News

  San Juan, Puerto Rico / AP Holders of bonds from Puerto Rico’s Government Development Bank are suing to challenge aspects of a debt-moratorium law that island officials say is crucial to maintaining essential services as the U.S. territory struggles under a nearly $70 billion debt load. The amended federal lawsuit filed late Friday in the U.S. District Court in San ...

  New York / AFP A guitar given to Elvis Presley by his father in 1969 went under the hammer for $334,000 in New York during an auction that also saw a Michael Jackson vest fetch $256,000. Vernon Presley is said to have changed the finish of the Gibson Dove acoustic guitar to ebony after his son earned his black belt ...

  Bloomberg Brazilian swap rates slid, even after consumer prices rose faster than forecast, in an early vote of confidence that the new administration will be able to slow inflation. Swap rates on the contract maturing in January 2018, a gauge of expectations for interest-rate moves, declined 0.05 percentage point to 12.72 percent, even as inflation accelerated more than all ...

  Bloomberg The electric-car revolution is here and Chile is looking to ramp up production of the lithium the industry needs for batteries. Or it would be, but for a bitter dispute between the government and the former son-in-law of a military dictator. After Chile’s government moved to withdraw its license to exploit one of the world’s largest deposits, Soc. ...

  New York / AFP Media mogul Sumner Redstone has ousted the head of Viacom from a trust with the power to take over his business interests, putting his daughter in position to control his $40 bn empire, a source close to the matter told AFP. Redstone, 92, is the controlling shareholder of Viacom and CBS whose failing health has set ...

  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, called the Egyptian President, Abdel Fattah El Sisi, to express his sincere condolences for the victims of the EgyptAir passenger plane crash in the Mediterranean on its flight from Paris to Cairo. HH ...

  ABU DHABI / WAM Helal Mohammed Al-Hameli, Deputy Director General of the Abu Dhabi Chamber of Commerce and Industry and Riitta Swan, Ambassador of Finland to the UAE discussed ways to enhance trade and investment co-operation between the Emirate of Abu Dhabi and Finland. During a meeting here in Abu Dhabi, Al-Hameli reviewed the services and facilitations provided by ...

  DUBAI / WAM The Dubai Electricity and Water Authority (DEWA) signed a Memorandum of Understanding (MoU) with Tata Consultancy Services (TCS) to support DEWA’s strategy in Research and Development (R&D), sustainability, diversification of the energy mix, in an environment that nurtures innovation and creativity. The MoU was signed by Saeed Mohammed Al Tayer, MD and CEO of DEWA and ...

  Abu Dhabi / WAM An official delegation from the UAE has successfully participated at the 8th Kazan International Economic Summit between the Russian Federation and member countries of the Organisation of Islamic Cooperation (OIC) from May 19-21, in Kazan, the capital of Russia’s Tatarstan Republic. The delegation was headed by Abdullah bin Ahmed Al Saleh, Under-Secretary of the Ministry of ...

  London / WAM A joint workshop between the Federation of Arab News Agencies (FANA) and Thomson Reuters concluded in London on Friday night. The two-day workshop was attended by heads of the Arab news agencies and senior officials at Thomson Reuters. Topics discussed during the workshop included the future of news agencies in the digital age and means of cooperation ...