News

  Bloomberg Sales of London homes under construction last year dropped to the lowest level since 2012, leaving developers with a record number of unsold properties. Purchases of homes currently being built fell 22 percent to 20,695 from a year earlier, according to a report by Molior London seen by Bloomberg. The number of unsold properties that are under construction ...

  Bloomberg International Business Machines Corp. has climbed above the price that Warren Buffett paid for shares in the computer company, reversing more than $2 billion in paper losses for his Berkshire Hathaway Inc. IBM rose 2.2 percent to $170.55 at 4 p.m. Friday in New York after giving 2017 profit guidance on Thursday that was higher than analysts’ estimates. ...

  Abu Dhabi / WAM Dr Abdullah bin Mohammed Belhaif Al Nuaimi, Minister of Infrastructure Development and Chairman of the Zayed Housing Programme, on Thursday met Kai Mykanen, Finland’s Minister of Foreign Trade and Development, and Riitta Swan, Finnish Ambassador to the UAE, to discuss ways of promoting cooperation between the two countries. The UAE Minister briefed the Finnish officials ...

  Abu Dhabi / Emirates Business Masdar City’s Eco-Villa, a pilot project incorporating water and energy-saving technologies, has been completed and a UAE national family will soon live in the prototype sustainable dwelling, it was announced on Thursday at Abu Dhabi Sustainability Week 2017. The 405 square-metre Eco-Villa is the first villa to achieve a 4 Pearl rating according to ...

  Abu Dhabi / WAM Al-Reyadah, the joint venture between the Abu Dhabi National Oil Company (ADNOC) and Masdar, Abu Dhabi’s Future Energy Company, was the focus of attention at the World Future Summit (WFES). Discussing the increasingly important role of Carbon Capture and Storage (CCS) in mitigating greenhouse gas emissions, the forum was told that CCS operations like Al-Reyadah ...

  Dubai / WAM Middle Eastern investment banking fees reached US$820.8 million during 2016, an 18 per cent increase compared to fees recorded during 2015 and the highest annual fee total in the region since 2008, according to the annual investment banking analysis for the Middle East region, by leading business information provider Thomson Reuters. “Bolstered by Saudi Arabia’s $17.2 billion ...

  Abu Dhabi / WAM The Ministry of Finance (MoF) participated in the Second Annual Under-Secretaries of Arab Ministries of Finance meeting which commenced in Abu Dhabi. The meeting, which was organised by the Arab Monetary Fund, AMF, in cooperation with the MoF, was attended by Younis Haji Al Khoori, Under-Secretary of MoF, and Khalid Ali Al Bustani, Assistant Under-Secretary for ...

  Dubai / WAM Mohammed Abdullah Al Jarman, General Manager of Emirates Transport (ET) launched a demonstration version of a smart application that will enable drivers to request roadside assistance in the event of a breakdown, or other car-related trouble. According to Al Jarman, the new application is in the pilot phase and will currently only be available to serve the ...

  Dubai / WAM To promote road safety in the UAE, the UPS Foundation has announced an initial grant and in-kind commitment of more than US$40,000 to the Emirates Foundation, an independent philanthropic organisation set up by the Abu Dhabi government to facilitate public-private funded initiatives to improve the welfare of youths across the UAE. UPS and Emirates Foundation volunteers will ...

  Dubai / WAM Dubai-government owned Emirates National Oil Company Group, ENOC, on Thursday announced that it has appointed a new board of directors for its wholly-owned subsidiary, Dragon Oil. HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance, was selected as the company’s new chairman, the company said in a statement. Saeed Mohammed ...