Dubai / Emirates Business Seeking to redefine the value shopping space in the UAE retail arena, Al Ahli Holding Group announced a significant development in the Dubai Outlet Mall expansion on Tuesday. Dubai Outlet Mall secured an Islamic club financing facility worth AED 1.25 billion ($340 million) for the expansion and general corporate purposes. Dubai Outlet Mall is part of the ...

Dubai / WAM Sixteen news agencies, including the Emirates News Agency, (WAM), signed a declaration agreeing to work to raise awareness of the importance of the main themes of the World Government Summit and of the need to promote global understanding. Signatories included representatives of the following news agencies- Saudi Press Agency, (SPA); Middle East News Agency, (MENA); Indo-Asian news ...

Abu Dhabi / WAM Dubai Airports on Tuesday announced the successful completion of the world’s first Tier III certified Modular Data Centre Complex (MDCC), at Dubai International (DXB), following a tour of the new facility by HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Airports. The project was led by Dubai Airports and delivered by Huawei in just ...

Abu Dhabi / WAM The Department of Urban Planning and Municipalities (DPM), is among several government entities that have initiated preparations for the World Urban Forum 2020 (WUF10), in Abu Dhabi – the first WUF to be held in the Arab region. The emirate has been selected by UN-Habitat to host the prestigious event, which brings together global leaders to ...

Dubai / WAM Dr Aisha bint Butti bin Bishr, Director-General of the Smart Dubai Office (SDO), presented the chapter on happy cities from the Global Happiness Policy Report, issued by the World Happiness Council on the sidelines of the 6th World Government Summit (WGS 2018). The Council had held a meeting at the Summit, attended by Ohoud bint Khalfan Al Roumi, ...

LONDON / Reuters The rise in global oil production, led by the United States, is likely to outpace growth in demand this year, the International Energy Agency said on Tuesday. The Paris-based IEA raised its forecast for oil demand growth in 2018 to 1.4 million barrels per day, from a previous projection of 1.3 million bpd, after the International Monetary ...

Bloomberg Oil demand in India rose 10.3 percent in the first month of 2018, the fourth straight monthly gain. Total oil consumption expanded at the fastest pace in 14 months to 16.9 million tons from 15.3 million a year ago, according to the oil ministry’s Petroleum Planning and Analysis Cell. Improvement in road freight transport following the stabilization of the ...

CAIRO / Reuters BP is looking to invest over $1 billion in Egypt this year, making the country once again a top destination for investment, its CEO said. Speaking at an industry event in Egypt, Bob Dudley said the company was no longer owed any money by the Egyptian government. “The government owes us no money,” he said on the ...

Bloomberg Natural gas is getting edged out of power markets across the US by two energy sources that, together, are proving to be an unbeatable mix: solar and batteries. In just the latest example, First Solar Inc. won a power contract to supply Arizona’s biggest utility when electricity demand on its system typically peaks, between 3 p.m. and 8 p.m. ...

Bloomberg UK utilities may have to delay or give up on building power stations as new generators won only a fraction of the capacity offered in a tender to provide backup electricity. The auction process, set up to encourage new installations, only saw 1.5 percent of the total going to proposed plants. The lack of new projects could put pressure ...