Bloomberg China’s government has conveyed its concern over Foxconn Technology Group billionaire Terry Gou’s plan to expand the Apple Inc. assem-bler’s operations in the US after President-elect Donald Trump takes office, people familiar with the matter said. A high-ranking Chinese official recently expressed Beijing’s concerns directly to Gou, the people said, asking not to be identified because the conversation ...
Read More »News
Europe takes steps towards ‘universal basic income’
PARIS / AP I am, therefore I’m paid. The radical notion that governments should hand out free money to everyone — rich and poor, those who work and those who don’t — is slowly but surely gaining ground in Europe. Yes, you read that right: a guaranteed monthly living allowance, no strings attached. In France, two of the seven ...
Read More »European auto sales jump to 9-year high as Renault gains
Bloomberg European car sales rose 6.5 percent to a nine-year high in 2016, propelled by pent-up demand amid a recovering economy, as French manufacturer Renault SA took advantage of market leader Volkswagen AG’s diesel-emissions scandal to leap from third place to second. Registrations increased to 15.1 million vehicles last year from 14.2 million in 2015, the Brussels-based European Automobile ...
Read More »GM set to announce $1 billion US investment plan
Bloomberg General Motors Co. is set to announce a $1 billion US investment plan, joining Hyundai Motor Co. and Kia Motors Corp. among the latest automakers to outline their spending amid pressure from President-elect Donald Trump to create jobs. The largest US automaker plans to say on Tuesday it will invest in US plants over several years, and expects ...
Read More »Saudi to launch $30-50bn renewable energy programme
ABU DHABI / Reuters Saudi Arabia will launch a renewable energy programme in coming weeks that is expected to involve investment of between $30 billion and $50 billion by 2023, Energy Minister Khalid al-Falih said on Monday. Falih, speaking at an energy industry event in Abu Dhabi, said Riyadh would start the first round of bidding within weeks for ...
Read More »National Media Council to set up UAE pavilion at EXPO 2017 Astana
ABU DHABI / WAM The National Media Council will start work on the design and installation of the UAE pavilion in February at the EXPO 2017 Astana, in Kazakhstan, after it received the site from the organising committee. The expo, themed ‘Future Energy’ will be held from June 10 to September 11 in the capital city of Astana. The ...
Read More »Abu Dhabi Ports launches HSE award
ABU DHABI / Emirates Business As part of its efforts to reinforce safety practices in workplace, Abu Dhabi Ports, the master developer, operator and manager of the Emirate’s commercial and community ports as well as Khalifa Industrial Zone, has launched a health, safety and environment (HSE) award. Aimed at recognising the contributions of individuals, government and private entities and ...
Read More »Trade finance in DIFC surges
DUBAI / WAM The Dubai Financial Services Authority (DFSA) published a Trade Finance Report detailing key findings of a review of trade finance activities carried out in and from Dubai International Financial Centre (DIFC). The review assessed the quality of systems and controls, in particular measures to mitigate trade-based money laundering risks, at banks and other financial service providers ...
Read More »Mohamed honours Zayed Future Energy Prize winners
Abu Dhabi /Â WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, presented the Zayed Future Energy Prize to nine winners during the 2017 awards ceremony in Abu Dhabi on Monday, in the presence of six heads of state. Nine pioneers in renewable energy and sustainability ...
Read More »VP established culture of excellence in govt sector: Ghobash
Dubai /Â WAM Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, has established a culture of institutional excellence in government organisations and also a philosophy based on competition and strategic planning to meet customer expectations that reflect positively upon the UAE as a global model of excellence, Saqr bin Ghobash Saeed ...
Read More »