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Dubai / Emirates Business Global food sector power brand Gulfood — the world’s largest annual food and beverage trade exhibition — is raising the international industry forum bar for its 24th edition, which will run at Dubai World Trade Centre (DWTC) from February 17-21, next year. Having already won major international acclaim for the breadth and depth of its offering ...

Abu Dhabi / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan issued Decree No. 09 of 2018, amending provisions in Resolution No. 03 of 2006 regarding the method applied in selecting the Federal National Council (FNC), representatives. According to the newly issued Decree, published in the latest issue of the Official Gazette, Article 4 (paragraph 1), Article 7, ...

Abu Dhabi / WAM Masdar, the Abu Dhabi Future Energy Company, announced on Wednesday the installation of the first of 13 turbines at the 50 megawatt (MW) Dhofar Wind Farm. Located in the southern Omani governorate of Dhofar, the project is fully financed by Abu Dhabi Fund for Development (ADFD), the leading national entity for international development aid. The project ...

Abu Dhabi / WAM The Federal Tax Authority (FTA), announced the completion of all preparations required to implement its ‘Marking Tobacco and Tobacco Products’ scheme. Entering into effect on 1st January 2019, the scheme involves the electronic monitoring of all types of imported, produced and locally-traded cigarettes, from production to consumer, to ensure full compliance with payment of excise tax. ...

Dubai / WAM Etihad Credit Insurance (ECI), the UAE Federal export credit company, and the Ras Al Khaimah Chamber of Commerce and Industry, has signed a Memorandum of Understanding (MoU) to support the local business community, particularly those from the trade and export sectors. The MoU was signed by Mohammed Hassan Al Sabab, Acting Director-General of RAK Chamber, and Massimo ...

Bloomberg A diesel glut in Asia is encouraging traders of the fuel to ramp up cargoes from India to Europe, where stockpiles were ravaged by refinery halts and unusual weather earlier this year. Around 577,000 tonnes of the fuel already arrived this month or are en route to Europe from India’s refineries — whose supplies get sent east or west ...

Bloomberg Hess Corp tumbled the most in almost three years, wiping out $1.5 billion in market valuation, after work at the oil explorer’s most promising international investment was halted by a Venezuelan blockade. The intervention threatened to derail development of a 5 billion-barrel discovery off Guyana’s coastline that is so important to Hess’s future growth plans that it receives top ...

Bloomberg North and South Korea staged a symbolic ground-breaking ceremony to upgrade severed rail links, although UN Security Council approval would be needed to advance the project. Long-stalled plans to restore rail links severed by the Korean War were revived in historic summits by North Korea leader Kim Jong-un and South Korean President Moon Jae-in earlier this year. While South ...

Bloomberg It’s a familiar story: a Japanese company is embroiled in scandal, then executives take pay cuts in a bid to make everything right. SMBC Nikko Securities Inc. is the latest firm to do just that. Chief Executive Officer Yoshihiko Shimizu and Chairman Tetsuya Kubo are forgoing 20 percent of their salaries for two months after a former employee was ...

Bloomberg Thailand named Ruenvadee Suwanmongkol as secretary general of the Securities & Exchange Commission, appointing a woman to run the market regulator for the first time. Ruenvadee, who is currently the director general of the Legal Execution Department at the Ministry of Justice, will begin her new position on May 1, according to a statement on the government’s website. Prime ...