April, 2019

• 28 April

  Real national progress hinges on a robust base of science, tech

  

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has learned about the AI projects carried out by the UAE national service recruits and hailed the innovative potential of Emirati young people in various domains. This came as the Abu Dhabi Crown Prince ...

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• 28 April

  Arabian Travel Market opens

  

  Dubai / WAM His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of the Mohammed Bin Rashid Al Maktoum Knowledge Foundation, officially inaugurated Arabian Travel Market (ATM 2019) on Sunday, marking the start of the 26th edition of the Middle East’s largest travel and tourism exhibition. Sheikh Ahmed was joined by Helal Saeed Al Marri, CEO of Dubai ...

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• 28 April

  Centre for Fourth Industrial Revolution inaugurated in UAE

  

  DUBAI / WAM The UAE Government, in cooperation with the World Economic Forum (WEF), inaugurated on Sunday the Centre for Fourth Industrial Revolution in the UAE at AREA 2071, Emirates Towers in Dubai, to be the first of its kind in the region and the fifth globally. In line with the rapid global changes and developments of the Fourth Industrial Revolution, ...

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• 28 April

  ADFD funds $250m to boost financial position of Sudan

  

  Abu Dhabi / WAM Abu Dhabi Fund for Development (ADFD), has announced its plan to deposit $250 million into the Central Bank of Sudan (CBOS), to secure increased liquidity and strengthen the financial position of Sudan. The deposit falls within the framework of the newly announced $3 billion (AED11 billion) UAE-Saudi Arabia joint aid package for Sudan that has committed $500 ...

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• 28 April

  Exxon’s refining ‘shocker’ puts Rockefeller legacy in doubt

  

  Bloomberg Exxon Mobil Corp’s worst refining performance in almost two decades may revive questions about the so-called integrated model engineered by founder John D. Rockefeller and espoused by every CEO in the company’s 149-year history. A surprise loss in a business line Exxon typically relies on to prop up more volatile units eroded first-quarter profit and cast doubt on the ...

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• 28 April

  Total’s cash flow up as record output offsets low oil prices

  

  Bloomberg Total SA boosted cash flow in the first quarter as record hydrocarbon output and so-aring sales of liquefied natural gas compensated for a drop in crude prices. The French energy giant’s earnings are the latest sign of the industry’s recovery from a deep downturn, with Total benefiting from the start of giant LNG projects from Australia to the Arctic ...

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• 28 April

  Nintendo’s guidance seen as ‘mockery,’ sending shares lower

  

  Bloomberg Nintendo’s muted forecast for its financial performance in the current fiscal year stunned investors and analysts, sending shares sliding. The company’s stock tumbled as much as 5.1 percent after it forecast operating profit of 260 billion yen ($2.3 billion) this year, well short of the 350.2 billion yen average of estimates. Analysts were particularly befuddled by the forecast that ...

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• 28 April

  Singapore’s bet on tech startups gains ground with 150 VC funds

  

  Bloomberg Singapore’s effort to create an ecosystem to support startups is gaining ground, with the city-state now home to more than 150 venture capital funds. L’Oreal SA, Microsoft Corp and Oracle Corp are among more than 100 entities running incubator and accelerator programs, according to Enterprise Singapore, the government agency spearheading enterprise development. Venture funding has increased to $10.5 billion ...

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• 28 April

  Singapore wealth firm’s pre-tax profit falls

  Bloomberg Wealth-management group iFast Corp posted a 37.5 percent slide in profit before tax for the year as poor financial markets and investments for growth take their toll. Singapore-based iFast reported a $1.37 million profit, from S$2.99 million a year earlier, according to a company filing. The fintech company said it expects revenue and profitability to improve in the second ...

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• 28 April

  Renault all set to renew Nissan merger

  

  Bloomberg Barely three months into his tenure, Renault SA Chairman Jean-Dominique Senard plans to propose merging the French carmaker with alliance partner Nissan Motor Co under a holding-company framework, according to people familiar with the matter. Each company would own about a 50 percent stake in the holding company and have equal board representation, one of the people said, asking ...

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