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Bloomberg US workers may be finally getting a pay raise — and perhaps more importantly, they’re earning it by becoming more efficient. Average hourly earnings for private workers increased 2.9 percent in August from a year earlier, the most since the recession ended in mid-2009, the Labor Department said. The gains were broad-based, ranging from manufacturing to retail. The fatter ...

Bloomberg Volkswagen AG Chief Financial Officer Frank Witter was asked this week whether the world’s largest carmaker would be open to selling shares in the luxury-car unit that includes Porsche and Lamborghini. He didn’t say no to the option, which could potentially unlock billions of dollars in value for Volkswagen investors. “It is a legitimate question, without a doubt,” Witter ...

SHARJAH / WAM As global economies transition from readying themselves for the Fourth industrial revolution, to devising frameworks and capital markets that pave the way for a profitable and sustainable future, the 4th Sharjah FDI Forum, slated to take place on December 10-11, under the patronage of HH Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler ...

Abu Dhabi / WAM The UAE will celebrate on Thursday the annual International Day of Charity, which takes place on September 5. The country has succeeded in transforming charity work into a culture and social behaviour, which is well-established in the Emirati character. This year’s celebration followed the Year of Giving in 2017, which aimed to promote the values of ...

Dubai / Emirates Business Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, on Wednesday announced that it will provide design and development consultancy services for the world’s largest indoor Snow & Ski resort, Wintastar Shanghai, led by Singapore’s SGX Catalist-listed purveyor of luxury lifestyle, real estate and hospitality, KOP ...

Frankfurt / WAM A memorial to the UAE’s heroes and a celebration of the nation’s unity, Abu Dhabi’s Wahat Al Karama (Oasis of Dignity) has been announced as one of the winners of the German Design Award, an annual competition organised by the German Design Council, to recognise exceptional architectural projects and products. The Oasis received the award for its ...

Bloomberg The UK charged two Russian nationals over the attempted murder of a former spy and the use of a Novichok nerve agent on British soil, a move that will further sour ties with the Kremlin. Police named Alexander Petrov and Ruslan Boshirov as the aliases of the two key suspects in the attack on Sergei Skripal and his daughter ...

Bloomberg Zijin Mining Group Co., a Chinese gold and base metals producer, agreed to buy Nevsun Resources Ltd. for $1.41 billion in cash, just days after winning a tender for a Serbian copper miner. The Fujian-based company will acquire all of the issued and outstanding shares of Nevsun for C$6 per share in cash, they said. The cash consideration represents ...

Bloomberg Regions around Osaka, Japan’s second biggest population centre, struggled to recover from damage left by Typhoon Jebi, which left 10 people dead, hundreds of thousands of buildings without power and the area’s main airport closed. Kansai International Airport, a key transport and cargo hub that lies on an artificial island in Osaka Bay almost directly in the typhoon’s path, ...

Bloomberg Ford Motor Co. has stopped running national ads for the Fusion and Focus sedans it’s killing and put more marketing muscle behind the Mustang, a decision that paid off with a 35 percent sales jump for the pony car last month. “Those are the kind of things you’re able to do when you narrow the focus of your lineup,” ...