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Dubai / Emirates Business Enova – the regional leader in integrated energy and multi-technical services – will supply solar power to four Majid Al Futtaim malls, delivering expected savings of AED 80 million. Enova’s first solar power deal with Majid Al Futtaim Properties was signed on World Environment Day, the United Nations’ annual initiative to promote sustainability. The deal is ...

Abu Dhabi / WAM The Federal National Council (FNC), held the 18th session of the second ordinary session of the 16th legislative chapter which was chaired by Dr Amal Abdullah Al Qubaisi, Speaker of the FNC. During the meeting, discussions revolved around a report from the Financial, Economic and Industrial Affairs Committee on the reservations of President His Highness Sheikh ...

Dubai / WAM Guo You, Chairman of the Board of Supervisors of China Construction Bank (CCB), on Wednesday rang the market-opening bell to celebrate the listing of a US$1.2 billion bond on Nasdaq Dubai, the region’s international financial exchange. The listing by the Hong Kong Branch of CCB, one of China’s leading banks, underlines the country’s growing financial activities in the ...

Bloomberg India’s bustling e-commerce transactions and a planned new national tax system that’s expected to boost freight movement are prompting Deutsche Post DHL Group to expand warehouse capacity in one of the world’s fastest growing major economies. “We see business-to-consumer as the next big challenge, a big growth area and we really want to tap into that through businesses such ...

Bloomberg Sony Corp. shares are undervalued and could rise as much as 39 percent, Oasis Management’s Seth Fischer said at the Sohn Conference in Hong Kong. Sony has undergone a massive turnaround since Chief Executive Officer Kazuo Hirai took the helm in 2012, jettisoning unprofitable businesses such as its Vaio personal computer unit, the chief investment officer of the Hong ...

Bloomberg The head of the US Food and Drug Administration is considering using the agency’s powers to bring more price competition to the market for generic drugs, targeting high-priced products by prioritizing the approval of additional competing treatments. FDA Commissioner Scott Gottlieb said in an interview that the agency is looking at how to push applications to the front of ...

Bloomberg Dish Network Corp. must pay $280 million to the US and four states for using robocalls to consumers on do-not-call lists, marking what the government says is a record fine for telemarketing violations. US District Judge Sue Myerscough issued the order, directing the company to pay $168 million to the federal government and $84 million to California, Illinois, North ...

Bloomberg Chancellor Angela Merkel’s government backed the withdrawal of German troops from Turkey, escalating a feud between two NATO allies and major trading partners. Germany will seek talks with the US and other allies in the coalition fighting IS in Syria and Iraq to make the transition from Incirlik to a base in Jordan as smooth as possible, Defense Minister ...

DUBAI / WAM Dubai Electricity and Water Authority (DEWA) has signed an AED1.7 billion Operating Plant Service Agreement (OPSA) contract with German company Siemens. The 12-year contract includes providing maintenance, spare parts and gas turbine rehabilitation for the second phase of K-Station at Jebel Ali Power and Desalination Station, and the third phase of H-Station at the Al Aweer Power ...

Dubai / Emirates Business The Dubai Medical Tourism industry generated more than AED1.4 billion for the emirate in 2016. The city received 326,649 medical tourists, representing an increase of 9.5% over the previous year. The most popular areas of treatment for medical tour¬ists last year was orthopaedics, dermatology and ophthalmology. In 2016, the largest market for the emirate was Asian ...