Federal Reserve Chairman Jerome Powell took to the podium at the annual Jackson Hole monetary conference, delivering a message of support for the central bank’s policy of ongoing gradual interest-rate increases. This policy stance is less about commitment to estimates of key policy variables such as the natural rate of interest and more about data dependence. Unfortunately, Powell left the ...

The world’s largest automaker is flinging big bets around in the hope that something sticks. It might be better off doing what it knows best. Toyota Motor Corp said it’s deepening ties with Uber Technologies Inc, investing $500 million and making Sienna minivans equipped with the tech company’s self-driving software. A yet-to-be determined third party will operate that fleet. One ...

Apple Inc proved one thing this year: It can charge whatever it wants for iPhones. Its growth rests on its ability to maintain that pricing power. Mark Gurman and Debby Wu of Bloomberg News revealed more details of Apple’s planned makeover for its fall 2018 iPhone models. There will be an updated version of the 2017 iPhone X; a higher-end, ...

ABU DHABI / WAM HH Sheikh Hazza bin Zayed Al Nahyan, Deputy Chairman of Abu Dhabi Executive Council, has hailed the remarkable achievements of Emirati women and their efficient contributions to the advancement of the country’s cultural development. On the occasion of the Emirati Women’s Day, Sheikh Hazza said, “During the Year of Zayed, we hail with pride the historic ...

ABU DHABI / WAM The Department of Culture and Tourism — DCT Abu Dhabi said hotel occupancy rates in Abu Dhabi during Eid al-Adha averaged 81 percent from August 21 to 24. This represented an impressive 6 percent increase compared to the average occupancy figure of 75 percent during the same period last year. It also underlines the emirate’s strong ...

DUBAI / WAM Emirates has announced that it will boost its services to Riyadh with the addition of a fourth daily flight to the Saudi capital from September 1. The addition of the fourth daily service will take the total number of weekly Emirates flights serving Riyadh to 28. Adil Al Ghaith, Senior Vice President Commercial Operations, Gulf, Middle East ...

ABU DHABI / WAM The Department of Culture and Tourism — Abu Dhabi (DCT Abu Dhabi) won ‘Best Pavilion Award’ at 2018 Beijing International Book Fair (BIBF), one of the largest international book fairs in the world. DCT Abu Dhabi participation in the ev-ent is part of the roadshow launched to promote Abu Dhabi International Book Fair (ADIBF). Organised annually ...

Bloomberg Donald Trump has signed off on a bilateral agreement with Mexico to revamp the North American Free Trade Agreement, according to three people familiar with the matter. “A big deal looking good with Mexico!” Trump tweeted earlier on Monday. There is no deal reached yet with Canada, the people said, which has been on the sidelines of the talks ...

SHARJAH / WAM HH Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, on Monday, announced that the UAE has been an active member of the second category of the International Astronomical Union (IAU) represented by the Sharjah Centre for Space and Astronomy at the University of Sharjah. The membership was presented at General Assembly ...

Bloomberg Saudi Arabia has granted its state-owned oil company a 40-year concession to exploit the kingdom’s hydrocarbon reserves as part of Aramco’s preparation for a potential initial public offering, a person familiar with the matter said. The pact replaces norms dating in some cases from 1933, when the kingdom first agreed to let companies drill for oil there, the person ...