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Emirates Business Maqta Gateway LLC, an Abu Dhabi Ports subsidiary, announced that it is to carry out its first testing of international blockchain solution Silsal with a maritime operator in partnership with MSC Mediterranean Shipping Company, a global leader in shipping and logistics. The announcement marks the latest milestone for Silsal. The innovative solution provides a seamless and secure link …

STOCKHOLM / WAM Mariam Hareb Almheiri, Minister of State for Food Security, met Elisabeth Backte- man, State Secretary of Swed-ish Ministry of Enterprise and Innovation, to discuss means of enhancing ties in innovations in food technology. This meeting was held as part of UAE minister’s visit to Sweden, where she visited a number of research centres and companies which support …

Dubai / Emirates Business Etihad Credit Insurance (ECI), the UAE Federal export credit company, and SACE, the Italian export credit company (CDP Group), have signed a Memorandum of Understanding (MoU) to enhance business opportunities between the Unit-ed Arab Emirates and Italy, as part of the 6th meeting of the UAE-Italy Joint Economic Committee held in Rome, Italy. Under this MoU …

Bloomberg MEG Energy Corp. rejected a C$3.05 billion ($2.34 billion) hostile takeover offer from Husky Energy Inc. and announced a plan to seek other buyers, kicking off a bidding war for its prized Canadian oil-sands assets. MEG announced its rejection of the offer, which it said undervalued the company. MEG is seeking to draw out other potential buyers who may …

NEW YORK / WAM The United Arab Emirates and the United Nations Development Programme (UNDP) have announced a new Memorandum of Understanding that will allow UAE nationals to join the agency as full-time staff under a Junior Professional Officer (JPO) Programme. The agreement was signed by Reem Al Hashemy, Minister of State for International Cooperation, and Achim Steiner, Administrator of …

ABU DHABI / Emirates Business A predicted boom in flexible working could contribute $10.04 trillion to the global economy by 2030, according to the first comprehensive socio-economic study of changing workplace practices. The analysis, commissioned by Regus and conducted by independent economists, studied 16 key countries to delve into the state of flexible working both now and through 2030. Regus …

Bloomberg Oil hit the lowest in a month after the US government data showed expanding crude stockpiles. Futures fell as much as 3.2 percent in New York on Wednesday. Domestic crude inventories rose by more than twice the rate forecast by analysts last week, according to the Energy Information Administration. Stored supplies have been growing for four weeks, the longest …

Bloomberg Organisation of Petroleum Exporting Countries (Opec) again sought to reassure markets after one of its biggest customers complained about the pain of high prices. “There is no cause for alarm,” Opec Secretary-General Mohammad Barkindo said, adding that India had sent a letter bemoaning the state of the oil market. While insisting supplies are sufficient, he neglected to specify how …

Bloomberg HSBC Holdings Plc’s pension manager plans to invest 250 million pounds ($329 million) of its pension scheme into renewable energy infrastructure for wind and solar in the UK, joining around 30 other firms making similar climate change pledges. Amazon.com Inc. also committed to installing 20 megawatts of solar power at depots around the country, while EDF Energy Plc said …

Bloomberg PG&E Corp. has deliberately left customers in the dark for the first time as a precaution to prevent wildfires from breaking out. Almost 60,000 customers in six counties across the Sierra Nevada foothills and Northern California country were blacked out during a windstorm, according to Melissa Subbotin, a company spokeswoman. About 70 percent of those customers will have electricity …