News

  Bloomberg Canada consumer optimism ended 2016 with a small weekly increase, finishing above where it started the year on rising expectations for the country’s growth prospects. The sluggish economy, hampered by disappointing exports was a focal point for policymakers in Prime Minister Justin Trudeau’s first full year in power. Trudeau expanded transfer payments and cut middle-income taxes, while Bank ...

  Bloomberg American manufacturing expanded in December at the fastest pace in two years, reflecting firmer output and the biggest pickup in orders growth since August 2009. The Institute for Supply Management said that its index increased to 54.7, the fourth straight advance, from 53.2 a month earlier. The median forecast in a Bloomberg survey called for 53.8. Readings above ...

  Bloomberg Apple Inc. is planning to invest $1 billion in SoftBank Group Corp.’s giant new technology fund, adding its name to a growing list of interested parties and giving the iPhone maker a new avenue to tap up-and-coming technologies. Qualcomm Inc. also said it will participate in the fund, but the terms and the amount of its investment are ...

  Bloomberg Volkswagen AG must face claims it misled US investors after installing so-called defeat devices in diesel vehicles used to cheat emissions tests. A San Francisco federal judge also rejected a request to dismiss shareholder claims against former VW Chairman Martin Winterkorn, who said investors in VW’s American depositary receipts couldn’t prove he knew the extent of the company’s ...

  Bloomberg Investment Holding Group, which plans to sell shares on the Qatar Stock Exchange through an offering that opens next week, is seeking acquisitions that will lift earnings even if sales continue to decline. The company will either borrow or issue additional stock to buy new businesses because all of the proceeds from the initial public offering is going ...

  ABU DHABI / WAM The Nation’s Fund has called upon the private sector to play its social responsibility role by effectively supporting the Year of Giving initiative, launched by President His Highness Sheikh Khalifa bin Zayed Al Nahyan. The UAE has always been a model of philanthropy, in line with the values established by the late Sheikh Zayed bin ...

  Fujairah / WAM The Fujairah Foundation for Regions Development and the Ministry of Infrastructure Development (MoID) on Wednesday signed a memorandum of understanding (MoU) for partnership and co-operation to ensure maintenance of citizens’ homes and to carry out joint projects. The MoU was signed by Saeed Mohammed Al Raqbani, Deputy Chairman of the foundation’s Board, and Zahra Al Abboudi, ...

  DUBAI / WAM Dubai Electricity and Water Authority (DEWA), in collaboration with Meraas Holding, inaugurated a new 132/11 kV substation with a total capacity of 150 Megavolt Amperes at Al Quoz 4, to meet the increasing demand for electricity. Commenting on the announcement, Saeed Mohammed Al Tayer, MD and CEO of DEWA, said, “We strive to enhance infrastructure and ...

  DUBAI / WAM Growth momentum in the UAE’s private sector non-oil activity continued to strengthen in December 2016, driven by improving economic conditions, according to Emirates NBD. Output rose at the “sharpest” pace to a 16-month high on back of new orders backed by growth of new export businesses, the bank’s latest purchasing managers’ index (PMI) revealed on Wednesday. ...

  Abu Dhabi / WAM The Executive Committee of Abu Dhabi Executive Council, chaired by Saeed Eid Al Ghafli, approved a number of infrastructure projects worth AED241 million, in line with the wise leadership’s directives to achieve excellence in service provision. The committee approved a development project to increase the capacity of the electricity grid in Al Ain and its suburbs ...