News

  Bloomberg Volkswagen AG has agreed to set aside at least $10 billion to resolve civil claims by the U.S. government and lawsuits by American car owners over diesel vehicles rigged to cheat pollution controls, a person with direct knowledge of the matter said. The parties reached the accord ahead of a Thursday deadline set by a federal judge for ...

Bloomberg Soybeans extended a rally above $10 a bushel, the highest price since July, and corn traded near $4 a bushel as unfavourable weather in South America and prospects for improved demand for U.S. supplies bolstered agriculture markets. Dryness in Brazil is causing conditions to deteriorate for its second corn crop, and the country suspended import tariffs for the next ...

  Bloomberg Shareholders of oil-rig venture Sete Brasil Participacoes SA agreed to a plan to file for bankruptcy protection after its single client failed to present a viable book order. A Sete Brasil official confirmed that investors are backing the plan and declined to elaborate. Shareholders had set that day as a deadline for Petroleo Brasileiro SA to propose a ...

  Bloomberg Investors who bought bonds in Argentina’s record-breaking sale have made $497 million in profit in just one day. The bonds that were sold for $16.4 billion now have a market value of $16.88 billion as of 4:48 p.m. in New York, according to prices compiled by Bloomberg. The notes, the first overseas debt sold by the country in ...

  Bloomberg West Fraser Timber Co. and Canfor Corp., Canada’s largest lumber producers, are suffering from tepid demand in the U.S. where the recovery in the housing market is stuttering. U.S. housing starts fell a more-than-expected 8.8 percent last month, the Commerce Department said April 19. Housing demand isn’t strong enough to support lumber prices at current levels, according to ...

  RIYADH / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, arrived in Riyadh to participate in Wednesday’s summit between GCC leaders and Morocco, with the attendance of King Mohammed VI of Morocco, and the GCC leaders and President Barack Obama of the United States ...

  DUBAI / WAM The first Annual General Meeting (AGM) of Emaar Malls (DFM: EMAARMALLS), the shopping malls and retail business majority-owned by global property developer Emaar Properties, on Wednesday approved the proposal of the Board to distribute 10 per cent of the share capital, equivalent to AED 1.301 billion (US$ 354 million), as cash dividend for distribution to the ...

  ABU DHABI / WAM Bloomberg and Abu Dhabi Global Market (ADGM), the world’s newest international financial centre, have signed an exclusive launch of partnership leveraging Bloomberg’s new regionalised editorial platforms. The partnership aims to widen the understanding of the business landscapes in the Middle East region across these new platforms, including a dedicated digital destination, original television programming and ...

  ABU DHABI / WAM A top official from the International Atomic Energy Agency (IAEA) visited on Wednesday the UAE’s Federal Authority for Nuclear Regulation (FANR) in Abu Dhabi to discuss the IAEA’s support for nuclear-related activities in the UAE. IAEA Deputy Director General for Technical Cooperation Dazhu Yang met with FANR senior management officials, led by Deputy Director General for ...

  SHARJAH / WAM Sharjah Investment and Development Authority (Shurooq) announced that it is participating in the Arabian Travel Market (ATM) 2016, which is scheduled to take place from April 25-28 at Dubai World Trade Centre. ATM is the region’s leading travel trade event and Shurooq’s presence will mark the sixth consecutive time that the authority has exhibited at the ...