News

  Abu Dhabi / WAM Abu Dhabi Gas Industries Limited (GASCO), an ADNOC operating company, has taken delivery of its first Floating Storage and Regasification Unit (FSRU) from Excelerate Energy, a leader in floating LNG regasification solutions. The FSRU will enhance GASCO’s capabilities to supply gas throughout its UAE network, adding 500 million standard cubic feet of gas per day to ...

  Dubai / Emirates Business The Ministry of Climate Change and Environment will host a Youth Circle on August 11 under the title ‘Climate Change and Sustainability is Our Shared Responsibility’. The event is part of the Youth Circles initiative launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler ...

  Bloomberg Randstad Holding NV agreed to pay $429 million for jobs site Monster Worldwide Inc., one of the first e-commerce companies to go public in the 1990s at the dawn of the Internet era. Randstad will acquire Weston, Massachusetts-based Monster for $3.40 a share in cash, the companies said in a statement on Tuesday. That’s 23 percent above Monster’s ...

  London / AFP British company bosses won pay hikes of ten percent last year, creating a growing wages gap as workers faced restraint, a study showed recently. The average pay package of a FTSE 100 chief executive rose to £5.48 million ($7.12 million, 6.46 million euros) in 2015, from £4.96 million in 2014, according to research from the High ...

  Frankfurt / AFP German industrial production rebounded in June, official data showed, but analysts warned that the expansion won’t redeem a sluggish second quarter for Europe’s biggest economy. Industrial output posted growth of 0.8 percent in June compared with the previous month, preliminary data adjusted for price, calendar and seasonal effects from the federal statistics office Destatis showed. It ...

  Brussels / AFP EU member states let Spain and Portugal off the hook on Tuesday, deciding against fines for their repeated breach of budget deficit rules meant to bolster growth and the public finances. EU Commissioner for Economic and Financial Affairs Pierre Moscovici said the decision reflected “an intelligent application” of the Stability and Growth Pact which sets the ...

  London / AFP Retail sales surprisingly recovered in Britain during July as warmer weather offset widespread economic uncertainty triggered by the country’s vote to exit the European Union, a survey revealed on Tuesday. A joint survey by the British Retail Consortium (BRC) and financial group KPMG showed retail sales grew by 1.1 percent in July compared with a year ...

  Dubai / WAM Emirates Airline, voted the World’s Best Airline 2016 at the Skytrax World Airline Awards, announced on Tuesday that it will operate its flagship A380 on services between Dubai and Guangzhou from 1st October 2016, the 67th National Day of People’s Republic of China. This follows the airline’s recent announcements of A380 deployment on its Milan and Johannesburg ...

  Dubai / WAM Dubai private sector companies signalled a positive start to the third quarter of 2016, with overall business conditions improving at the fastest pace since March 2015. This was highlighted by a rise in the headline seasonally adjusted Emirates NBD Dubai Economy Tracker Index from 54.6 in June to 55.9 in July. The index – a composite indicator ...

  Abu Dhabi / WAM Abu Dhabi Ports on Tuesday announced the arrival of the first container of Morgan Advanced Materials (Morgan), a world leader in advanced materials, at Khalifa Industrial Zone Abu Dhabi (Kizad). Abu Dhabi Ports ensured timely handling of the first shipment, which contained critical equipment for Morgan’s dedicated 37,000 square meter advanced materials facility in Kizad’s Free ...