Uncategorized

Bloomberg Bank Indonesia is taking a firm stance against cryptocurrencies as it urges all parties to refrain from owning, selling or trading the tokens. “Owning virtual currencies is very risky and inherently speculative,” the central bank said in a statement on Saturday. The digital tokens “are prone to forming asset bubbles and tend to be used as method for money ...

Bloomberg While other mainstream auto brands head for sliding US demand this year, Jeep is rolling out new models to buck the trend and bring 16 straight months of sales declines to an end. Fiat Chrysler Automobiles NV’s most valuable brand is launching an all-new version of its iconic Wrangler sport utility vehicle in the first quarter, followed quickly by ...

Bloomberg Facebook Inc., seeking to calm creators of articles and video after announcing a change in how their work will be promoted in its news feed, sent an email pledging to help them adapt. Stories and clips that draw comments and likes or are shared by users are more likely to be seen, Facebook said. The company will also continue ...

Bloomberg Porsche SE’s board was ordered by a German court to answer critical shareholder questions about what management at Volkswagen AG and the carmaker’s majority investor knew about the diesel scandal and whether any evidence was destroyed. The holding company’s board must answer five questions originally asked at its 2016 annual shareholders meeting, a Stuttgart court said in two rulings ...

Bloomberg President Donald Trump has handed European allies an ultimatum to revamp the nuclear deal with Iran, something they have no intention of doing, posing a potential new conflict with other world leaders. “This is a last chance,” Trump vowed in a statement announcing that he’d waived economic sanctions tied to the 2015 accord a final time: “No one should ...

Abu Dhabi / WAM The Zayed Future Energy Prize has officially set a Guinness World Record title for the ‘Largest Environmental Sustainability Lesson’, it was announced on Wednesday. A total of 282 students from across the UAE took part in the sustainability-themed lesson at the Ritz-Carlton Abu Dhabi, presented by Illac Angelo Diaz, Executive Director of Liter of Light, the ...

Dubai / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of Dubai Executive Council, and Chairman of the Dubai Sports Council, on Wednesday honoured the winners of the 9th Mohammed bin Rashid Al Maktoum Creative Sports Award at a ceremony at the Dubai World Trade Centre (DWTC). The Award is an entity ...

DUBAI / WAM Diversification and the high degree of openness in Dubai along with the positive impact of global trends will boost economic growth in the emirate in 2018 and beyond by 3.5%, according to the Dubai Economic Outlook report released on the sidelines of the UAE Economic Outlook forum, which concluded in Abu Dhabi on Wednesday. The report said ...

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 ...