News

  AP U.S. factory output dropped in March for the second straight month as manufacturers churned out fewer cars, metal parts and machinery. Yet other recent data suggests that the sector’s long-running malaise could brighten in the coming months. Factory production fell 0.3 percent last month, following a 0.1 percent drop in February, the Federal Reserve said. Those figures suggest ...

Bloomberg Two big firms, JPMorgan Chase & Co. and Goldman Sachs Group Inc., have two pretty divergent opinions about what you should own in the U.S. stock market right now. So far, the dollar is making the difference in who’s right. Custom indexes maintained by both banks give the advantage to Dubravko Lakos-Bujas, the JPMorgan chief U.S. equity strategist who ...

  AP A group representing Amazon indigenous people has urged Brazil’s National Development Bank to stop financing projects that cause environmental damage. After meeting with bank representatives, leaders of the Ecuador-based group known as the Coordinator of Indigenous Organizations of the Amazon Basin said in a statement that they also asked the bank to adopt policies that safeguard the rights ...

  Bloomberg Struggling Brazilian telephone company Oi SA is arguing that its Dutch unit is free to use borrowed funds to lend to the parent company, according to a person with knowledge of the matter. In a response to a creditor lawsuit, Oi said that individual lenders don’t have the right to question the uses of the money they lent ...

  Bloomberg Argentina seeks to end 15 years of financial isolation on Monday when it sets out to borrow cash on international credit markets for the first time since a 2001 default. The country is looking to boost its struggling economy and settle a 15-year lawsuit by US investment funds which its ex-president Cristina Kirchner branded “vultures.” This week’s debt ...

  Abu Dhabi / WAM The records set by the general index of confidence in the business climate and its sub-indexes in 2015 showed a continuous positive outlook amongst various businesses towards the economic conditions in the Emirate of Abu Dhabi and optimism for the future in spite of slight decline of the general index value which reached 59 points ...

  DUBAI / WAM In a far-reaching move to tackle hazardous liquid pollution at its flagship Jebel Ali Port, DP World UAE Region signed a Memorandum of Understanding with the Department of Planning and Development – Trakhees, the regulatory arm of Ports, Customs and Free Zone Corporation in Dubai, PCFC, to enforce the International Convention for the Prevention of Pollution ...

  DUBAI / WAM Dubai Electricity and Water Authority (DEWA) won the Cyber Risk Strategy of the Year award at the Global Risk Management Awards in London. The award was presented by The Institute of Risk Management (IRM) in the UK, a leading global organisation in setting risk management standards and recognising global best practices. Saeed Mohammed Al Tayer, MD ...

  ABU DHABI / WAM Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy, on Saturday visited the ADNOC Distribution service station located in Abu Dhabi’s Khalifa City. He was accompanied by Abdullah Salem Al Dhaheri, Marketing and Refining Director at ADNOC and Saeed Mubarak Al-Rashidi, Acting Chief Executive Officer of ADNOC Distribution and other members of the company’s ...

  ABU DHABI/ WAM NFT Cranes, an Abu Dhabi-based company, which is one of the world’s major companies in the field of tower crane and elevators, announced it completed 90% of the AED70 million contract for the supply of giant tower cranes for the largest and highest suspension bridge in the world on the Bosporus Strait at an altitude of ...