News

  Bloomberg The Renault-Nissan alliance will begin hiring at least 300 tech experts this month, becoming the latest carmakers to try to lure workers away from Silicon Valley. Most recruits will be software engineers with experience in vehicle connectivity and mobility services, a category that includes car-sharing, the alliance said. They will join a team led by Ogi Redzic, 45, ...

  Geneva / AP Just like Hannibal in ancient times, Swiss engineers have conquered the Alps. More than 2,200 years after the commander from the ancient North African civilization of Carthage led his army of elephants and troops over Europe’s highest mountain chain, Swiss leaders have completed another gargantuan task — and on time: Burrowing the world’s longest railway tunnel ...

  Bloomberg Canada’s economy was already on track to crumble in the second quarter as the Alberta wildfires last month took more than 1 million barrels of oil a day out of production. When you add in details from Tuesday’s report on first-quarter gross domestic product, the outlook becomes dismal. Here are some of the reasons the economy doesn’t appear ...

  Bloomberg Argentine confectioner Havanna is looking to raise as much as 277.5 million pesos ($19.9 million) in the first local initial public offering since 2013. Havanna plans to sell a 17.5 percent stake on June 6, consisting of as much as 7.5 million common shares priced at between 32 and 37 pesos, Horacio Aguilar, head of capital markets at ...

  Bloomberg Barrick Gold Corp. will pay $140 million to shareholders who sued the world’s biggest gold miner over its handling of the Pascua-Lama project on the Chile-Argentina border. The Toronto-based company settled the class action lawsuit that was filed in a New York court, Motley Rice LLC, the firm representing holders, said in a statement Tuesday. It alleges Barrick ...

  Bloomberg Oil declined for a fourth day on concern recent gains were unsustainable, while shuttered Canadian operations started to reopen. Futures fell as much as 1.8 percent in New York after rising 6.9 percent in May as supply was curbed by wildfires in Alberta and militant attacks in Nigeria. Canadian oil-sands producers including Suncor Energy Inc. have begun resuming ...

  DUBAI / EMIRATES BUSINESS A Dubai Government delegation, led by the Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economic Development (DED), concluded a successful tour of three prominent cities in Canada in a bid to explore commercial and investment partnerships for promoting sustainable and innovation-driven economic development. The delegation comprising officials from Jafza, Dubai ...

  ABU DHABI / WAM The UAE Ministry of Finance (MoF) partnered with the Emirates National Oil Company (ENOC) to offer latest innovative smart payment service under the e-Dirham system, enabling consumers to pay for fuel and other purchases at ENOC and EPPCO fuel stations as well as Zoom retail outlets by using the e-wallet of the e-Dirham app for ...

  ABU DHABI / WAM ADNOC Distribution has received the ‘UAE Superbrand’ award for 2016, third year in a row, granted by the ‘Superbrand Council’, the largest independent global body that evaluates brands. The award was received by HE Saeed Mubarak Al Rashidi, Acting Chief Executive Officer at ADNOC Distribution. Commenting on the award, Al Rashidi said, “We see this award ...

  Dubai / Emirates Business Dubai Electricity and Water Authority (DEWA) honoured 150 employees, winners of its Internal Excellence Award for the first half of 2016. The award underlines DEWA’s commitment to motivating its staff to actively participate in establishing excellence, creativity, and innovation as daily practices. HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, presented the winning ...