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DUBAI / WAM Dubai SME, the agency of the Department of Economic Development (DED), in Dubai mandated to develop the Small and Medium-sized Enterprise (SMEs), sector, has signed a Memorandum of Understanding (MoU), with Emaar Industries & Investments, to co-operate and collaborate in assisting local SMEs to be part of innovative projects and grow internationally. The MoU is part of ...

DUBAI / WAM Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (Dewa), received a high-profile delegation from Japan Bank for International Cooperation (JBIC), to discuss cooperation through joint initiatives, programmes, projects, and investment opportunities. The Japeanese delegation included Nobumitsu Hayashi, Deputy Governor of JBIC, and Naoki Tamaki, Chief Representative for the Middle East from the ...

Sharjah / WAM Pearl Petroleum Company Limited, the consortium led by Crescent Petroleum and Dana Gas of the UAE, has signed a new 20-year Gas Sales Agreement (GSA), with the Kurdistan Regional Government. The agreement will enable production and sales of an additional 250 MMscf/day that the consortium aims to produce by 2021 as part of their expansion plans in the ...

Dubai / WAM Dubai Chamber of Commerce and Industry has announced the formation of the New Zealand Business Council (NZBC), in Dubai in a move to strengthen UAE-New Zealand relations and expand bilateral economic ties. The New Zealand Business Council is the 50th country-specific business council to be established in Dubai under the umbrella of Dubai Chamber. The council has ...

Bloomberg The US and China are edging closer to resolving differences on currencies that have bogged down economic talks for nearly two decades. The only question is how meaningful the deal will be. With both nations inching towards a trade agreement that’s expected to include a provision for China to hold the yuan stable, US President Donald Trump is shifting ...

Bloomberg Investors looking for opportunities to make money in India’s election year will most likely find them in the battered corner of the nation’s $2 trillion stock market: mid-cap shares. Mid- and small-sized companies are trading at a discount to their historical averages after the recent selloff, and the fund house plans to gradually boost its exposure to them relative ...

Bloomberg President Donald Trump regularly declares that he’s winning his trade wars. Yet evidence is growing that the US economy is a net loser so far. In two separate papers published over the weekend, some of the world’s leading trade economists declared Trump’s tariffs to be the most consequential trade experiment seen since the 1930 Smoot-Hawley tariffs blamed for worsening ...

Bloomberg A federal judge is requiring PG&E Corp. to abide by rules governing how the utility operates its power lines in California, seeking to reform what he described as “dismal” management that led to a series of destructive fires over the past two years. US District Judge William Alsup gave PG&E a March 22 deadline to present any arguments as ...

Bloomberg Tesla Inc. Chief Executive Officer Elon Musk caught many employees by surprise with his announcement last week that the electric-car maker would close most stores and shift to online-only sales, according to three people familiar with the matter. Many sales personnel first found out about the decision when Tesla published a public blog post, said the people, who asked ...

Bloomberg Late last month, as US officials joined Venezuelan opposition leader Juan Guaido near a bridge in Colombia to send desperately needed aid to the masses and challenge the rule of Nicolas Maduro, some 200 exiled soldiers were checking their weapons and planning to clear the way for the convoy. Led by retired General Cliver Alcala, who has been living ...