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AMMAN / WAM Ways of developing cooperation between the UAE and Jordan were the main topic of discussions at a meeting between the UAE Ambassador to Jordan Mattar Saif Sulaiman Al Shamsi and the Chairman of theJordanian-Emirati Brotherhood Committee Samir Abdul Hadi, at the embassy’s premises in Jordan. During the meeting, the two sides discussed means of enhancing aspects of …

Abu DHABI / WAM The number of projects funded by the Khalifa Fund for Enterprise Development (KFED) reached 1,364 projects in 2017, of which 27 percent are industrial projects while the total value of funding approved by the fund exceeded AED1.6 billion since its establishment in 2007. In an interview with the Emirates News Agency (WAM), Abdullah Saeed Al Darmaki, …

Dubai / Emirates Business As the Middle East accelerates its digital transformation and Smart Cities growth, regional data center spend will reach a record-high of $5 billion by 2020, industry experts announced ahead of GITEX Technology Week. Middle East and North Africa data center spend to reach a record high of $5.1 billion by 2020, increasing by 8.5 percent from …

Bloomberg European nations are far behind Mexico and China when it comes to receiving liquefied natural gas from the US, but the region is making its biggest effort to date to change that. European Commission trade officials will travel to Washington on August 20 to follow up on an energy agreement last month between the Commission’s President Jean-Claude Juncker and …

Bloomberg Saudi Arabia’s sovereign wealth fund is in talks that could see it becoming a significant investor in Tesla as part of Elon Musk’s plan to take the electric car maker private, according to a person with direct knowledge of the fund’s plans. The Public Investment Fund (PIF), which has built up a stake just shy of 5 percent in …

Bloomberg Some of the latest battery technologies may become obsolete before reaching the market because of the breakneck pace of advances in the industry. Teams of scientists from San Francisco to Shenzhen are experimenting with new chemical processes to improve the traditional lithium-ion cell and find new ways to bottle up electricity for use at another time. Investors in those …

DUBAI / WAM Emirates Central Cooling Systems Corporation (Empower) reported that the number of its online transactions is continuously growing. The company recorded a total of 250,000 transactions performed through its e-services system from January to July 2018. Empower aims to increase the number of e-services subscribers to achieve 100 percent online transactions. The e-services allow customers to pay bills …

DUBAI / Emirates Business Emirates has launched one of its biggest sales yet with special fares to over 70 global destinations within its network. Passengers can still plan a short getaway before the summer season ends to destinations in the Americas, Europe, Middle East, and the Far East. The offer applies to bookings made on Sunday until August 20 for …

Bloomberg General Electric Co. is working with bankers on a possible sale of its power-conversion business, people familiar with the matter said, as the fallen manufacturer attempts to regain its footing by slimming down. The unit formerly known as Converteam could fetch about $1.5 billion, below the $3.2 billion GE paid for the assets in 2011, said the people, who …

Bloomberg State-owned Indian Oil Corp. posted a 50 percent jump in quarterly profit as the margin for converting crude into fuels more than doubled. Net income climbed to 68.3 billion rupees ($992 million) in the quarter ended on June 30, from 45.5 billion rupees a year earlier, the company said in a stock-exchange filing. That compares with the 53.3 billion-rupee …