News

  Dubai / WAM The Dubai Chamber of Commerce and Industry (DCCI) is organising next week the inaugural Global Business Forum Latin America, to strengthen trade ties with Argentina and Latin America, by identifying new trade and investment opportunities. This was disclosed by Majid Saif Al Ghurair, Chairman of the DCCI, during his meeting with Gabriela Michetti, Vice President of ...

  ABU DHABI / Emirates Business DarkMatter, an international cyber security firm headquartered in the UAE, announces its major participation at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) for the first time. The event is taking place at the Abu Dhabi National Exhibition Centre (ADNEC) November 7-10, 2016 where close to 100,000 visitors from across the region are ...

  Bloomberg Facebook Inc. reported a quarter that blew past expectations. But its shares fell after executives suggested they won’t be able to repeat the performance. The stock dropped as much as 7.1 percent on Thursday in premarket trading after two sobering comments on its conference call the night before. First, Chief Financial Officer David Wehner said revenue growth rates ...

  AFP The High Court struck a blow on Thursday to the British government’s plans for leaving the EU, ruling it must seek parliament’s approval before starting exit talks in a landmark judgement that could delay Brexit. Three senior judges said Prime Minister Theresa May’s government does not have the power on its own to trigger Article 50 of the ...

  Ottawa / AFP The Ford Motor Company reached a new labor agreement with the union representing more than 6,400 auto workers at the company’s plants in Canada, averting a strike. The deal includes a commitment from Ford — similar to those offered by General Motors and Fiat Chrysler in earlier talks — to invest more than Can$630 million (US$470 ...

  Bloomberg TAG Heuer will open an office in Silicon Valley, marking the first time a big Swiss watchmaker has expanded into the cradle of the US technology sector and cementing its smartwatch alliance with Google and Intel Corp. The office, which opened Nov. 1 and is located on Intel’s campus in Santa Clara, California, will house about a dozen ...

  AFP An International Monetary Fund team arrived in Kiev on Thursday to check on cash-strapped Ukraine’s books and set out a series of tough conditions for the disbursement of further loans. The IMF approved a $17.5-billion (15.8-billion-euro) rescue package for the war-scarred former Soviet republic in 2015 to help it recover from two years of savage recession and allow ...

  Bloomberg Business activity in Egypt hit its lowest level in more than three years in October, shrinking for a 13th month amid a foreign currency shortage, the pound’s weakness in the black market and accelerating inflation. The Emirates NBD Purchasing Managers Index for non-oil activity fell to 42 from 46.3 the month before, the weakest since July 2013, according ...

  Reuters Egypt’s Supreme Investment Council approved a host of measures to boost investment that included an extended suspension of capital gains tax on shares and tax exemptions for producers in strategic sectors. Egypt has been trying to attract investment to restore growth since an uprising in 2011, which ushered in protracted political turmoil and scared away tourists and foreign ...

  Doha / AFP Qatar’s population has passed the 2.6 million mark as the emirate draws in thousands of workers to build the infrastructure for the 2022 football World Cup, official figures showed Wednesday. The tiny Gulf state has seen a more than four-fold increase in its population since 2000 as oil and gas revenues have fuelled a rapid economic ...