News

  Paris / AFP Volkswagen boss Matthias Mueller has said that the troubled German automaker is using “all available resources” to work its way through the “dieselgate” emissions cheating scandal which has engulfed it. One year after the scandal erupted, it “is and will remain an incisive turning point, a pivotal event in our history,” VW chief executive Mueller said ...

  London / AFP Italian Prime Minister Matteo Renzi on Thursday said Britain should not expect special treatment in Brexit talks, as the British trade minister warned the EU would hurt itself if it imposed tariffs. Renzi’s comments are the latest from a European leader to highlight the tough stance Britain is likely to face when trying to negotiate access ...

  Washington / AFP The US economy grew faster than originally thought in the second quarter of this year, with Commerce Department figures released on Thursday showing a 1.4 percent annual rate. The previous estimate had been a gloomier 1.1 percent. Thursday’s figures surpassed an analyst consensus, which had called for a revision to 1.3 percent. In releasing the new ...

  Frankfurt / AFP German inflation in September jumped to its highest level since May 2015, data showed Thursday, in welcome news for the European Central Bank’s efforts to boost prices with a massive stimulus programme. Inflation rose by 0.7 percent this month compared to the year before, according to preliminary figures from Germany’s federal statistics office Destatis. The figure ...

  Bloomberg Bond investors are giving Chile’s Masisa SA a vote of confidence as the wood-panel maker unloads assets, pays debt and becomes less reliant on Venezuela. Its $200 million of notes due in 2019 have returned 27 percent in 2016, almost twice the average for emerging-market corporate debt. The junk-rated securities sank to a record low last year on ...

  The Hague / AFP Dutch authorities are taking the US makers of Pokemon Go to court, after the company failed to meet pleas to stop hordes of fans flocking to protected beaches. Since the game was launched in The Netherlands, thousands of fans have been crowding the vast, windswept beaches of Kijkduin where hundreds of the game’s most popular ...

  Dubai / WAM The Ministry of Finance (MoF) recently signed an agreement with the Emirates Development Bank (EDB) on the Sheikh Mohammed bin Rashid Al Maktoum Fund to Finance Innovation, aimed at supporting the UAE’s transition to a knowledge- based economy and achieving prosperity and sustainability for the country. Saeed Rashid Al Yateem, Assistant Under-Secretary of Resources and Budget Sector ...

Fujairah / WAM The Fujairah municipality launched the ‘My Project Licence’ that allows citizens of the municipality to start business activities from home, as per the decision of H.H. Sheikh Mohammed bin Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah. The civic body issued 17 licences in record time, said Abdullah Al Hantoubi, deputy-director of the municipality. The licenced activities ...

  Dubai / WAM The Emirates Environmental Group (EEG) on Thursday hosted its third panel discussion on “Responsible Consumption and Production of Water”, aimed at spreading awareness amongst its stakeholders to help build their capacities and enable them to take informed decisions. Organised jointly with Arabia CSR Network, the event was held in association with the United Nations Environment Programme, UNEP, ...

  Abu Dhabi / WAM Abu Dhabi-based Royal Jet has appointed Rob DiCastri as President and CEO of the company. DiCastri joins Royal Jet with more than 25 years of international leadership experience in aviation and hospitality, including over 10 years in the Middle East where he played a key role in establishing National Air Services (flynas) / Net Jets Middle ...