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White House: Mideast peace may not be 2-state solution

  WASHINGTON / AP As Israeli Prime Minister Benjamin Netanyahu visits the White House, the Trump administration has suggested that peace between the Israelis and Palestinians may not come in the form of a two-state solution — a position that could represent a dramatic shift from 20 years of US policy. Speaking to reporters ahead of President Donald Trump’s meeting ...

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UAE, Slovenia seek to boost economic ties

  Abu Dhabi / WAM Sultan bin Saeed Al Mansouri, the UAE Minister of Economy, and Dr. Milo Cerar, Prime Minister of Slovenia, discussed the promotion of economic ties and strengthening of commercial, investment and tourism co-operation between the two countries. The meeting between the two parties was held on the sidelines of the 5th World Government Summit. The two parties ...

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MoE calls for stronger relations between UAE and Kazakhstan

  Dubai / Emirates Business Eng. Sultan bin Saeed Al Mansouri, Minister of Economy, called for stronger cooperation between the UAE and Kazakhstan in the areas of information systems, innovation, and smart cities during his meeting with Kazakh Minister of Information and Communications, Dauren Abayev. Their discussions revolved around the creation of joint mechanisms for facilitating cooperation and exchange of ...

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SoftBank to buy Fortress Investment Group for $3.3bn

  Bloomberg SoftBank Group Corp. is buying alternative-asset manager Fortress Investment Group LLC for $3.3 billion in cash to operate alongside the Japanese company’s soon-to-be-established technology investment fund. Japan’s SoftBank will pay $8.08 a share for New York-based Fortress, a 39 percent premium to the company’s February 13 closing price, according to a statement. Fortress principals Pete Briger, Wes Edens ...

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Surging iron ore won’t ‘fall off a cliff,’ says Rio Tinto

  Bloomberg Iron ore will defy forecasts for a dramatic price collapse as China’s economy remains strong and the top buyer boosts demand for higher-quality imports, according to Rio Tinto Group, the second-largest exporter. “I wouldn’t necessarily say that it’s going to fall off a cliff,” Chief Financial Officer Chris Lynch said in an interview with Bloomberg Television’s Daybreak Australia. ...

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Japan economy marks growth

  Bloomberg Japan’s economy is cruising along, at least by its own recent standa- rds, with real growth clocking in at 1 percent in 2016. It may have reached top speed. Real gross domestic product expanded for a fourth consecutive quarter at the end of 2016, the best run in more than three years. A number of indicators are flashing ...

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Bucking anti-trade trend, EU clears deal with Canada

  Bloomberg The European Union’s parliament approved a trade deal with Canada on Wednesday, extolling the pact as a sign of cooperation at a time when many political forces, including US President Donald Trump’s administration, are trying to halt globalization. After three hours of debate on Wednesday and years of negotiations preceding that, the legislature approved the deal by a ...

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AIG posts $3.04bn loss, adding to CEO’s woes

  Bloomberg American International Group Inc. posted its fourth loss in six quarters, burned again by higher-than-expected claims costs as Chief Executive Officer Peter Hancock struggles to sustain profitability. The net loss widened to $3.04 billion, or $2.96 a share, from a $1.84 billion, or $1.50, a year earlier, the New York-based insurer said in a statement. The fourth quarter’s ...

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UAE to build first human settlement on Mars by 2117

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, and Prime Minister of UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, unveiled on Tuesday the “Mars 2117 Project” which aims at its final stage to establish the ...

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UAE, Colombia to promote coop, share govt best practices

  Dubai / WAM Ohood bint Khalfan Al Roumi, Minister of State for Happiness, Director-General of the Prime Minister’s Office of the UAE and Deputy Chairman of the World Government Summit, and Angela Maria Gonzales Loayza, Secretary-General of the Administrative Department of Civil Service of Colombia, signed a Memorandum of Understanding (MoU) on behalf of their governments to promote co-operation in ...

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