Abu Dhabi / WAM The Abu Dhabi General Services Company (Musanada), in collaboration with the Department of Education and Knowledge (ADEK), has started the relevant processes for design and construction of two kindergartens valued at an approximate AED85 million and a total built-up area of 5,119 square metres each in Al Falah as part of ‘Phase 8’ of the Abu ...
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UAE Park in China to open in December
Dubai / WAM The UAE Park in China will officially open in December this year in Nanning, the capital of the Guangxi Zhuang Autonomous Region in southern China. Dubai Municipality, which is representing the UAE in Expo 2018 China, has participated in the design of the project covering an area of 1,700 square metres. Marwan Al Mohammed, Director of General ...
Read More »China’s pursuit of Europe trade links powers freight rail surge
Bloomberg China’s efforts to revive Silk Road trading routes are proving to be a boon for a slightly less ancient mode of transportation: freight trains. The value of cargo sent between between China and Europe by rail surged more than 140 percent in the first six months of 2017, according to a new report from the Center for Strategic and ...
Read More »Beijing to introduce globally comparable jobless rate
Bloomberg The world’s biggest labour market will soon get its first regularly updated monthly jobless rate similar to closely-watched gauges in other major economies like the US and Europe. Monthly updates of China’s survey-based urban unemployment rate will be released from April, the country’s National Bureau of Statistics said. Until now, the only regular official unemployment rate has been a ...
Read More »CVS borrows $40 billion for Aetna in 3rd-largest bond sale
Bloomberg CVS Health Corp. completed the third-largest corporate bond sale on record to fund its acquisition of Aetna Inc., testing the appetite of a market that’s off to its worst annual start in decades. The pharmacy giant issued $40 billion of investment-grade debt in a nine-part offering, people with knowledge of the matter said. That’s surpassed only by Verizon Communication ...
Read More »BlackBerry’s Facebook suit latest in patent battle
Bloomberg BlackBerry Ltd., seeking ways to stem revenue declines, is dusting off its old patents and asking other companies to pay up for using technology BlackBerry claims it invented years ago. The latest skirmish broke out, when BlackBerry sued Facebook Inc in federal court in Los Angeles, claiming the social media giant has built swaths of its empire on messaging ...
Read More »Car-tariff threat from Trump misses mark in Germans-in-US era
Bloomberg President Donald Trump’s threat that he could tax cars imported from Europe was premised on the idea that German automakers pour Benzes and Bimmers into the US while making it “impossible†for American cars to sell there. General Motors Co., America’s largest carmaker, largely bailed from Europe last year for reasons that had less to do with protectionism than ...
Read More »Seoul urges caution on North Korea ahead of envoys’ US visit
Bloomberg South Korean President Moon Jae-in tried to tamp down expectations for his planned summit with Kim Jong Un, as he prepared to send envoys to Washington to discuss their meeting with the North Korean leader. “This is just a start, and we can’t be optimistic just yet,†Moon told leaders of five South Korean political parties in Seoul on ...
Read More »UAE working to strengthen its global stature as incubator for innovation
Abu Dhabi / Emirates Business His Highness Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior, on Tuesday inaugurated the 8th edition of the International Exhibition for National Security and Resilience (ISNR Abu Dhabi 2018), held under the patronage of HH Sheikh Hazza bin Zayed Al Nahyan, Deputy Chairman of Abu Dhabi Executive ...
Read More »MEE 2018 kicks off in Dubai amid region’s soaring power demand
DUBAI / WAM His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority, Chief Executive of Emirates Group, Chairman of the Dubai Supreme Fiscal Committee and Chairman of the Dubai Supreme Council of Energy, on Tuesday officially inaugurated the industry-shaping Middle East Electricity (MEE, 2018). Hosted by the UAE Ministry of Energy, and under the patronage ...
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