Uncategorized

Bloomberg Just when German factories appeared to be exiting a yearlong slump that battered the country’s economy, it worsened again. The last surveys of purchasing managers for 2019 highlight the dire state of industry in Europe’s largest economy, which was one of the largest drags on the 19-nation euro zone this year. There were also disappointing numbers out of France ...

Bloomberg The euro zone’s private sector is barely growing as 2019 draws to a close, rounding off a year that has seen factories battered by trade uncertainties. IHS Markit’s Composite Purchasing Managers’ Index (PMI) stayed at 50.6 in December, slightly lower than economist estimates of 50.7. The reading signals fourth-quarter output will be the weakest since the region exited a ...

Bloomberg FreeNow, the ride-hailing venture owned by Daimler AG and BMW AG, expects to double revenue this year and next in a fresh challenge to Uber Inc in Europe and Latin America. FreeNow’s so-called gross merchandise volume, which mirrors revenue, is forecast to reach about 2.4 billion euros ($2.7 billion) in 2019, Chief Executive Officer Marc Berg said in an ...

Dubai / WAM Brand Dubai, the creative arm of the Government of Dubai Media Office, on Sunday signed a Memorandum of Understanding (MoU), with Dubai Municipality to undertake beautification projects across Dubai to enrich the city’s urban landscape. The collaboration supports the shared strategy of both organisations to enhance the aesthetic ambience of the city and transform key neighbourhoods into ...

Abu Dhabi / WAM The Abu Dhabi Fund for Development (ADFD), has contributed $10 million (AED36.7 million) towards the development of the Samandini Dam in Burkina Faso. Supporting the country’s strategic objectives, the funded project is part of the Samandini Basin Development Programme that aims to promote sustainable growth in rural areas and improve living conditions through boosting the agricultural ...

Dubai / WAM The UAE Ministry of Economy has announced that the 10th edition of the Annual Investment Meeting (AIM), will be held from March 24-26, 2020, in Dubai. The tenth edition is themed, ‘Investing for the Future: Shaping the Global Investment Strategies’, and will highlight the shifting global investment landscape. Praising the expanded network of AIM 2020, Abdullah Al ...

ABU DHABI / WAM The Sheikh Zayed Book Award organised a panel discussion in Moscow to highlight the pivotal cultural role of the Russian-Emirati cultural dialogue. Held at the Ritz-Carlton, Moscow, the Arab-Russian Cultural Dialogue event further aimed to introduce Russian audiences to Sheikh Zayed Book Award initiatives and attract further nominations to its annual award. Maadhad Hareb Al Khaili, ...

Bloomberg The year-old Democratic majority in the US House faces its toughest test now that the chamber has locked in a vote on impeaching President Donald Trump next week. It’s a step that many moderates in the party had hoped to avoid. The Democrats who flipped Republican seats in 2018 to give Speaker Nancy Pelosi her gavel have helped pass ...

Bloomberg US lawmakers led by Senate Finance Committee Chairman Charles Grassley are negotiating a potential revival of expired tax breaks in last-minute negotiations over a government spending bill. The talks are focussed on reinstating the so-called tax extenders, a move that could be a boon to the biofuel and short-line railroad industries that were hoping to see renewal of valuable ...

Bloomberg Mercedes-Benz is putting off the US debut of its first electric vehicle by a year in the latest sign of just how difficult a time automakers are having replicating Tesla Inc’s success. Daimler AG’s luxury brand will start sales of the EQC crossover in 2021 rather than early next year. The German carmaker said in an emailed statement that ...