News

  Bloomberg Fiat Chrysler Automobiles NV is under investigation by the US Justice Department over its alleged failure to disclose software that violated emissions standards, according to people familiar with the matter, another legal hurdle for a company already under criminal scrutiny for its sales practices. The possibility of a criminal action over diesel emissions violations comes after the Environmental ...

  Bloomberg All eyes are on President-elect Donald Trump’s imminent arrival at the White House, and whether his administration follows thro- ugh on an agenda that — when it comes to the economy — features a growth target almost double that of recent years. Outside the headlines, however, are demographic pressures reaching levels not seen since the Great Depression. That ...

  Bloomberg The US Supreme Court agreed to hear a dispute that could help clarify the steps needed to get low-cost alternatives to pricey biotechnology drugs on the market. It will be the first time the high court has agreed to interpret a 2010 provision of Obamacare that enabled the US Food and Drug Administration to approve biosimilars, which are ...

  Bloomberg Italian industrial output increased more than estimated in November, signaling a possible acceleration in economic activity. Production rose 0.7 percent from October when it increased a revised 0.1 percent on a monthly basis, statistics agency Istat said in Rome. The median estimate in a Bloomberg survey of 20 analysts called for a 0.2 percent gain. On an annual, ...

  Bloomberg Home buyers in Brooklyn competed for a record-low number of listings in the fourth quarter, driving up prices in the New York borough that’s historically been seen as a refuge from Manhattan’s high costs. Purchases in Brooklyn rose 22 percent from a year earlier to 2,582, while the median price of those deals climbed 15 percent to a ...

  DUBAI / WAM Dubai Financial Market (DFM) announced that the value of shares bought by foreign investors, or non-UAE nationals, this week reached about AED2.62 billion, while value of stocks they sold stood at AED2.64 billion, with net foreign investment on the market reaching AED14.1 million during the period, as aggregate sell. Value of shares bought by foreigner investors ...

  ABU DHABI / Reuters More mergers are likely in Abu Dhabi as institutions there tie up in ways that are positive for their business, Khaldoon Khalifa al-Mubarak, group chief executive of Abu Dhabi state fund Mubadala, said on Thursday. “There’s an appetite for more mergers. I expect to see mergers continue in a positive way in Abu Dhabi,” Mubarak ...

  DUBAI / WAM Drydocks World has yet again attained a 5 star grading from the British Safety Council, on adopting international best practice standards in occupational health and safety. The Drydocks says it strives to consistently improve and achieve sustainable business growth while always upholding the yards core value of a safe work environment. The yard achieved an audited ...

DUBAI / WAM Dubai Electricity and Water Authority (DEWA) organised a hackathon challenge to encourage its employees to innovate and create new ideas to develop DEWA’s services and achieve the happiness of its customers. This is in line with the directives of the wise leadership to encourage and enhance innovation across all areas. It also supports DEWA’s efforts to instill ...

  Abu Dhabi / WAM The Global Energy Forum, which is being held for the first time in the region, launched in Abu Dhabi on Thursday in the presence of Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy, and Dr. Sultan bin Ahmad Sultan Al Jaber, Minister of State and CEO of the ADNOC Group. Held under the patronage ...