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Abu Dhabi / Emirates Business The UAE, the second biggest Arab economy, is leading the Arab World in attracting Foreign Direct Investment (FDI). In 2016, the UAE attracted 29 percent of the total FDI inflow in to the Arab World, Sultan bin Saeed Al Mansouri, UAE Minister of Economy, told the media in an interview ahead of the Annual Investment ...

SHARJAH / WAM For the first time in the region, the Khorfakkan Container Terminal (KCT) received on Saturday, the CMA CGM ANTOINE DE ST EXUPERY, France’s largest containership. The Vessel docked at the Port and about seven thousand containers were unloaded. Tariq Al Hammadi, Director of Security and Administrative Affairs at Khorfakkan Port, said the French ship had landed at ...

Bloomberg SoftBank Group Corp., the Japanese technology giant, used its stake in online retailer Alibaba Group Holding Ltd. as collateral for an $8 billion loan from a group of banks in what is one of the biggest deals of its kind, according to people familiar with the matter. Morgan Stanley, Citigroup Inc., Goldman Sachs Group Inc., Bank of America Corp. ...

Bloomberg Samsung Electronics Co. reported a 58 percent surge in profit, topping projections as demand for its memory chips remained strong enough to outweigh concerns about display supplies to Apple Inc. Operating income rose to 15.6 trillion won ($14.7 billion) in the three months ended March, according to preliminary results released from the Suwon, South Korea-based company. That compares with ...

Bloomberg Foxconn Technology Group grew into the world’s largest electronics manufacturer for hire by churning out best-selling products such as iPhones, Kindles and PlayStations. Now, it’s deploying that power to bring cryptocurrencies to the masses. A subsidiary of Foxconn has agreed to help develop and produce a blockchain phone from Sirin Labs, according to the startup. The new device, called ...

Bloomberg Revelations that data belonging to as many 87 million Facebook Inc. users and their friends may have been misused became a game changer in the world of data protection as regulators are looking to raise awareness about how to protect information. Elizabeth Denham, the UK privacy regulator leading the European investigations into how user data ended up in the ...

BERLIN / Reuters German industrial output fell by the most in more than two years in February and the sector is losing momentum, the Economy Ministry said, as factories in Europe’s largest economy throttle back in the face of the rising threat of protectionism. Output fell by 1.6 percent after rising by a revised 0.1 percent in January, data from ...

Bloomberg The US demanded an immediate international response to reports of a chemical attack outside Syria’s capital that rescue workers and activists said killed dozens. The allegations emerged amid renewed government fire on Douma, the last rebel stronghold in the Eastern Ghouta suburb, after a truce in the area unraveled on April 06. A chemical weapons attack last April provoked ...

Dubai / WAM Dr Abdullah bin Mohammed Belhaif Al Nuaimi, Minister of Infrastructure Development, and Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, got first-hand knowledge about the ministry’s application of Artificial Intelligence (AI), technologies in the federal highways projects while touring the site of the Kalba Ring Road development project. The new technology is expected to ...

Dubai / Emirates Business A total of 513 new companies chose Jebel Ali Free Zone (Jafza), the region’s premier trade facilitator and hub as their operational base in 2017, reaffirming its position as a destination of choice for businesses. New companies represent a nine percent increase in Jafza’s portfolio compared with the 470 new companies that registered in 2016. The ...