May, 2017

• 6 May

  ADB job was more exciting, jokes BOJ’s Kuroda

    Bloomberg Haruhiko Kuroda joked on Saturday that his previous role running the Asian Development Bank was more exciting than the assignment he’s taken on as governor of the Bank of Japan. Kuroda, who’s spearheaded massive monetary stimulus in Japan for more than four years but still faces an inflation rate near zero, was speaking during a seminar at the ...

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• 6 May

  Facebook repeats warning about slower ad growth

  

    Bloomberg Facebook Inc. executives tried to temper investor exuberance about sales-growth prospects, repeating a warning that there’s a limit to the number of ads it can show on its social network. On a conference call following its first-quarter earnings report, the company said it expects revenue growth to be down “meaningfully” after it stops increasing the frequency of marketing ...

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• 6 May

  Google veterans start self-driving tech frim

  

    Sharjah / WAM A mile away from where Google builds the maps used by people around the world, a 25-person startup is trying to do something similar for robots. DeepMap Inc., which was founded by mapping veterans of Alphabet Inc., is building systems enabling self-driving cars to steer through complex cityscapes. DeepMap plans to license its map-building software to automakers ...

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• 6 May

  Bosch wins some IPhone orders in blow to InvenSense

  Bloomberg Robert Bosch GmbH has won orders from Apple Inc. to supply the next iPhone with some of its motion sensors, according to a person familiar with the deal, a potential blow to InvenSense Inc., currently the main supplier of those smartphone components. The change — hinted at by InvenSense’s finance chief in August — comes as the San Jose, ...

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• 5 May

  38 listed UAE firms post AED12.7bn gains in Q1

  

    ABU DHABI / WAM The net profits booked by 38 UAE companies listed at Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) amounted to AED 12.7 billion during Q1 2017, a growth of 6.7 percent from AED11.9 billion for the same period last year. The gains were termed as ‘‘fair’’ by market analysts who have viewed them ...

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• 5 May

  ‘UAE initiatives encourage youth to play a part in nation’s progress’

  

      Riyadh / Emirates Business “The UAE’s initiatives encourage young people to play a part in their country’s development and the progress of the entire region,” noted Her Excellency Noura bint Mohammed Al Kaabi, UAE Minister of State for Federal National Council Affairs, as she addressed the UNESCO NGO Forum in Riyadh, Saudi Arabia. Taking part in a panel ...

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• 5 May

  Safe business environment tops UAE economic priorities

  

    RIYADH / WAM Protection of consumer rights and ensuring a safe and secure business environment come on top of UAE’s economic priorities where specific legal provisions have been introduced and legal entities assigned to ensure consumer confidence, a UAE Ministry of Economy official has stated. “Providing a consumer-friendly environment is a significant economic enabler which reflects positively on the ...

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• 5 May

  Damac Properties marks listing of $500mn Sukuk

  

    DUBAI / WAM Hussain Sajwani, Chairman of Damac Properties, rang the market opening bell to celebrate the listing of $500 million Sukuk, issued by Damac Real Estate Development Limited (DRED) on Nasdaq Dubai. DRED is a wholly owned subsidiary of Damac Properties PJSC. The listing on the region’s international exchange supports Damac Properties’ capital-raising initiative as it pursues its property ...

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• 5 May

  Yas Marina, ADEC promote innovation in education

    Abu Dhabi / Emirates Business Yas Marina Circuit’s F1 in SchoolsTM learning programme featured prominently at BETT Middle East Conference, under the patronage of Abu Dhabi Education Council. BETT is global meeting place for education technology sector, embracing innovative solutions in order to improve the way students learn. The event at Dusit Thani Abu Dhabi brought together region’s education ...

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• 5 May

  ‘UAE building a better tomorrow; Dubai the city of the future’

  

    Dubai / WAM The magazine, Popular Science, one of the world’s oldest science and technology journals, published an article in its May-June 2017 issue highlighting the UAE’s thriving future industry. Underlining Dubai’s pioneering role in developing sustainable energy sources and tapping into other vital resources, the article lauds the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice ...

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