News

  Bloomberg Deere & Co., the world’s biggest agricultural equipment manufacturer, cut its fiscal full-year earnings outlook as lower commodity prices hurt farmers’ income and a glut of unsold machinery continues to pile up at dealerships. Full-year net profit will be about $1.2 billion in the year through October, Moline, Illinois-based Deere said in a statement Friday, compared with the ...

  Bloomberg Mexico’s financial stability is hanging in the balance as the peso’s tumble prompts a dangerous acceleration in outflows from the nation’s bonds, according to BNP Paribas SA. A pullback by foreigners is particularly worrisome for authorities, who have often cited peso bond holdings by international investors as a sign of stability. Central bank policy makers will now have ...

  Bloomberg General Motors Co. will spend about $100 million to reimburse customers who bought 2016 Chevrolet Traverse, GMC Acadia and Buick Enclave sport utility vehicles with overstated fuel economy figures, said a person familiar with the matter. Fuel economy was overstated by 1 to 2 miles per gallon because the company failed to reflect new emissions-related hardware in calculations ...

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, congratulated the mountaineering team of the UAE Armed Forces for scaling Mount Everest, the world’s highest peak at 8,848 metres (29,029 feet) above sea level. In a text message to the team on achieving ...

  Dubai / Emirates Business Azizi Developments, the biggest private developer in Al Furjan, awarded a contract worth AED200 million to Dubai-based Keilani Construction Company LLC to construct two new serviced residences in the area. The high-end serviced residences – named Roy-Mediterranean and Montrell – will comprise studios and one-bedroom apartments, each standing 9 storeys tall, including the ground level ...

DUBAI / WAM Foreign investors purchased AED 667.4 million worth of shares on Dubai Financial Market (DFM) and sold AED 561.3 million over the week, DFM said on Thursday. Net foreign investment on the market reached AED 106.1 million, as aggregate buy. Value of shares bought by foreigner investors comprised 50.2 per cent of the total value of stocks traded ...

  SHARJAH / WAM Abdullah Sultan Al Owais, Chairman of the Sharjah Chamber of Commerce and Industry(SCCI) said that the historical and fraternal relations between the UAE and the Sultanate of Oman is a starting point and an additional incentive to continue working hard for the development of bilateral economic relations to achieve a compatible system within the GCC’s common ...

  Dubai / WAM In line with the UAE’s signing of the Paris Agreement at the Climate Conference COP21, the latest edition of Dubai Green Leadership Series (GLS) organized by Dubai Science Park and Dubai Green Economy Partnership discussed ways to unite public and private sector efforts in achieving a low-carbon resilient development in the UAE. “As global citizens, we ...

  AJMAN / WAM HH Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, attended the graduation ceremony of the first batch of City University College of Ajman (CUCA). Some 235 students from various colleges were honoured. The honouring ceremony was attended by HH Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman, Sheikh Rashid bin ...

  Dubai / WAM The Telecommunication Regulatory Authority (TRA) signed a cooperative agreement with the International Telecommunication Union (ITU), the UN’s specialised agency for information and communications technologies, and Mohammed Bin Rashid Smart Learning Program (MBRSLP) during their participation at the SAMENA Telecom Leaders’ Summit 2016 held recently in Dubai. The agreement is aimed at coordinating joint efforts in assisting and ...