Oslo / Reuters The governor of the Norwegian central bank will apply for a second, and final, six-year term, he told Reuters. “I am motivated to continue as governor, and can confirm that I will apply,” Olsen said. Oeystein Olsen Olsen, 64, has been governor of Norges Bank since January 2011. His six-year term can only be renewed once. By …

Bloomberg For the past couple of years, automakers have helped keep the economy going as confident consumers raced to replace their aging rides with more luxurious cars and sport utility vehicles. That torrid growth is starting to level off. All three U.S. automakers posted sales gains that missed analysts’ estimates in March, while Japan’s Toyota Motor Corp. reported a surprise …

Bloomberg Republican presidential candidate Donald Trump says the U.S. is headed for a “very massive recession” and that’s it’s a “terrible time right now” to invest in the stock market, according to an interview with the Washington Post. Unemployment is much higher than official figures suggest, Trump said in the interview conducted on Thursday and published on Saturday. His comments …

Bloomberg Volkswagen AG told its dealers that the automaker is still committed to a mass-market strategy in the U.S. and has doubled production of an all-wheel-drive station wagon to challenge the Japanese automaker Subaru beginning the fourth quarter of 2016. Herbert Diess, global head of the Volkswagen brand, and Hinrich Woebcken, interim chief executive of the company’s U.S. sales unit, …

Bloomberg Argentina raised prices for natural gas that should save the government $4 billion a year as part of its drive to cut subsidies that were the main cause of the largest fiscal deficit in almost two decades last year. Government-controlled gas prices for residents, businesses, transport and power plants were raised, according to a resolution published in the Official …

AFP The latest data on Brazil’s industrial production showed deepening recession in Latin America’s biggest economy, though its trade surplus grew and the currency is rising on prospects of a new government. Industrial output shrank nine percent over the 12 months leading up to February, government statistics showed, with the car-making, machinery and electronic sectors hit the hardest. The slide …

RITIKA SHARMA / AJMAN From hospitality to construction and from fashion to tourism and now education — there is no industry that is untouched by the advancements that technology imparts. Being a pioneer in embracing new tech trends, UAE has shown the world how quick and wise adoption of technology makes a difference in all spheres of life. The country …

Dubai / Emirates Business The tech entrepreneur sector has grown by over tenfold since the nascent Venture Capital industry emerged four years ago. This encouraging revelation has been made by BECO Capital, a regional venture capital firm focussed on technology investments in the Gulf Cooperation Council (GCC) countries. This growth has allowed more and better quality investments in promising start-ups …

OUR CORRESPONDENT / Emirates Business Bahrain’s Al Abraaj group, a leading investor operating in global growth markets, announced their first venture in the UAE, with YaSalam! Restaurant in Jumeirah Lake Tower, Dubai. As the economy of F&B industry in the UAE is undergoing a significant growth, it has been estimated that the industry is to witness 1,600 new F&B outlets by …

Abu Dhabi / EMIRATES BUSINESS Khalifa University and the Global Education Energy Environment (Global EEE), in cooperation with Launchpad, announced the 2016 Global Hybrid-Electric Challenge, which will debut to feature electric cars built by students on April 7 to 9 at the Al Forsan International Resort in Abu Dhabi. In two Grand Prix races, 17 teams from universities around the …