News

  Bloomberg Volkswagen AG’s nearly decade-old plot to cheat US emissions tests — all while marketing its diesel cars as environmentally friendly — was quickly unraveling by 2015. A campaign to mislead regulators was failing so badly that top executives signed off on a script for employees to use when questioned. It didn’t work. The next day, August 19, 2015, ...

  Bloomberg Brazil slashed its benchmark interest rate in a surprisingly aggressive move, as policy makers ratcheted up their efforts to jumpstart the country’s shrinking economy. The central bank board, led by President Ilan Goldfajn, unanimously voted on Wednesday to lower the benchmark Selic rate by three quarters of a point to 13 percent — a move that was predicted ...

  Bloomberg UK tech companies raised more capital than any other European country in 2016, while SoftBank Group Corp.’s acquisition of ARM helped Britain achieve a record year for tech deals, according to a survey conducted by the UK capital’s promotional company, London & Partners. The report, which was based on data compiled by research firm PitchBook Data, showed that ...

  Bloomberg Richemont and Swatch Group AG shares surged on optimism the Swiss watch industry may be bottoming out. Richemont advanced as much as 9.4 percent to a one-year high after a gain in sales of timepieces at the Cartier maker’s own stores signaled that wholesale orders may stop declining. The Geneva-based luxury-goods maker also said sales to retailers are ...

  Bloomberg The unusually cold weather and heavy snowfall that sowed panic in southeastern European power trading this week continued to pressure prices as Greece stopped exporting electricity and neighboring Bulgaria plans to follow suit. While day-ahead power prices from Hungary to Bulgaria fell for a second day from Tuesday’s records, they remained above usual levels as the cold weather ...

  Abu Dhabi / WAM Mohammed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development (ADFD), attended the official opening of the Amman Development Road. The road network connects the capital with the surrounding cities, easing the movement of passengers and goods between Jordan and the countries of the GCC region. In line with the framework of the ...

  DUBAI / Emirates Business Abu Dhabi Ports’ IBTIKAR programme (Arabic for innovation), has been awarded the Gold level accreditation by ideasUK, one of the most prominent associations for the promotion of employee involvement programmes in the UK and beyond. The announcement took place at the annual ideasUK conference held in London lately. Since inception in December 2013, the IBTIKAR ...

  Abu Dhabi / WAM Thai Minister of Foreign Affairs Don Pramudwinai received on Wednesday the UAE’s Assistant Minister of Foreign Affairs and International Co-operation for Political Affairs Ahmed Abdul Rahman Al Jarman and the delegation accompanying him. The Ministers discussed bilateral relations and ways to enhance them, as well as topics of mutual interest. Al Jarman stressed the importance ...

  Abu Dhabi / Emirates Business Abu Dhabi National Exhibitions Company (ADNEC) announced a sponsorship agreement between IDEX LLC and leading national and specialty defence companies including Emirates Defence Industries Company (EDIC), Tawazun Holding and Abu Dhabi Ship Building (ADSB). The agreement endorsed EDIC as the strategic partner and Tawazun Holding as the principle partner for IDEX 2017 and named ...

  Dubai / WAM “The UAE has paved its way into the future and has built a generation of innovative and excellent achievers and leaders who deserve to be celebrated,” said Vice President and Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, as he attended the Mohammed bin Rashid Government Excellence Award ...