News

  Bloomberg France’s private-sector economy shrank for the first time in four months in June, with manufacturing slumping the most in more than a year. A composite Purchasing Managers’ Index fell to 49.4 from 50.9 in May, London-based Markit Economics said on Thursday. That’s below the 50-point mark that divides expansion from contraction. A gauge for manufacturing dropped to 47.9, ...

  Bloomberg The euro will strengthen this year no matter which way the U.K. votes in Thursday’s referendum on its European Union membership, according to one of the most accurate forecasters of the currency. A record current-account surplus and rising inflation-adjusted bond yields will limit any declines in the shared currency to $1.10, said Daisuke Karakama, chief market economist at ...

  Bloomberg Volkswagen AG’s typically close-knit owners publicly split for the first time over the diesel crisis after the German state of Lower Saxony withheld support for two executives under investigation for their role in the scandal. Volkswagen’s second-largest shareholder abstained from what is typically a ceremonial vote at the annual meeting, declining to back former CEO Martin Winterkorn and ...

  ABU DHABI / WAM The share of global electricity generated by solar photovoltaics (PV) could increase from 2 per cent today to as much as 13 per cent by 2030, according to a new report from the International Renewable Energy Agency (IRENA). Released on Wednesday at InterSolar Europe, Letting in the Light: How Solar Photovoltaics Will Revolutionise the Electricity ...

  DUBAI / WAM Hesham Abdulla Al Qassim, Chairman of Emirates Islamic and Vice Chairman and Managing Director of Emirates NBD Group, rang the market-opening bell on Wednesday to celebrate the listing by the bank of a US$750 million Sukuk on Nasdaq Dubai. The nominal value of Sukuk currently listed on Nasdaq Dubai has reached US$41.81 billion, the largest total ...

  Dubai / EMIRATES BUSINESS Tadweer has celebrated its 5-day long Occupational Environment, Health & Safety (OEHS) Week for 2016. With its two strategic partners, the initiative is aimed at promoting a culture of occupational environment, safety and health for its employees, contractors and community. The Universal Hospital conducted various health and well-being initiatives and National Trading and Pharmaceuticals, NTPE, ...

  Dubai / EMIRATES BUSINESS His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Free Zone (DFZ) Council, chaired the third council meeting held at the Emirates Office Tower. The session highlighted the UAE’s responsibility in seeing through to completion the international agreements signed on the prevention of double taxation. The Council also explored suitable solutions for increasing ...

  Dubai / EMIRATES BUSINESS Dubai and Abu Dhabi have been ranked the most expensive cities to live in across the Middle East, according to Mercer’s 2016 Cost of Living Survey. The global rankings see Dubai as the 21st most expensive city in the world, a rise of two places in comparison to last year, with Abu Dhabi, 25th in ...

  Abu Dhabi / WAM Tadweer celebrated its 5-day long Occupational Environment, Health & Safety (OEHS), Week for 2016. With its two strategic partners, the initiative is aimed at promoting a culture of occupational environment, safety and health for its employees, contractors and community. The Universal Hospital conducted various health and well-being initiatives and National Trading and Pharmaceuticals (NTPE) organised activities ...

  Dubai / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, issued Executive Council Resolution No. 20 of 2016 approving the organisational structure of Dubai Civil Aviation Authority (DCAA). The Resolution authorises the Director-General of Dubai Civil Aviation Authority to issue the decisions necessary to implement the provisions ...