News

  Bloomberg President Dilma Rousseff promised increased spending on her party’s most popular social program and took other measures aimed at her electoral base, less than two weeks before Brazil’s Senate is expected to vote in favor of the impeachment process she calls a coup d’etat. At a rally of labour unions and Workers’ Party faithful in Sao Paulo on ...

  Bloomberg After falling for three months, the dollar is set to rebound, if this historical seasonal chart is any guide. The Bloomberg Dollar Spot Index, which tracks the greenback versus 10 peers, has appreciated in May in every year but one since 2007, according to a Bloomberg Seasonality Chart. That’s the best record among the 12 months. Analysts’ theories ...

  San Francisco / AFP US oil services companies Halliburton and Baker Hughes announced they were calling off their massive multibillion-dollar proposed merger that had met strong resistance from regulators. The deal, announced in November 2014, foresaw a $34.6 billion takeover by Halliburton of its rival, creating a powerful competitor to global industry leader Schlumberger. “Challenges in obtaining remaining regulatory approvals ...

  Bloomberg Puerto Rico will default on a $422 million bond payment for its Government Development Bank, escalating what is turning into the biggest crisis ever in the $3.7 trillion market that U.S. state and local entities use to access financing. Governor Alejandro Garcia Padilla invoked a debt moratorium law approved last month, saying during a televised address that the ...

  Ritika Sharma / Emirates Business From China to Poland and from Italy to Kuwait, the world literature has come on one common platform at 26th edition of Abu Dhabi International Book Fair (ADIBF), which enters its last day on Tuesday. With 63 countries participating, the event brings together a unique experience for literature lovers from all walks and ages. ...

  Ritika Sharma / Emirates Business Highlighting the e-trends in publishing, Abu Dhabi International Book Fair (ADIBF) this year is exhibiting the best of technology in use in the industry worldwide. One such trend, which is fast catching up globally, is of online books and libraries. However, experts say that the region needs to catch up with the pace at ...

  Sunaina Rana / Emirates Business Abu Dhabi International Book Fair (ADIBF) featured a very interesting corner that attracted hundreds of visitors. The ‘Illustrator’s Corner’ is one of the most vibrant sections where creativity and imagination merge together with an utmost ease. One of the most buzzing corners of the exhibition venue, this place highlighted various activities that demonstrate their ...

  Abu Dhabi / WAM The UAE’s Ministerial Development Council, presided over by HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, discussed the establishment of the International Centre for Registration of Patents, reflecting the UAE government emphasis on innovation and competitiveness at various levels in accordance with the UAE National Innovation Strategy launched ...

  ABU DHABI / WAM Tasneef, the first certified Arab classification society, and Abu Dhabi Ship Building (ADSB), a leading provider of construction, repair and refit services for naval, military and commercial boats, on Sunday signed a Memorandum of Understanding, (MoU) creating a framework for future collaboration to strategically develop the naval construction and services industry across the region. The ...

  DUBAI / WAM Emaar Properties PJSC recorded first-quarter (January to March) 2016 net profit of AED 1.205 billion (US$ 328 million). This is an increase of 17 per cent compared to the net profit of AED 1.026 billion (US$ 279 million) during the same period last year. Led by significant progress in construction of its projects, Emaar’s Q1 2016 ...