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66.93
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56.97
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1,221.34
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843.00
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14.39
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Prayers

Fajr
05:14
Monday
19
November 2018

Fajr
Fajr
05:14
Sunrise
Sunrise
06:36
Dhuhr
Dhuhr
12:07
Asr
Asr
15:13
Maghrib
Maghrib
17:38
Isha
Isha
19:08
Markets

2,783.90 0.18%
Volume
146,303,640
Turnover
0.18%
Trades
2,923
14
Up
5
Flat
13
Down
Traded stocks 32
5,079.75 0.48%
Volume
60,357,207
Turnover
0.48%
Trades
2,487
14
Up
2
Flat
11
Down
Traded stocks 27
Most active
Palestine Islamic Bank
1.82
PALTEL
4.33
CBI
0.8
ADNH
3.15
Union Insurance
1.08
Salama
0.63
Methaq
0.75
Arkan
0.48
FAB
14.8
ADIB
4.25
Etisalat
17.3
Air Arabia
1.05
Air Arabia
1.05
Salama
0.63
ADIB
4.25
Dubai Investments
1.45

Emirates Business


12 minute 3 second

Former Intel chief accepts $15mn package to join CDK

Bloomberg The former chief executive officer of Intel Corp who was ousted over an inappropriate relationship with an employee has accepted a marginal pay cut to join CDK Global Inc, a much smaller company that provides software to the auto industry.Brian Krzanich was named CEO and a member of the board. He’ll succeed Brian MacDonald, who had been leading CDK since 2016 and will leave company after assisting with transition.While CDK is far smaller than Intel — its latest fiscal year revenue of about $2 billion was less than 4 percent of the chipmaker’s 2017 total — Krzanich’s compensation won’t...
12 minute 59 second

Post-Carillion, UK recasts outsourcing approach

Bloomberg The UK government has drawn up a package of reforms to improve the way public services are outsourced, after construction firm Carillion Plc became one of the biggest corporate casualties in British history this year.Outsourcing firms, including Serco Group Plc and Capita Plc, will issue “living wills” over the coming weeks, Cabinet Office Minister David Lidington plans to say in a speech on Monday, according to an advance copy of his remarks. Living wills are plans to help with the dissolution of a company in the event of its collapse. Banks were also forced to create them in the...
16 minute 24 second

California wildfires: PG&E reports second failure in power-line

Bloomberg PG&E Corp may be poised for further volatility on Monday after disclosing a second power-line failure on the morning that California’s deadliest fire began.A circuit in Concow, Butte County, failed at about 6:45 am on November 8, the utility said in a filing to the state’s Public Utilities Commission. The California Department of Forestry and Fire Protection, known as Cal Fire, collected equipment on that circuit and “has secured a location near PG&E facilities,” the company said.“The information provided in the report is preliminary, and there has been no determination on the cause,” PG&E said in a statement. At...

17 minute 36 second

Corporate America’s debt boom looks like a bust for economy

Bloomberg Despite strong incentives in the Republican tax plan for American executives to expand, invest and ultimately boost the US economy’s growth potential, a lot of the debt companies are issuing appears to be motivated by something else.Non-financial corporate debt stands at 45.6 percent of gross domestic product, near the highest in post-war record keeping. Despite that, non-residential investment — a broad category in the national accounts that includes everything from office buildings to software — has only been bouncing around the 13 percent of GDP range since 2012.“You would think that companies want to add to productivity capacity but...

Ministry reviews economic cooperation with France

ABU DHABI / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, and Amelia Lacravi, Head of the UAE-France Parliamentary Friendship Group at the French National Assembly, reviewed cooperation betw-een two countries, and discussed joint efforts to adva- nce them in multiple sectors.Al Mansouri and Lacravi exchanged views on current economic and trade developments in international arena, particularly in Europe, while also highlighting strong bilateral ties between the UAE and France across all levels, including political, economic, and cultural elements.The two sides discussed possibility of developing advanced models of cooperation in vital sectors related to innovation, digital transformation, artificial intelligence...

