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Dubai / WAM Emirates SkyCargo, the freight division of Emirates, completed a year of strong growth in 2017. The air cargo carrier’s robust performance was underlined by the introduction of specialised customer focused air transportation solutions across a number of industry verticals and by continued investment in infrastructure. Between January and December 2017, Emirates SkyCargo’s hubs at Dubai International Airport ...

Bloomberg The world’s largest automotive alliance will invest as much as $1 billion to fund mobility startups over the next five years as it looks to make inroads with new technology at a time of rapid upheaval for the transportation sector. Carmaking partners Renault SA, Nissan Motor Co. and Mitsubishi Motors Corp. will invest as much as $200 million during ...

Bloomberg Indian PM Narendra Modi eased restrictions on foreign direct investment (FDI) across several sectors, including allowing overseas airlines to invest in state carrier Air India Ltd., in a bid to revive growth in Asia’s third largest economy. Foreign carriers can buy up to 49 percent in the loss-making national airline, the government said in a statement. In a move ...

Bloomberg The UK economy will be paying the price for years to come if Prime Minister Theresa May fails to secure a Brexit agreement with European Union leaders. Leaving the bloc in March 2019 with no deal in place could result in a 6.5 percent hit to GDP by 2030, according to research published by Bloomberg Economics analysts Dan Hanson ...

Bloomberg UK manufacturers posted a seventh consecutive month of expansion in November as sectors from food producers to makers of games and sports equipment increased output. Factory output rose 0.4 percent from October, the Office for National Statistics said. Overall industrial production also increased 0.4 percent, with a drop in temperatures boosting demand for energy. Separate figures show construction output ...

Bloomberg Ford Motor Co. is expanding its driverless delivery experiment beyond pizza by partnering with Postmates to test what it will take to eventually remove the driver from on-demand distribution. The carmaker and the startup, which connects consumers with drivers to deliver their groceries, take-out and other purchases, will team up this year on a pilot programme that explores how ...

Bloomberg Congressional Republicans got the green light from President Donald Trump to negotiate an immigration deal with Democrats, potentially clearing a stalemate that’s stalled action on multiple issues, including funding to keep the government from shutting down next week. During an unusual public meeting with bipartisan members of Congress at the White House, Trump offered a broad outline for an ...

Abu Dhabi / WAM The Abu Dhabi National Oil Company (ADNOC), on Tuesday awarded the two Front End Engineering Design (FEED), contracts for its planned offshore ultra-sour gas mega-project, which consists of the Hail, Ghasha and Dalma fields. Bechtel was awarded the Hail and Ghasha FEED Contract, and TechnipFMC the Dalma FEED Contract. Both are worth many hundreds of millions ...

Dubai / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, on Tuesday attended the graduation ceremony of postgraduates with master’s and doctoral degrees, as well as the 25th batch of cadet officers with a Bachelor’s degree in Law and Police Science. The ceremony was attended by HH ...

DUBAI / Emirates Business The Dubai Land Department (DLD) revealed the annual results of the Dubai real estate market for 2017, with the total real estate transactions exceeding AED285 billion through 69,000 real estate transactions. Commenting on DLD’s Annual Transactions Report, which summarizes the market activity over the past year, Sultan Butti bin Mejren, Director General of DLD, said: “The ...