News

  Bloomberg Pacific Investment Management Co. has finally stopped the bleeding. Third-party clients added a net 4.7 billion euros ($5.1 billion) in new money to Newport Beach, California-based Pimco last quarter, according to a statement by its parent Allianz SE. The inflows cap three years of net redemptions that have cut assets at the money manager by about a quarter, ...

  Bloomberg European Union Trade Commissioner Cecilia Malmstrom said EU-US negotiations on a free-trade agreement would probably be put on hold in definitely because of Donald Trump’s victory in the American presidential election. Trump lashed out at market-opening initiatives such as the planned Trans-Atlantic Trade and Investment Partnership, or TTIP, during his successful campaign to succeed US President Barack Obama. ...

  Bloomberg BMW AG’s top labour representative offered a rare public rebuke of the company’s leadership, warning that the luxury-car maker risks falling behind rivals in the race to develop battery-powered cars. “Management has been slow to decide on investing in more electric models,” Manfred Schoch, who’s also deputy chairman of BMW’s supervisory board, said in an interview in Nuremberg, ...

  CAIRO / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, held talks with Egyptian President Abdel-Fattah Al-Sisi here on Thursday regarding the latest regional and international issues of mutual concern and ways to bolster strategic co-operation. The Abu Dhabi Crown Prince is currently visiting ...

  TIRANA / WAM Sultan Mohammed Majed Al Ali, UAE Ambassador to Greece and Non-resident Ambassador to Albania, discussed on Thursday with Damian Gjiknuri, Albanian Minister of Energy and Industry, how Albania can benefit from the UAE’s experience in renewable energy. The meeting, which took place at the ministry, tackled ways of enhancing bilateral relations in areas of energy and ...

  DUBAI / WAM Hospitality industry in Gulf region remains firm on its growth trajectory with projects worth $23.5 billion under construction in the key markets of Saudi Arabia and the UAE, organisers of a key industry event in Dubai reported on Thursday. The ongoing projects in region have a combined estimated value of $104.4 billion, of which 15 are ...

  Dubai / Emirates Business Azizi Developments, the UAE-based real estate developer with global reach into international markets, announced its 14th project launch in the burgeoning Al Furjan district, Azizi Samia, which is among Azizi Developments 20 projects in Dubai. The fully-serviced residence, a B+G+2P+12 structure, is Azizi Development’s newest project, which is within close proximity to Discovery Gardens, Dubai ...

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, received on Thursday the visiting Armenian President Serzh Sargsyan and the delegation accompanying him, at his palace in Zabeel, Dubai. Sheikh Mohammed bin Rashid wished Sargsyan a successful visit that would help serve the joint interests of the ...

Dubai / Emirates Business High-profile decision makers and influential leaders are set to converge in Dubai next week, from November 13-14 to explore the future of strategic sectors as the UAE hosts the inaugural Annual Meeting of the Global Future Councils, (AMGFC) the world’s largest future think tank. The UAE’ participants include influential leaders from the public and private sectors, ...

  Dubai / WAM Dubai Tram served about nine million commuters from the start of operations back in 2014, up to the end of October this year. The Dubai Tram will celebrate its second anniversary today amid high performance indicators, compliance to schedules, on-time arrival, high safety standards and the highest customers’ satisfaction & happiness ratings in keeping up with the ...