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Abu Dhabi / Emirates Business Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, and the Emirates Red Crescent (ERC) signed a Memorandum of Understanding (MoU) to manage the AED67million ($18.3 million) UAE government grant aimed to support the healthcare sector in Hadhramaut Governorate in Yemen. The grant aims to support three healthcare projects in Yemen’s ...

Abu Dhabi / Emirates Business Adnoc Distribution announced the launch of its first Vehicle Inspection Centre at an Adnoc Autoserv complex. The new facility, situated at Adnoc Distribution’s Sea Palace Autoserv location in Abu Dhabi, will be managed by Al Masaood’s Tyre, Batteries and Accessories Division and will offer customers comprehensive maintenance, vehicle testing and inspection services. The 1,350 square-meter ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, said that sending the first Emirati astronaut to space will herald the beginning of a new era for the UAE and represents another step towards achieving the country’s vision and aspirations in the space sector. His Highness’s comment came ...

Abu Dhabi / WAM An independent national poll on nuclear energy showed that the UAE public strongly supports the use of peaceful nuclear energy, with 82 percent of residents in favour of using nuclear energy for generating electricity and 91 percent stating that peaceful nuclear energy is important for the nation. Global figures from similar polls conducted in other countries ...

Bloomberg Kim Jong-un doesn’t appear to be in a rush to dump his nuclear weapons. In talks with Chinese President Xi Jinping this week, the North Korean leader reiterated his call for a gradual process to carry out the results of last week’s summit with US President Donald Trump. Chinese state media cited Kim as saying that denuclearisation would open ...

Bloomberg Donald Trump’s threat to impose tariffs on another $200 billion of Chinese imports could cut as much as half a percentage point from the nation’s economic growth, according to economists. The warning comes amid signs that the world’s second biggest economy—and biggest contributor to global growth— is already slowing down as a simmering trade dispute with the US risks ...

Bloomberg Telstra Corp. plans to cut 8,000 jobs, sell assets and potentially spin off a new infrastructure business in a make-or-break attempt to fend off competition. The stock tumbled. Australia’s former phone monopoly, which has lost more than half its market value since early 2015, said it will almost double its cost-cutting programme. An asset carve-off will raise as much ...

Bloomberg The European Union is on course to hand dozens of UK-based companies a pre-Brexit tax bombshell, according to people familiar with a state-aid probe that could lead to bills exceeding 1 billion pounds ($1.3 billion.) A decision in the European Commission’s investigation into a controversial tax break for UK-based multinationals will be ready later this year, well before Britain’s ...

Bloomberg 21st Century Fox Inc accepted a sweetened, $71.3 billion bid from Walt Disney Co for its entertainment assets, outbidding Comcast Corp in a battle for one of the media industry’s biggest prizes. The $38-a-share price is about $10 a share higher than what Disney offered in December — and $3 above Comcast’s bid from last week. The new agreement ...

Bloomberg Sales of previously owned US homes unexpectedly fell in May for a second month as a lack of inventory and elevated asking prices weighed on demand, National Association of Realtors (NAR) data showed. The drop in sales was led by declines in purchases of single-family homes and cheaper properties, according to NAR, indicating that the market is being driven by ...