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Abu Dhabi / WAM Abu Dhabi Fund for Development (ADFD), has announced its plan to deposit $250 million into the Central Bank of Sudan (CBOS), to secure increased liquidity and strengthen the financial position of Sudan. The deposit falls within the framework of the newly announced $3 billion (AED11 billion) UAE-Saudi Arabia joint aid package for Sudan that has committed $500 ...

Bloomberg Barely three months into his tenure, Renault SA Chairman Jean-Dominique Senard plans to propose merging the French carmaker with alliance partner Nissan Motor Co under a holding-company framework, according to people familiar with the matter. Each company would own about a 50 percent stake in the holding company and have equal board representation, one of the people said, asking ...

Bloomberg Three months after groundbreaking, Tesla Inc is rushing to complete its multibillion-dollar factory on the outskirts of Shanghai to capitalise on growing demand in the world’s largest electric-car market. Foundations for the facility have been laid, and construction workers are erecting walls and other structures for the factory, which could eventually rival production from its US assembly plant. Tesla ...

Bloomberg Microsoft Corp.’s cloud computing business fuelled quarterly sales and profit that topped analysts’ estimates, boosted by several new deals with large corporate clients. The company’s shares rose as much as 5.1 percent in New York, briefly pushing its valuation across $1 trillion before pulling back slightly. The move nosed the software maker ahead of Apple Inc. as the world’s ...

Bloomberg Daimler AG said its financial targets have become harder to achieve after a tough start to the year, forcing the auto manufacturer to step up efforts to drive down costs. The Mercedes-Benz maker’s first-quarter profit slumped 16 percent after a decline in deliveries combined with the rising cost of developing new models. While earnings met analyst estimates, Chief Executive ...

Bloomberg Oracle Corp. will continue to fight the terms of the Pentagon’s $10 billion winner-take-all cloud computing contract after being kicked out of the bidding process this month, according to the company’s chief lobbyist. Oracle Executive Vice President Kenneth Glueck, who leads the company’s Washington policy shop, said in an interview with Bloomberg News that the company will continue to ...

Bloomberg President Donald Trump revved up his campaign pitch to voters in key Rust Belt states by touting the US economy, saying he’s working to stop jobs from moving to neighbouring countries, and mocking his Democratic opponents. “We’re now the No. 1 economy anywhere in the world and it’s not even close,” Trump said at a rally in Green Bay, ...

BEIJING / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, met President of Belarus Alexander Lukashenko on the sidelines of the second Belt and Road Forum for International Cooperation, which concludes on Saturday in the Chinese capital Beijing. During the meeting, Sheikh Mohammed and Lukashenko discussed bilateral ...

LONDON / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, Jeremy Hunt, Foreign Secretary of the United Kingdom, Adel Al Jubeir Minister of State for Foreign Affairs of the Kingdom of Saudi Arabia, and David Satterfield, United States acting assistant secretary of state for Near Eastern Affairs, met on Saturday in London ...

DUBAI / WAM Hospitality professionals from every corner of the world will gather in Dubai on Sunday for the opening of Arabian Travel Market, (ATM 2019), the largest travel industry exhibition in the Middle East. Identifying the top tourism trends showing the greatest growth potential is one of the most valuable insights Arabian Travel Market has to offer, and this ...