News

  Dubai / Emirates Business Two teachers from the UAE are among the teachers from the Middle East who have been included in the top 50 shortlist for the Varkey Foundation Global Teacher Prize 2017. Now in its third year, the US$1 million award is the largest prize of its kind and is awarded under the patronage of His Highness ...

  Dubai / Emirates Business The Dubai Courts has entered into a strategic partnership with Zajel Courier Services for faster, more efficient and accurate postal service delivery of legal documents to its customers. The collaboration ensures one-day delivery period for Dubai Courts’ individuals, government and non-government customers living in Dubai and two days for those residing in other emirates. The ...

  CAIRO / Reuters Edita Food Industries, one of Egypt’s largest snack food producers, said on Wednesday it was raising prices by between 20 and 50 percent amid higher input costs due to the drop in the value of the Egyptian pound last month. Inflation surged to an eight-year high of 19.4 percent in November, propelled by a steep depreciation ...

  SAN FRANCISCO / AP Uber is bringing a small number of self-driving cars to its ride-hailing service in San Francisco — a move likely to excite the city’s tech-savvy population and certain to antagonize California regulators. The Wednesday launch in Uber’s hometown expands a public pilot program the company started in Pittsburgh in September. The testing lets everyday people ...

  Bloomberg France’s top corporate finance chiefs are getting lessons on the specifics of acquiring startups in a push by a state-backed investment fund to triple tech deals in the country within three years. Chief financial officers from France’s biggest companies, from banks to industrial conglomerates, are learning to pin a price tag to a startup, spot when a company ...

  Bloomberg Amazon Web Services, the cloud-hosting arm of Amazon.com Inc., opened new data centers in the UK as it seeks to stay abreast of competitors in offering cloud computing services to government and health-care customers. The new data centers, announced in a statement on Wednesday, follow decisions by IBM and Microsoft Corp. in the past two months to expand ...

  WASHINGTON / AP The US industrial production dropped sharply in November, mainly because power plants reduced output due to unusually warm weather. The Federal Reserve reported Wednesday that output at America’s factories, mines and utilities fell 0.4 percent last month. It was another sign that American industry is struggling even as the overall US economy looks healthy. The Federal ...

  Bloomberg Line Corp. is planning to shake up its staff and business to build on the 20-plus percent share gain since the messaging company pulled off the tech world’s biggest public offering of the year. Chief Executive Officer Takeshi Idezawa is tapping top lieutenants Jun Masuda and Joongho Shin to lead the hunt for fresh growth ideas. Their new ...

Bloomberg Nowcast Inc., a Japanese financial research and technology startup, has developed a product that estimates economic growth in real time by using satellite images of night-time lights. Based on algorithms that examine changes in the intensity of illumination, as well as a range of published statistics including industrial production and trade, the Tokyo-based company can accurately forecast changes in ...

  Bloomberg South Korea’s youth unemployment rate rose to a record high in November, following political protests that paralyzed the government and led parliament to vote to impeach the president. The unadjusted jobless rate for people aged 25 to 29 rose to 8.2 percent in November, up from 8 percent in October and 7.4 percent a year earlier, Statistics Korea ...