August, 2016

• 21 August

  DEWA awards consultancy contract for 4th phase Aweer Power Station

  

    Dubai / WAM Dubai Electricity and Water Authority (DEWA) announced the implementation of a number of developmental projects across all operations, and develops infrastructure to improve its services at the highest standards of efficiency, reliability, and accountability. Saeed Mohammed Al Tayer, MD and CEO of DEWA, said, “In July 2016, DEWA awarded a contract for international advisory services to develop ...

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• 21 August

  M2 rises to AED1191.2bn, says UAE Central Bank

    Abu Dhabi / WAM The Central Bank announced that the Money Supply aggregate M2 increased by 0.9%, from AED 1180.4 billion at the end of June 2016 to AED1191.2 billion at the end of July, 2016. The Central Bank also announced that the Money Supply aggregate M1 decreased by 2.3%, from AED481 billion at the end of June, 2016, to ...

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• 21 August

  Furnish your studio apartment for AED 5,930 via dubizzle

    Abu Dhabi / Emirates Business dubizzle – UAE’s leading classifieds platform – reveals impressive savings on essentials for the home through its Items for Sale section, compared to the average price of similar brand-new items. By calculating the average costs of home essentials listed on dubizzle over the past year, the platform revealed that furnishing a studio flat* and ...

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• 21 August

  German ratings minnow takes aim at USA whales

  

    AFP The latest European challenge to the all-powerful US credit ratings agencies doesn’t come from the continent’s financial capital Frankfurt — but Berlin, better known for raves than banking. “We want to become the European voice on the ratings market,” declares Torsten Hinrichs, chief executive of Scope Ratings. From his office overlooking the huge Tiergarten park, once the hunting ...

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• 21 August

  VW, suppliers to hold talks on production crippling dispute

  

    AFP Embattled automaker Volkswagen will hold talks on Monday with two component suppliers, in a bid to end a stand-off over car parts deliveries that has severely disrupted production at the German giant. ES Automobilguss, which supplies cast gearbox components, and Cartrim, which makes seat covers, suspended their deliveries in August over a legal dispute with Volkswagen. VW secured ...

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• 21 August

  Aston Martin launches much-awaited 99 Vanquish Zagato Volante roadsters

  

    Bloomberg In Carmel, Calif., Aston Martin announced the addition of a sister car to the Vanquish Zagato coupe it debuted earlier this year: the Vanquish Zagato Volante. Aston will make only 99 of the Vanquish Zagato Volante open-top cars. The lower body sills are carbon fiber; its V12 engine gets nearly 600 horsepower. Sprint time to 60mph is 3.7 ...

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• 21 August

  Work until age 69? Bundesbank’s call riles Germans citizens

    AFP The German central bank’s call for people to work until age 69 has reignited a fierce debate in Europe’s fast-ageing top economy, with analysts backing it while politicians show their opposition ahead of key elections. Economy Minister and Vice-Chancellor Sigmar Gabriel was swift to condemn it, saying: “A factory worker, a shop assistant, a nurse, a care-giver would ...

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• 21 August

  ‘IS child bomber’ kills 51 in Turkey

  

    Brussels / AFP A suicide bomber as young as 12 killed at least 51 people at a wedding in Turkey, President Recep Tayyip Erdogan said on Sunday, pointing the finger at the IS group. Erdogan said Saturday’s blast in Gaziantep near the Syria border “was the result of a suicide bomber aged between 12 and 14 who either detonated (the ...

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• 21 August

  South Sudan vice president starts first Khartoum visit

    Khartoum / AFP South Sudan’s new Vice President Taban Deng Gai on Sunday started a two-day visit to Khartoum for talks on thorny issues outstanding since Sudan’s north-south split in 2011. Deng’s first visit to Sudan as vice president comes weeks after he replaced former rebel leader Riek Machar following clashes in Juba that left hundreds dead in July. ...

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• 21 August

  10 dead in twin blasts in Somalia town

    Mogadishu / AFP At least 10 people were killed on Sunday in two explosions in a town in central Somalia, police said. The Shabaab militant group claimed responsibilty for the blasts in the town of Galkayo, some 700 kilometers (440 miles) northeast of Mogadishu. “There were two car bomb blasts which targeted the local government headquarters. More than 10 ...

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