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  Abu Dhabi / Emirates Business Abu Dhabi Fund for Development (ADFD), ranked second for UAE foreign aid contributions in 2015 according to a report titled ‘UAE’s Foreign Aid in 2015’ by the Ministry of Foreign Affairs and International Cooperation (MoFAIC). ADFD’s expenditure amounted to AED2.70 billion (US$736.73 million), other funds and charitable organisations contributed AED1.76 billion and the UAE ...

  Abu Dhabi / Emirates Business ADNOC Distribution announced the opening of Al Muhathab service station in Umm Al Quwain as part of its ongoing efforts to consolidate its service station network across the UAE. The company has leveraged its extensive expertise and unique capabilities in the construction of the new service station in order to meet its customers’ dynamic ...

Moscow / AFP A Russian military plane crashed on its way to Syria on Sunday, with no sign of survivors among the 92 onboard, who included dozens of Red Army Choir members heading to celebrate the New Year with troops. The Tu-154 plane crashed in the Black Sea shortly after taking off from the southern city of Adler where it had ...

  Daraga / AFP A powerful typhoon with gusts of up to 235 kilometres (146 miles) an hour hit the Philippines late Sunday, disrupting Christmas celebrations for tens of thousands who fled its approach, officials said. Typhoon Nock-Ten made landfall in the eastern island province of Catanduanes at 6:30 pm (1030 GMT), the state weather service said. There were no ...

  Bloomberg A patch of land in the shadow of Mount Fuji is becoming a testing ground for energy storage, with some of Japan’s leading companies trying to develop technologies such as spinning flywheels and fuel cells. The government of Yamanashi, a prefecture 102 kilometers (63 miles) west of Tokyo, is hoping that by attracting companies such as Panasonic Corp. ...

  Bloomberg As if investors in Asia’s troubled corporate bond markets don’t have enough to worry about, concern is mounting about whether South Korean shipyards will be able to repay record amounts of debt coming due next year. Yields on bonds of Daewoo Shipbuilding & Marine Engineering Co. and Samsung Heavy Industries Co. have shot up this year. The top ...

  Bloomberg The popularity of Argentine President Mauricio Macri has faded since he took office a year ago, as Latin America’s third-largest economy slid into recession and inflation soared. But his appeal among the nation’s farmers remains as strong as ever. That’s because of the stark difference between Macri and his predecessor, Cristina Fernandez de Kirchner, for an agriculture industry ...

  Bloomberg Six months after Britain voted to leave the European Union, the signs are pointing to a “hard” Brexit, according to a report by 12 academics and policy researchers. The shock decision has united the 27 other EU members to a degree rarely seen, while exposing how divided Britain is, U.K. in a Changing Europe, an EU-funded research program ...

  Dubai / WAM To realise the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to position Dubai as the capital of the Islamic economy, the Dubai Islamic Economy Development Centre (DIEDC) needs to continually adapt its Islamic economy strategy to reflect emerging trends across the sector’s ...

  Abu Dhabi / WAM UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan declared 2017 as the “Year of Giving” to promote the culture of giving back to the community and enhance the spirit of volunteering and loyalty to one’s country. The “Year of Giving” will focus on three main pillars: the first of which aims at creating a ...