News

  Bloomberg Volkswagen AG Chief Executive Officer Matthias Mueller is pushing forward with a technological and organizational revamp of Europe’s largest carmaker despite internal opposition and expects his efforts to begin bearing fruit in two to three years. “Some believe this will pass eventually, that Mueller will only be there for five years, then there’s a new boss and when ...

  AFP US industrial snacks giant Mondelez International said Monday it had dropped plans to merge with chocolatier The Hershey Company. The announcement came nearly two months after Hershey, the maker of Reese’s Peanut Butter Cups and Hershey’s Kisses, rejected a $23 billion takeover offer from Mondelez. “Following additional discussions, and taking into account recent shareholder developments at Hershey, we ...

  AFP Internet entrepreneur Kim Dotcom was on Tuesday granted his wish to live-stream his bid to avoid extradition to the United States where he is wanted on online piracy charges. Attempts by the United States to block the live-streaming request were rejected by Judge Murray Gilbert in the Auckland High Court. Lawyers for the US argued live-streaming could pollute ...

  ABU DHABI / Emirates Business The ICT Fund, the financing tool of the Telecommunications Regulatory Authority (TRA) has announced it is organizing the UAE Drones for Good Award and the UAE AI Robotics for Good Award, two different sets of competitions each having local and international categories. The awards aim to encourage innovative ideas and designs intended to help ...

  Sharjah / Emirates Business Sharjah’s dynamic literary landscape took centre stage at an important international forum when two representatives from the Sharjah’s based cultural project took part in the recently concluded IFLA World Library and Information Congress. Rashid Al Kous, General Manager of Knowledge without Borders (KwB) and Majd Al Shehhi, Manager of its 1001 Titles initiative, both participated ...

  Dubai / Emirates Business Falconcity of Wonders LLC, the developer of Falconcity of Wonders (FCW) the multipurpose mega project currently being built in Dubai, has announced that it has received three ISO certifications for Quality Management (ISO 9001) and Customer Satisfaction (ISO 10002 for Complaints Handling and ISO 10004 for Monitoring and Measurement). The distinguished international certifications reflect FCW’s ...

  Emirates Business In line with its mission to support the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai and help make the UAE the happiest nation in the world, du is partnering with Dubai Opera, the newest, most exciting addition to the emirate’s bustling cultural scene. Over ...

Emirates Business Visitors to Al Montazah Amusement and Waterpark this Eid Al Adha will be able to immerse themselves in an atmosphere that has a distinctly tropical feel. Sharjah’s premier leisure destination has just announced its programme for the public holiday, with the island of Hawaii its central theme. Titled ‘Luau Escapade,’ Al Montazah’s Eid Al Adha programme aims to ...

  Reuters Iraqi state oil firm SOMO has blacklisted three tankers involved in shipping crude from Kurdistan, stepping up pressure on the semi-autonomous region amid tense talks on sharing oil revenue. Kurdistan has been exporting crude independently via Turkey since mid-2015 after saying Baghdad had failed to respect an oil revenue-sharing deal and transfer enough money to Erbil. Baghdad, which ...

  Bloomberg Saudi Arabia’s National Industrialization Co., known as Tasnee, agreed terms with lenders to refinance around 6 billion riyals ($1.6 billion) of debt at its titanium unit after a slump in commodity prices, according to people with knowledge of the matter. The new debt will have a duration of three years — with the option to extend to five ...