News

  Bloomberg For MetLife Inc. Chief Executive Officer Steve Kandarian, the Donald Trump era looks like just what he’s been waiting for. After complaining for years about capital standards, proposed sales restrictions and low bond yields that pressure investment income on the company’s fixed-income portfolio, the CEO sees promise. “The prospect of higher interest rates and a more favorable regulatory ...

  Bloomberg Tesla Motors Inc.’s Model S, once touted by the company as achieving a record-high safety score, fell short of a top designation an insurance group has awarded to 42 other new models on the market. The Model S sedan earned an acceptable rating in one of the Insurance Institute for Highway Safety’s five crash tests, a level shy ...

  Dubai / WAM DIFC Courts, Dubai’s establis- hed English-language commercial courts, handled cases totalling AED5.85 billion (US$1.59 billion), up 5 percent year-on-year, in 2016. The main Court of First Instance (CFI) handled approximately the same number of cases as in 2015 but saw the average value of each increase by 17 percent to AED104.58 million. The total value of ...

  RAS AL KHAIMAH / WAM Foreign trade in Ras al-Khaimah grew by 38 percent between 2011 and 2015, according to a study published by the local Chamber of Commerce and Industry, called “An analytical study about foreign trade in the emirate of Ras al-Khaimah”. Dr Ahmed Rashed Al Shamili, Assistant Director-General for Commercial Services and Business Development, said the ...

  ABU DHABI / WAM The Economic Committee of Abu Dhabi Executive Council’s General Secretariat organised a workshop for reviewing the results and recommendations of the study on the legislation of Emiratisation in the private sector. The year-long study, held under the Abu Dhabi Department of Economic Development, was conducted by a team whose members came from different organisations. It ...

  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, in his capacity as Chairman of the Executive Council of Abu Dhabi, has issued a resolution reconstituting the board of directors of Abu Dhabi Ports Company under the chairmanship of Dr Sultan Ahmed ...

  Dubai / WAM The Giving Retreat was held on Wednesday under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The retreat included the largest brainstorm of its kind in the UAE, bringing together over 100 experts, stakeholders, officials and humanitarian workers in an interactive dialogue ...

  Dubai / WAM Nakheel announced on Wednesday its highest annual net profits in the company’s history: AED4.96 billion in 2016 – a 13 per cent increase on the 2015 net profit of AED4.38 billion. Nakheel generated a net profit of AED955 million for the last quarter of 2016 – up 22 per cent on the AED781 million posted for the ...

  Abu Dhabi / WAM The Ministry of Finance (MoF) announced that it received certification for the PAS 99:2012 Integrated Management System, including ISO 20000, ISO 27001, and ISO 22301. Commenting on the announcement, Musabah Mohammed Al Suwaidi, Assistant Under-Secretary for Support Services Sector at MoF, said, “This achievement falls in line with the ministry’s continuous commitment to adopt the best ...

  Sharjah / Emirates Business The seventh annual Sharjah Light Festival (SLF) kicks off yesterday in University City Hall in Sharjah City, and will go on for 10 days from February 2 to 11, covering 14 locations across the emirate. Initiated, managed, and produced by the Sharjah Commerce and Tourism Development Authority (SCTDA) – under the patronage and in the ...