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New York / WAM Dubai Chamber of Commerce and Industry led a delegation of UAE retail leaders to New York to participate in NRF 2019: Retail’s Big Show, the world’s largest retail expo and conference, where the delegates explored the latest trends and technologies reshaping the future of the global retail sector. The delegation was headed by Majid Saif Al ...

Abu Dhabi / Emirates Business The Sustainable Bioenergy Research Consortium (SBRC), a non-profit entity established by Masdar Institute that is part of Khalifa University of Science and Technology, on Wednesday announced the world’s first commercial flight using locally produced sustainable fuel on an Etihad Airways Boeing 787 powered by GE’s GEnx-1B engines. The flight from Abu Dhabi to Amsterdam marked ...

Bloomberg Opec and its allies plan to hold a meeting in March to assess their oil-production accord in Azerbaijan, and then ministers will gather to set policy in April, according to the organisation’s top official. The body that reviews the implementation of Opec’s supply cuts, the Joint Ministerial Monitoring Committee, will convene in the Azeri capital of Baku on March ...

Bloomberg India will not share the limited supply of Iranian crude allowed under a US waiver from sanctions with private refiners, according to people with knowledge of the matter. That is a departure from the earlier practice of splitting exempted volumes. The government has asked four state refiners led by Indian Oil to share the entire 9 million barrels of ...

Bloomberg Carlos Ghosn is on the verge of losing his final fingerhold on power within the world’s biggest car-making alliance, with Renault SA said to be laying plans to remove him as chairman and chief executive officer. Two months after Ghosn’s shock arrest for alleged financial crimes in Tokyo, the French carmaker’s board will probably meet in the coming days ...

Bloomberg A rare plot of land that’s zoned for a hotel near Singapore’s central business district has attracted a record bid as developers shift focus after last year’s property cooling measures. Midtown Development Pte, bid S$562.2 million ($415 million) for the site, the highest among eight offers received, the Urban Redevelopment Authority said. The land adjacent to Club Street, an ...

Bloomberg Du Zhenye outperformed his peers in China last year by selling nearly all his stock holdings and piling into bonds. He’s predicting 2019 will be similar for the market. “Bonds will be a sure bet,” said Du, who plans to buy short-dated debt issued by local government financing vehicles, as well as long-dated government and policy bank notes. Falling ...

Bloomberg More Xiaomi Corp shareholders are rushing for the exit. An undisclosed investor sold 231 million Class B shares at HK$9.45 apiece, according to people with knowledge of the matter, a 5.1 percent discount to Tuesday’s close. The placing follows the end of a six-month lockup last week that has allowed early shareholders to sell Xiaomi stock for the first ...

Bloomberg PT Bukalapak.com, an Indonesian e-commerce marketplace, is preparing to complete a new round of fundraising that includes $50 million from Mirae Asset-Naver Growth Fund, according to people familiar with the matter. The investment may be announced as soon as this week, said the people, asking not to be identified because the details aren’t yet public. They declined to comment ...

Bloomberg Aston Martin and Bentley Motors saw this crash coming — but it’s still going to sting. Speaking onstage at a conference in Detroit before and after the British Parliament rejected Prime Minister Theresa May’s Brexit deal, the chief executive officers of two companies synonymous with UK carmaking had been bracing for disaster. Both have been making arrangements to do ...