News

  Bloomberg British households reined in their borrowing in December, casting further doubt over the strength of consumer spending this year. Unsecured lending rose by 1 billion pounds ($1.2 billion), the least since May 2015 and well below the expectations of economists. On an annual basis, credit growth slowed to 10.6 percent from 10.8 percent in November, the Bank of ...

  Bloomberg Coca-Cola Co., the world’s largest seller of soft drinks, said it opposes the travel ban issued by President Donald Trump and will assess any effect it has on employees, joining the thin ranks of companies publicly condemning the policy. “Coca-Cola Co. is resolute in its commitment to dive- rsity, fairness and inclusion, and we do not support this ...

  Dubai / Emirates Business Imdaad, the GCC’s leading integrated facilities management (FM) company based in Dubai, revealed that it will invest AED60 million this 2017 to achieve growth via targeted acquisition of local firms. The announcement was made during a press conference on Tuesday, at the Jumeirah Zabeel Saray, Palm Jumeirah in Dubai where the leading FM company also ...

  Abu Dhabi / Emirates Business The Dubai Airport Freezone Authority (DAFZA) is showcasing its comprehensive corporate packages designed to drive regional and global business growth during its participation at Arab Health 2017, the latest edition of the Middle East’s largest healthcare exhibition and medical congress running from January 30 to February 2 at the Dubai International Convention and Exhibition ...

  Dubai / Emirates Business Yosouf Hamad Al Shaibani, Director General of the Mohammed bin Rashid Space Centre (MBRSC), announced that the centre has submitted a request to the International Astronautical Federation (IAF) to host the 71st session of the International Astronautical Congress (IAC), which will be held in 2020, in coordination with the UAE Space Agency. Al Shaibani made ...

  Dubai / Emirates Business The Dubai Financial Services Authority (DFSA) launched a consultation on its proposed framework for regulating loan-based crowdfunding platforms. The consultation is the first in a series of papers which set out the DFSA’s approach to the regulation of crowdfunding platforms and the financial technology (FinTech) industry within the Dubai International Financial Centre (DIFC). The DFSA ...

  Dubai / Emirates Business Dubai’s growing appeal as a destination for staging and attending events was recently recognised at prestigious awards, reflecting the combined efforts of the emirate’s public and private sectors to continuously expand and evolve the city’s offering across both business and leisure events, festivals, meetings and conferences. For the fifth time since 2011, Dubai was named ...

  Abu Dhabi / Emirates Business Etihad Airways is launching a third daily flight on the Abu Dhabi – Bengaluru route, effective March 26. The triple daily schedule will provide greater choice to local passengers travelling between the two cities, and improved connectivity to destinations across the GCC, North America and Europe via the airline’s Abu Dhabi hub. The capacity ...

  Bloomberg President Donald Trump’s clash with Silicon Valley over immigration is about to become even more contentious. After the new president banned refugees and travelers from seven predominantly Muslim countries, Google, Facebook, Salesforce, Microsoft and others railed against the move, saying it violated the country’s principles and risked disrupting its engine of innovation. Trump’s next steps could strike even ...

  Bloomberg French growth accelerated in the fourth quarter as part of a wider economic expansion in the region that is fueling a debate about how quickly the European Central Bank should trim stimulus. Gross domestic product rose 0.4 percent in the October-December period, national statistics office Insee said. That matches the median estimate in a Bloomberg survey and compares ...