaging ...