Uncategorized

  Bloomberg Volkswagen AG’s European first-quarter market share reached a five-year low as auto buyers snubbed the German carmaker’s efforts to resolve its emissions-cheating scandal and turned to models from BMW AG, Fiat Chrysler Automobiles NV and Daimler AG. Volkswagen’s brands, including mass-market Skoda and up-market Audi, accounted for 23.4 percent of new registrations in the three months ended March ...

Bloomberg The US is urging Russia to help halt an offensive by President Bashar Al Assad’s forces on rebel-held Aleppo, once the most populous city in Syria, warning that it’s putting an almost seven-week cease-fire under increasing strain. The Obama administration expressed its strong concerns to Russia, which committed to not participate in any attacks on groups which are adhering ...

  Dubai / WAM The 16th edition of the Dubai Derma Conference and Exhibition concluded on Thursday after three days of tremendous success with a consensus from all its visitors, participants, and speakers that Dubai Derma has surpassed all expectations and witnessed a great success. The event succeeded to attract over its 3 days 12,500 visitors and participants. Dr Abdul ...

  Dubai / WAM Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), visited DEWA’s projects in support and preparation for the World Expo 2020. The move follows the vision of Vice President and Prime Minister of the UAE and Ruler of Dubai, His High Sheikh Mohammed bin Rashid Al Maktoum, to host the best World ...

Istanbul / AFP Turkish President RecepTayyipErdogan on Thursday urged dozens of heads of state and government gathered for an Islamic summit in Istanbul to end sectarian divisions in the Muslim world and fight terror together. Turkey is seeking to showcase its influence among the world’s estimated 1.7 billion Muslims, particularly in lands once controlled by the Ottoman Empire, at the ...

Bloomberg Bank of England officials said the U.K.’s European Union referendum may already be weighing on growth as they kept their key interest rate at a record low. The nine-member Monetary Policy Committee, led by Governor Mark Carney, unanimously agreed to maintain the benchmark at 0.5 percent — where it’s been for more than seven years. In a ramping up ...

Bloomberg The world’s biggest oil explorers are fighting a U.S. plan to toughen offshore drilling rules that Exxon Mobil Corp. said will cost $25 billion over 10 years and render many offshore discoveries worthless. The Obama administration will issue the sweeping new regulations as part of an effort to reduce the number of well blowouts after the explosion aboard the ...

  Dubai / Emirates Business According to a Food and Beverage (F&B) report released by global property advisor CBRE, UAE residents ranked the third biggest F&B spenders globally in shopping malls, following their counterparts in Norway and Switzerland. As the F&B market in the UAE demonstrates a considerable degree of resilience in the years following the economic downturn, the results ...

  New Delhi / Bloomberg India’s fuel demand grew 11 percent in the year ended March 31, the fastest pace in records going back to fiscal 2001. Fuel use rose to 183.5 million metric tons from 165.5 million tons in the previous period, according to preliminary data on the website of the Oil Ministry’s Petroleum Planning & Analysis Cell. Diesel ...

Washington / AFP A Russian military jet came within 30 feet of a US destroyer in international waters in the Baltic Sea, US officials say, but Russia on Thursday defended the maneuver as safe. Russian aircraft repeatedly buzzed the USS Donald Cook this week, including an incident on Tuesday in which a Russian Su-24 flew 30 feet (nine meters) above ...