Bloomberg EBay Inc. gave a disappointing forecast for revenue growth in the second quarter, taking the shine off Chief Executive Officer Devin Wenig’s turnaround strategy. The online marketplace said sales will be $2.64 billion to $2.68 billion in the second quarter, while analysts were projecting $2.68 billion. The outlook stirred concerns about the company’s ability to return to consistent growth ...

NEW YORK / WAM Zaki Nusseibeh, Minister of State, has urged UN agencies and member states to take collective action to identify countries that support and finance terrorism, and hold them accountable, reaffirming the UAE commitment to peacebuilding in the Middle East and beyond. The minister made the remarks on the sidelines of his participation in the two-day United Nations’ ...

Bloomberg The European Union warned about the costs of a trans-Atlantic trade war while bracing for one to erupt after the US signalled it will reject the bloc’s dem-and for an unconditional waiver from metals-import tariffs. “A trade war is a losing game for everybody,” Belgian Finance Minister Johan Van Overtveldt told reporters in Sofia. “We should stay cool when ...

ABU DHABI / WAM The Abu Dhabi City Municipality (ADM) nearly completed Roads and Infrastructure Project of District 25 at Al Maqta South. The project is expected to be completed in the second quarter of 2018 in cooperation with Musanada, at a cost of more than AED118 million, according to an ADM press release. The development includes construction of roads ...

DUBAI / WAM The Dubai Electricity and Water Authority (Dewa) has signed an agreement with General Electric to extend the lifetime of the GE 9E gas turbines at E station at the Jebel Ali Power and Desalination Station, worth AED192.7 million. The work is scheduled to start in the first quarter of 2019 and end in the first quarter of ...

ABU DHABI / WAM Al Qudra Holding PJSC has posted consolidated net profit of AED212.4 million for the year 2017. This was announced at the annual general meeting for 2017, during which the board of directors announced “great results at all levels and presented its 2017 full activity report for financial year ending on December 31, 2017,” according to a ...

DUBAI / WAM DP Global trade enabler DP World has staged the first ever live virtual annual general meeting for shareholders at its HQ in Jebel Ali. Shareholders were connected by a live webcast and telephone conference facility across the region and the world in order to cast their votes on the re-election of board members and to be briefed ...

ABU DHABI / WAM The number of hotel guests staying in the emirate’s 163 hotels and hotel apartments in March reached 464,960, representing an increase of 12.3 percent compared to the same month last year, according to figures released by the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi). The total number of hotel guests in the ...

Abu Dhabi / WAM Some 844,636 local and international factories and 40,636 products got the Emirates Quality Mark (EQM), by the end of 2017, compared to only 241 industrial facilities and 10,209 products in 2013, according to the Emirates Authority for Standardisation and Metrology (ESMA). In an exclusive interview with Emirates News Agency (WAM), Abdullah Al Moaini, Director-General of ESMA, ...

Abu Dhabi / Emirates Business Al Hilal Bank on Saturday announced the official launch of its unique concept, ‘Branch-in-a-Box” at Mushrif Mall in Abu Dhabi, expanding the bank’s digital presence in line with its journey towards enhancing financial services across the board. The ground-breaking concept has been created by Al Hilal Bank in partnership with Omnia Pay, one of the ...