News

  Bloomberg Daimler AG’s trucks division, seeking to recover from a profit warning last month, aims to boost future earnings with a plan to cut costs by sharing engines, axles and other components across units in North America, Europe and Asia. Once truck markets return to “a more normal level,” the unit will reach its target of an average 8 ...

  Washington / AFP Whether or not Britons vote this month to quit the European Union, fellow voters across the continent are increasingly sceptical of the benefits of staying in the bloc. A Pew Research Center survey published on Tuesday suggests the June 23 Brexit referendum will be close, with 48 percent of British voters polled unfavorable to Europe and ...

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, exchanged greetings over the phone with His Majesty King Mohammed VI of the Kingdom of Morocco and His Majesty King Hamad Bin Isa Al Khalifa of Bahrain, on the occasion of the Holy ...

  ABU DHABI / WAM FGB partnered with Zayed University, ZU, to enhance the skills, work experience and career opportunities for UAE nationals in the banking and financial services sector. The bank’s CEO, Andre Sayegh signed a Memorandum of Understanding (MoU) with Professor Reyadh AlMehaideb, Vice President of Zayed University recently, during a ceremony held at Zayed University’s Abu Dhabi ...

  KUWAIT / WAM The oil maritime transport sector needs to be further developed through increased international collaboration and a unified legislative system, the Organisation of Arab Petroleum Exporting Countries (OAPEC) said on Tuesday. In its monthly report obtained by the Kuwait News Agency (KUNA), OAPEC noted that further cooperation between Arab nations is needed to stave off challenges and ...

  DUBAI / WAM The Dubai Chamber of Commerce and Industry (DCCI) in partnership with global e-commerce platform for SMEs, Alibaba, recently conducted two workshops to emphasise the importance of business-to-business (B2B) e-commerce and to elaborate on Chamber’s role in facilitating e-commerce activities in the MENA region.

  DUBAI / WAM Dubai Customs and the UAE Sailing and Rowing Federation, UAE SARF, sealed a partnership deal setting Dubai Customs as Host Sponsor of the much-anticipated Silver Anniversary Dubai to Muscat Yacht Race, 2016. The agreement was signed by Sheikh Khaled Zayed Saqr Al Nahyan, Chairman of the Federation, and Ahmed Obaid Al Falasi, Executive Director of HR, ...

  ABU DHABI / Reuters IBM on Tuesday signed a $300 million, ten-year technology services agreement with Dubai’s Emirates Airline. IBM will provide information technology services, allowing the airline to improve efficiency on its passenger support systems and functions, a statement from IBM said. Under the managed services agreement, this will include assistance in encrypting the airline’s data in near ...

DUBAI / Reuters Dubai’s DP World won a 50-year concession to develop Posorja port project in Ecuador that will require initial investment of $500 million, the ports operator said in a bourse statement on Tuesday. The initial investment “will include the purchase of land, dredging of a new access channel, a 20 km access road and a 400 metre berth ...

  ALKESH SHARMA / Emirates Business UAE’s commercial fit-out sector — which is the leading the market in the entire GCC region — is bombarded with bespoke designs that meet the discerning requirements of millennial generation. New trends have marked an end to the cubical structures donning the office corridors, and open spaces that allow free access of ideas, communications ...