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Bloomberg Uber Technologies Inc., whose losses have piled up in the quest for growth around the world, will be profitable in three years as its ride-hailing business matures and the company reaps the rewards from investments in areas such as autonomous vehicles, said Chief Executive Officer Dara Khosrowshahi. Bending the company’s financial trajectory out of the red would be a ...

Bloomberg Ford Motor Co. has stepped onto the scale and found it’s out of shape. The automaker signalled it’s even more resolute in the diet prescribed by its new CEO after reporting another underwhelming profit. Ford hasn’t coped well with rising costs because of bloat within its product lineup and engineering budget. Ford “should still be performing at a higher ...

Abu Dhabi / WAM ADNOC Distribution announced plans to open at least 13 new service stations this year including, for the first time, sites in Dubai and Saudi Arabia. Three new service stations are planned for strategic locations across the Emirate of Dubai, nine new stations will open in the Emirates of Abu Dhabi, Ajman and Fujairah and at least ...

Abu Dhabi / Emirates Business The Department of Culture and Tourism – Abu Dhabi is organising the first edition of the Abu Dhabi Publishing Forum, to be held from January 30-31, under the theme ‘Transformations and Achievements in the Publishing Industry: The Emirati Experience’. The forum, taking place at Manarat Al Saadiyat, will play host to expert Arab and foreign ...

DUBAI / Emirates Business Dubai has been selected as a candidate city for the 12th World Chambers Congress (WCC) in 2021, the largest international event of its kind attracting the participation of 14,000 chambers of commerce from 100 countries. The Dubai Chamber of Commerce and Industry’s efforts were crucial to helping Dubai secure the nomination. The 12th WCC will be ...

Dubai / Emirates Business Digitalks, Middle East’s first digitally-focused conference series ended on a high note, with an impressive line-up of visitors and international participants tackling the most pressing issues facing the digital communications industry on Wednesday. The launch of Digitalks brought together some of the most accomplished and creative minds in the business, providing a new platform for industry ...

Bloomberg A massive extension of the Paris metro system that would see miles of tunnels dug around the French capital is becoming one of President Emmanuel Macron’s biggest headaches. The $47 billion infrastructure project, dubbed ‘Grand Paris,’ will involve building 200 kilometres of track and 68 stations but it’s being delayed because the government can’t decide which of the lines ...

Bloomberg The UK labour market displayed unexpected resilience in the three months through November as employment jumped and wage growth ticked higher. The number of people in work rose 102,000 to a record high, confounding market expectations that employment would fall. Basic pay growth quickened to 2.4 percent, the highest in almost a year, though it still lags well behind ...

Bloomberg Billionaires, world leaders and investors are gathered in Davos, Switzerland, for the World Economic Forum’s annual meeting to hobnob and discuss topics ranging from the global economy and harassment, to the risks and opportunities of artificial intelligence. Not to mention hear a speech by US President Donald Trump. The second day at Davos saw German Chancellor Angela Merkel, French ...

Bloomberg JSW Steel Ltd., India’s biggest producer, is interested in snapping up two struggling rivals, Bhushan Steel Ltd. and Monnet Ispat & Energy Ltd., as part of an industry-wide wave of consolidation sparked by a new bankruptcy law designed to clear-out distressed assets. The Mumbai-based company will partner with Japan’s JFE Holdings Inc., which holds a 15 percent stake in ...