US manufacturing group hacked by China as trade talks intensified-sources

WASHINGTON: As trade talks between Washington and Beijing intensified earlier this year, suspected Chinese hackers broke into an industry group for US manufacturers that has helped shape President Donald Trump’s trade policies, according to two people familiar with the matter. The National Association of Manufacturers (NAM) was hacked over the summer and hired a cybersecurity […]

EU bank to stop funding fossil fuels in ‘landmark decision’

Brussels: The European Union’s investment arm said Thursday it will stop funding fossil fuel projects from 2022 as part of a new strategy aimed at fighting climate change, in a decision environmental campaigners hailed as a “significant victory”. The European Investment Bank, the world’s largest multilateral lender, had been criticised by climate groups for funding […]

McDonald’s to speed shift away from plastic in Europe

Brussels: Fast food giant McDonald’s is speeding up its move to minimise the use of plastic in its restaurants in Europe, where legislation on single-use items is becoming increasingly restrictive. The US burger behemoth announced Thursday the introduction of new packaging in all its restaurants in Europe by the end of 2020 for the McFlurry, […]

China says holding ‘in-depth’ talks with US on interim trade deal

BEIJING: China and the United States are holding “in-depth” discussions on a first phase trade agreement, and cancelling tariffs is an important condition to reaching a deal, the Chinese commerce ministry said on Thursday. The degree of tariff cancellation should fully reflect the importance of a ‘phase one’ agreement, ministry spokesman Gao Feng told a […]

Dana Gas reports net profits of Dh521 million in first nine months

Sharjah: Dana Gas, a private natural gas company, announced on Thursday its latest financial results, reporting a massive 246 per cent increase in its net profits during the first nine months of the year to Dh521 million. The group, which has operations in the UAE, Egypt and Kurdistan Region of Iraq (KRI), also reported a […]

Relief and fears for future after Germany dodges recession

BERLIN: Germany on Thursday dodged a technical recession with a slight third-quarter growth, leaving analysts divided over whether sunnier skies or further months flirting with a downturn lie ahead for Europe’s biggest economy. Defying forecasts of a second quarterly contraction in a row in July-September, growth of 0.1 per cent was “a hefty, but happy […]