UAE, Kazakhstan discuss ways to strengthen ties

DUBAI / WAM Dr Amal Abdullah Al Qubaisi, Speaker of Federal National Council (FNC) met Bektas Beknazarov, Deputy Chairman of the Senate of the Parliament of Kazakhstan, and his accompanying delegation on the sidelines of the World Tolerance Summit, in Dubai.During the meeting attended by FNC Secretary-General Ahmed Shabib Al Dha- heri, the two sides discussed many topics, including enhancing parliamentary cooperation. Dr Al Qubaisi said thatthe UAE has excellent strategic relations with Kazakhstan, which enjoys the full support of the two countries’ leaders.The two sides emphasised importance of establishing a parliamentary friendship committee, to further strengthen trade and investment,...

Oil short-selling up in record streak

Bloomberg Hedge funds are betting Opec will struggle to reverse oil’s precipitous plunge. Their combined wagers against West Texas Intermediate and Brent crude soared for a seventh straight week, the longest global short-selling streak in data going back to 2011. The bearish bets jumped 14 percent in the week ended on November 13 and have tripled since the end of September, according to data from the US Commodity Futures Trade Commission and ICE Futures Europe.With oil prices slipping into a bear market, Opec has promised to do what it takes to cut output.Still, it’s unclear how far the cartel and...

UAE student-made nanosatellite successfully launches into space

ABU DHABI / Emirates Business Yahsat, UAE-based global satellite operator wholly-owned by Mubadala Investment Company, and Khalifa University of Science and Technology, and Northrop Grumman Corporation, a leading global security company, on Saturday announced the successful launch of the MYSAT-1 CubeSat to the International Space Station (ISS) on board the Northrop Grumman Cygnus spacecraft. The launch took place at the Wallops Flight Facility in Virginia, US and was attended by a group of Khalifa University students and faculty who have participated in the development of the nanosatellite.Developed in the Yahsat Space Lab by the students of Khalifa University of Science...

Styro invests AED70mn in new production unit

Dubai / Emirates Business Styro, a leading Expanded Polystyrene (EPS) manufacturer in the Middle East has opened a 40,000 square meter production facility in Abu Dhabi with an initial investment of AED 70 million to meet a growing demand for its products and services – especially within the construction, interiors, fit-out and packaging sector.Styro is working on several iconic projects in the UAE, valued over AED 20 billion; including the Expo 2020 pavilion. Some of STYRO’s past projects include the Blue Water Island, City Walk and Lourve Abu Dhabi amongst others. STYRO offers Class A fire retardant, heat resistant, tremor-proof,...

UAE, Albania discuss bilateral ties, means to enhance cooperation

Abu Dhabi / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, met Ditmir Bushati, Minister of Foreign Affairs of Albania.During the meeting, the two sides discussed UAE-Albania ties and means to enhance bilateral cooperation between the two friendly countries. Sheikh Abdullah and Bushati also exchanged views on regional and international developments of mutual concern.Sheikh Abdullah bin Zayed welcomed the Minister’s visit, emphasising the UAE leadership’s vested interest in promoting and developing bilateral ties across multiple sectors with Albania, to best serve the interests of both nations and their peoples.The Albanian Foreign Minister...

Sharjah increases business prospects with EU investors

Sharjah / Emirates Business The Sharjah FDI Office (Invest in Sharjah), the investment promotion agency dedicated to the continued transformation and economic diversification of Sharjah, has successfully eyed increased business opportunities with 80 industry experts and businesses from 20 European countries, during their participation in the “Going Global” business event which concluded in London.The annual event, which took place at the ExCel, is one of Europe’s biggest and largest platforms for businesses and suppliers looking to expand internationally, export or set up overseas operations to a number of global markets such as Africa, Asia, Pacific, Mena, Eastern Europe, Asean countries.During...

Xposure brings brilliant minds in photography

SHARJAH / WAM For four days from November 21-24, Xposure International Photography Festival 2018 at the Expo Centre Sharjah will be hosting a number of accomplished international photographers, who will be discussing their work, their passions, and the risks they took to uncover the truth, on important social, economic and environmental issues of today.These conversations will come alive in the form of 13 auditorium sessions and five interactive panel discussions at Xposure 2018, and are a unique opportunity for photography professionals and amateurs, hobbyists, educators, and those pursuing media arts as well as the general public to come face-to-face with...