News

  Bloomberg Google, Facebook Inc. and other Internet companies will be covered by strict new European Union privacy rules that seek to limit access to consumers’ data. The EU proposed in a draft law unveiled in Brussels Tuesday giving online users more control of their settings and limiting the “overload of consent requests” for cookies people encounter when browsing the ...

  Bloomberg BMW lost its crown as the world’s biggest luxury-car brand to Mercedes-Benz, ending its reign after more than a decade amid a cluttered lineup of aging models. The Munich-based manufacturer sold 80,000 fewer cars last year than the Daimler AG brand, which drew younger buyers with sporty redesigns and a bigger array of increasingly popular SUVs. A rebound ...

  DUBAI / WAM Dubai-based developer Nakheel and Thai hotel group, Centara Hotels and Resorts, on Monday signed a joined venture agreement to create a 550-room, AED500 million beachfront resort with waterpark on Deira Islands in Dubai. Under the agreement, signed in Bangkok by Nakheel Chairman, Ali Rashid Lootah, and Centara Chairman, Suthikiati Chirathivat, the two companies will deliver an ...

  ABU DHABI / WAM The National Bank of Abu Dhabi (NBAD) announced the successful placement to institutional investors of a 30-year senior unsecured Formosa Bond, for a total nominal amount of US$885 million. The transaction follows NBAD’s inaugural US$696 million public Formosa Bond in October last year, the first 30 year Formosa Bond from the MENA region, which brings ...

  AJMAN / WAM The executive team of the Ajman Electronic Government discussed on Monday the progress in Ajman’s Digital Transformation Plan 2017-2022 and the mechanisms and initiatives to implement the plan in various operational sectors in the emirate. The team also reviewed the first 100-day plan of action, which aims to transform 30 top-priority services into e-services in sync ...

  DUBAI / WAM Dubai Financial Market (DFM) briefed a Kazakh delegation on Dubai’s leading position as a dynamic capital markets hub as well as DFM’s active role in further strengthening this position. This came up during the visit of a delegation from Kazakhstan’s Astana International Financial Centre (AIFC) to DFM, where the parties explored potential areas of cooperation. Headed ...

  ABU DHABI / WAM HH Sheikh Hamed bin Zayed Al Nahyan, Chief of the Abu Dhabi Crown Prince’s Court, and Hans Joerg Schelling, Austrian Minister for Finance, met on Monday in Abu Dhabi to discuss how best to enhance friendly relations and co-operation between the UAE and Austria. The duo discussed areas of co-operation and co-ordination in the economic, ...

  Dubai / WAM Relevant authorities should intensify efforts and employ capable human resources to focus on conducting scientific researches and studies in the healthcare sector, and keep pace with the latest developments in medical technology and equipment, treatment techniques, medicines and rare surgeries that all contribute towards enhancing public health, urged His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice ...

Dubai / WAM HH Sheikha Hind bint Juma Al Maktoum, Chairperson of the UAE Food Bank, reviewed the initial strategic plan for the initiative, including the bank’s short-term goals and long-term vision of evolving into a fully integrated ecosystem to engage public and private sectors at local and regional levels. Hussain Nasser Lootah, Director-General of Dubai Municipality and Deputy Chairman of ...

  Dubai / WAM The UAE announced on Monday the results of the economic indicators that chart the nation’s accomplishments in foreign investment, innovation and entrepreneurship, development, competitiveness and the per capita gross national product (GNP), which reflect the UAE 2021 Vision to become among the best countries in the world during its 50th anniversary. The ratio of net foreign direct ...