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  Brussels / AFP The EU unveiled ambitious plans on Wednesday to boost joint defence spending including on shared assets like drones and helicopters, as concerns grow that President-elect Donald Trump may downgrade the US security commitment. Trump shocked longtime NATO allies in Europe when he suggested on the campaign trail be would think twice about coming to their aid ...

  Bloomberg Personal spending increased at a more moderate pace in October after the biggest gain in five months, while faster income growth signaled demand will be sustained. Purchases rose 0.3 percent after a 0.7 percent September advance that was stronger than first estimated, Commerce Department figures showed on Wednesday. The median forecast in a Bloomberg survey called for a ...

  Dubai / WAM The UAE’s national events are an annual occasion for all of us to teach our young generations to love the UAE and to be dedicated to their country and its prosperity, affirmed His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, while he presided over a ...

  Abu Dhabi / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, made on Tuesday, an official visit to the headquarters of the Abu Dhabi National Oil Company (ADNOC), where he was briefed on the organisation’s long term strategic objectives. During the visit, H.H. Sheikh Abdullah bin Zayed reaffirmed the UAE and Abu ...

  Abu Dhabi / WAM On the occasion of the 45th National Day celebrations of the United Arab Emirates, the Emirates News Agency (WAM) issued a series of reports regarding the achievements of the state over the past year. In part five, we examine the state of the UAE economy. 2016 saw a sudden drop in oil prices that took ...

  Abu Dhabi Emirates Business Abu Dhabi Ports (ADP), the master developer, operator and manager of the Emirate’s commercial and community ports as well as Khalifa Industrial Zone, and Integral Plastic Industries Co. LLC on Tuesday signed a Musataha agreement to build a new manufacturing plant in Khalifa Industrial Zone (KIZAD) with an investment of AED10 million. The agreement was ...

  Geneva / AFP Up to 16,000 civilians have fled strife-torn parts of eastern Aleppo as the rebels lost all of the northern neighbourhoods of their stronghold, the UN said on Tuesday, describing the situation as “chilling”. “The intensity of attacks on eastern Aleppo neighbourhoods over the past few days has forced thousands of civilians to flee to other parts of ...

  Bloomberg Samsung Electronics Co. didn’t quite come out and actually say it, but South Korea’s most valuable company is probably going to split as soon as next year. Samsung said on Tuesday it’s looking at a plan to turn itself into a holding company, and would have more to say on the issue at a later date. The idea ...

  Bloomberg The brawl atop India’s largest conglomerate isn’t just splitting the $100-billion Tata Group, it’s also forcing the nation’s business community to pick sides. That’s because many of India’s industry captains are board members at Tata’s dozens of units. They include the heads of the nation’s oldest conglomerate — the Wadia Group — top mortgage provider Housing Development Finance ...

  Bloomberg German carmakers BMW, Daimler, Porsche and Audi and US competitor Ford said on Tuesday they would cooperate on a Europe-wide network of electric charging stations. The move is an “important step towards facilitating mass-market battery electric vehicle adoption”, the manufacturers said in a joint statement, and comes as German carmakers rev up their offers of electric cars for ...