News

Bloomberg Angela Merkel’s government aims to phase out herbicides containing glyphosate by the end of 2023, a move that could generate further headwinds for German drug and chemical giant Bayer AG. As part of the proposal approved by her cabinet on Wednesday, the government intends to oppose any request for the EU to renew the license to produce the weedkiller, ...

ABU DHABI / WAM The Abu Dhabi Department of Energy (DoE), issued the District Cooling Regulations and the District Cooling Applicability Regulations, recently approved by the Abu Dhabi Executive Council. The Abu Dhabi Government is thus the first in the Middle East and North Africa region to set up a complete integrated system for district cooling. This, in turn, reflects ...

ABU DHABI / WAM The manufacturing sector’s contribution to the UAE’s non-oil gross domestic product (GDP) grew 2.5 percent to AED122 billion ($33.21 billion) in real prices in 2018 from AED119.7 billion in 2017, according to figures revealed by the Federal Competitiveness and Statistics Authority. Being a mainstay to a diversified economy, the sector has maintained its steady growth over ...

ABU DHABI / WAM UAE-based banks received AED21 billion in commission income in 2018, with national banks getting 82.8 percent thereof, i.e. AED17.4 billion, according to statistics revealed by the Central Bank of the UAE. The foreign banks’ commission income amounted to AED3.4 billion, with the remaining amount claimed by branches of Gulf banks operating in the country. It’s noteworthy ...

Dubai / WAM Emaar Properties said on Tuesday it has hired banks to arrange a potential issuance of dollar Islamic bonds. In a statement on Dubai Financial Market where it’s listed, the property giant said that the planned issuance is part of Emaar’s $2 billion Trust Certificate Issuance Programme. It was also announced that Emaar Properties is seeking to issue ...

Bloomberg President Donald Trump sought to prod China into doing a trade deal before US presidential election in November 2020, or face even more difficult negotiations during his potential second term. “Think what happens to China when I win,” Trump said in a tweet on Tuesday. “Deal would get MUCH TOUGHER!” Trump said in his tweet that the US is ...

ABU DHABI / WAM A group of 100 fledgling firms from across the globe will showcase their innovative products and services aimed at battling the causes of climate change. Hi-tech mobile solar containers that can provide energy in remote parts of Africa, an alternative to firewood made of sugarcane waste and a driverless electric haulage vehicle – are among the ...

Dubai / WAM Dubai Aerospace Enterprise (DAE) Ltd. announced on Tuesday that its engineering division and Amman based MRO Joramco has obtained the European Aviation Safety Agency (EASA) Part-145, approval for the Boeing 777. This is the fourth EASA approval obtained by Joramco since its acquisition by the DAE, following the earlier EASA approvals for the Boeing 737 MAX, the ...

Abu Dhabi / WAM The UAE has initiated a project in Liberia to help rural women achieve sustainable income, food security and nutrition opportunities, as part of the UAE’s ongoing humanitarian works to empower women across the world. For this purpose, the Ministry of Foreign Affairs and International Cooperation (MoFAIC), the Food and Agriculture Organisation of the United Nations, FAO, and ...

Dubai / Emirates Business Emirates Flight Catering (EKFC) and Washington DC-based Cuisine Solutions (CSI) will co-invest in a joint venture to become the UAE’s sole distributor of sous vide products, under the name of Emirates Cuisine Solutions. Phase two of the joint venture will see the establishment of the world’s largest halal sous vide manufacturing facility in Dubai. Saeed Mohammed, ...