News

  MALI / WAM The Emirates Red Crescent (ERC) is spending AED7.5 million to provide health and food assistance to affected people in the Republic of Mali as part of the UAE’s efforts to improve the quality of life in Africa. An ERC statement said the UAE relief agency was working with a number of United Nations’ organisations to address difficult ...

  Dubai / WAM Dubai Electricity and Water Authority (DEWA) announced the implementation of a number of developmental projects across all operations, and develops infrastructure to improve its services at the highest standards of efficiency, reliability, and accountability. Saeed Mohammed Al Tayer, MD and CEO of DEWA, said, “In July 2016, DEWA awarded a contract for international advisory services to develop ...

  Abu Dhabi / WAM The Central Bank announced that the Money Supply aggregate M2 increased by 0.9%, from AED 1180.4 billion at the end of June 2016 to AED1191.2 billion at the end of July, 2016. The Central Bank also announced that the Money Supply aggregate M1 decreased by 2.3%, from AED481 billion at the end of June, 2016, to ...

  Abu Dhabi / Emirates Business dubizzle – UAE’s leading classifieds platform – reveals impressive savings on essentials for the home through its Items for Sale section, compared to the average price of similar brand-new items. By calculating the average costs of home essentials listed on dubizzle over the past year, the platform revealed that furnishing a studio flat* and ...

  AFP The latest European challenge to the all-powerful US credit ratings agencies doesn’t come from the continent’s financial capital Frankfurt — but Berlin, better known for raves than banking. “We want to become the European voice on the ratings market,” declares Torsten Hinrichs, chief executive of Scope Ratings. From his office overlooking the huge Tiergarten park, once the hunting ...

  AFP Embattled automaker Volkswagen will hold talks on Monday with two component suppliers, in a bid to end a stand-off over car parts deliveries that has severely disrupted production at the German giant. ES Automobilguss, which supplies cast gearbox components, and Cartrim, which makes seat covers, suspended their deliveries in August over a legal dispute with Volkswagen. VW secured ...

  Bloomberg In Carmel, Calif., Aston Martin announced the addition of a sister car to the Vanquish Zagato coupe it debuted earlier this year: the Vanquish Zagato Volante. Aston will make only 99 of the Vanquish Zagato Volante open-top cars. The lower body sills are carbon fiber; its V12 engine gets nearly 600 horsepower. Sprint time to 60mph is 3.7 ...

  AFP The German central bank’s call for people to work until age 69 has reignited a fierce debate in Europe’s fast-ageing top economy, with analysts backing it while politicians show their opposition ahead of key elections. Economy Minister and Vice-Chancellor Sigmar Gabriel was swift to condemn it, saying: “A factory worker, a shop assistant, a nurse, a care-giver would ...

  Dubai / Emirates Business In line with its mandate to boost Dubai’s credentials as a wholesale hub of choice and as part of ongoing efforts to strengthen cooperation with partners and stakeholders from the private and public sector within and outside the UAE, Dubai Wholesale City (DWSC) welcomed a delegation from the Spanish embassy. During the visit, the two ...

  Dubai / WAM Ahmed bin Sulayem, UAE Kimberley Process Chair 2016, on Sunday published a mid-term report, a first for the Kimberley Process. The Kimberley Process Certification Scheme (KPCS) is a joint government, industry and civil society initiative to stem the flow of conflict diamonds. It imposes extensive requirements on its members to enable them to certify shipments of rough ...