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Abu Dhabi / WAM The UAE on Sunday announced the first five projects under the $50 million UAE-Caribbean Renewable Energy Fund across Antigua and Barbuda, Bahamas, Barbados, Dominica, and St. Vincent and the Grenadines. The projects will significantly reduce energy costs in the region, as well as improve resilience to natural disasters, such as Hurricane Irma. Announced in January 2017, ...

Bloomberg Chancellor Angela Merkel was chastised by German voters who elected her to a fourth term with her party’s worst result since 1949, after an election that lifted a far-right party into parliament in a sign of the growing polarisation in Europe’s biggest economy. Sunday’s federal ballot saw support for the two main parties— Merkel’s Christian Democrat-led bloc and Martin ...

Bloomberg SoftBank Group Corp., the majority owner of Sprint Corp., is willing to accept a stock-for-stock merger with T-Mobile US that values Sprint at or near its current market price, according to people familiar with the matter. While the two sides haven’t agreed on an exact value, SoftBank doesn’t expect to receive much of a premium to Sprint’s current share ...

Bloomberg Finance Minister Arun Jaitley said India needs to find a balance between fiscal prudence and spending, and there’s no need to panic, as he tries to dig the economy out of its deepest slump in three years. Speaking at the Bloomberg Economic Forum in Mumbai, Jaitley called for more private investment from local companies and said the banking system ...

Bloomberg ­­­­­­­­­­­­­­­ UK Prime Minister Theresa May continued a charm offensive to ease European worries about Brexit by writing an opinion column in France to say Britain will be reasonable about the conditions of its departure and wants to remain the nation’s closest ally after it exits. “My message to the citizens of France is clear: In the years to ...

Bloomberg Uber Technologies Inc. collected more than 500,000 signatures in less than 24 hours on a petition to protest London’s decision to not renew the company’s taxi license, a setback in one of its most lucrative markets. The campaign on the website Change.org asks London Mayor Sadiq Khan to reverse Transport for London’s decision, and is being promoted on the ...

Bloomberg More home buyers are resorting to mortgages to purchase London’s most expensive houses and apartments as rising prices drag them into higher tax brackets. Seventy-four percent of homes costing 1 million pounds ($1.4 million) or more in the UK capital were bought with a mortgage in the three months through July, up from 65 percent a year earlier, according ...

ABU DHABI / WAM The follow-up committee of the initiatives of the UAE President approved the funding of a number of infrastructure and urban development projects across various emirates at a total cost of AED1.2 billion. The effort comes in implementation of the directives of the President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and the close monitoring by ...

Dubai / WAM For more than 90 minutes, Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, watched La Perle – the region’s first permanent live performance at a 1,300-seat, state-of-the-art aqua theatre in Al Habtoor City. HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Sheikha ...

Abu Dhabi / Emirates Business Abu Dhabi celebrated on Saturday the official commencement of operations of Fujairah Terminals in the East coast of the United Arab Emirates. The announcement came following an official event held at Novotel Fujairah, attended by Sheikh Saleh bin Mohammed Al Sharqi, Chairman of the Board of Port of Fujairah, Captain Mohamed Juma Al Shamisi, CEO ...