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ABU DHABI / WAM The Ministry of Economy discussed the means of developing the economic relations between the UAE and the United States (US), as well as their overall cooperation, especially in the area of standards and metrology and their commercial application. Juma Mohammed Al Kait, Assistant Under-Secretary for the Foreign Trade Sector of the Ministry of Economy, explained that …

ABU DHABI / WAM Emirates Global Aluminium (EGA) on Monday signed a volume commitment extension agreement for 2019 with the global shipping company AP Moller — Maersk to transport EGA’s aluminium to customers around the world. EGA exports its metal to customers in more than 60 countries worldwide and makes more than 11,000 shipments each year using over 100,000 containers. …

DUBAI / WAM An Italian delegation led by Liborio Stellino, Ambassador of Italy to the UAE, has visited Dubai Electricity and Water Authority (Dewa), and discussed ways to enhance strategic partnerships between Dewa and Italian organisations, and exchange best global experiences and practices. This is one of a series of visits by diplomatic and consular officials to Dewa to consult …

Bloomberg Saudi Arabia led fellow members of the Opec+ coalition to reaffirm their commitment to output cuts, but conceded they should defer until June the decision on whether to extend the curbs. A committee of the most influential members in the 24-nation alliance, which includes Russia, Iraq and the United Arab Emirates, agreed to go beyond their pledged supply curbs …

DUBAi / WAM Innovation is never a tool to surpass heritage, experts argued during a joint forum held by the Hamdan bin Mohammed Heritage Centre and the Zayed University. In the digital age and at the heart of the 4th Industrial Revolution, heritage is celebrated in the UAE and not forgotten. The Innovation and Heritage Forum aimed to promote research …

Bloomberg The Organization of Petroleum Exporting Countries (Opec) and its allies have much work to do to balance global oil markets and are prepared to do what’s necessary in the second half, Saudi Energy Minister Khalid Al-Falih said. The 24-nation coalition known as Opec+ needs to “stay the course” until June as its job is nowhere near complete in terms …

DUBAI / Emirates Business UAE start-ups secured $31.36 million in investments which account for 88 percent of the whole deal value of the region. Local services, e-commerce & financial services are the top three industries accounting for 44 percent of the entire deal count. In addition, logistics (9.3 percent), software (7.1 percent), media (4.6 percent), education (4.6 percent) and transportation …

Bloomberg Oil gained for a second straight week as Opec assured traders it’s committed to culling supplies ahead of a key meeting with allies in Azerbaijan this weekend. Futures advanced 4.4 percent in New York and settled just pennies off a four-month high. Opec self discipline and a surprise reduction in US crude inventories signalled tightening supplies, but concern that …

Bloomberg The Boeing Co. 737 Max crash in Ethiopia looks increasingly likely to hit the planemaker’s order book as mounting safety concerns prompt airlines to reconsider purchases worth about $57 billion. VietJet Aviation JSC, which doubled its order to 200 of the aircraft priced at about $25 billion only last month, said it will decide on its future plans once …

DUBAI / Emirates Business Dubai ranked first globally in attracting foreign direct investments (FDIs) for artificial intelligence (AI) and robotics; while the UAE ranked sixth in the global smart service index, surpassing the US, UK and South Korea. The emirate has attracted from 2015 to 2018 $21.6 billion worth of FDI in high-end technology transfers, with the most from the …