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DUBAI / WAM The UAE has been ranked as one of the world’s top Islamic fintech hubs with the country home to 12 start-ups specialising in this field, a new analysis from the Dubai Chamber of Commerce and Industry has revealed. The analysis, based on recent data from IFN Fintech, ranked the UAE fourth globally as an Islamic fintech hub. ...

Bloomberg A Boeing Co. 737 Max jet, operated by Indonesia’s Lion Air, crashed in the Java Sea with 189 people on board, making it the model’s first accident and potentially the worst commercial aviation disaster in three years. Flight JT610, an almost brand new 737 Max 8, took off from the capital Jakarta at 6:20 am local time on Monday ...

DUBAI / WAM The Dubai Maritime Cluster Office of the Dubai Maritime City Authority (DMCA) announced the signing of a new memorandum of understanding (MoU) with the Maritime Cluster of the Panama Maritime Authority, reflecting another important addition to Dubai’s strategic partnerships with the world’s leading maritime communities. The MoU aims to enhance bilateral cooperation across maritime research, training, consul- ...

Abu Dhabi / WAM The Emirates Defence Companies Council (EDCC), is preparing to launch a new strategy that aims to bolster its role in enabling UAE’s defence and security industries sector, said Mohamed Helal Al Muhairi, Director-General of the Abu Dhabi Chamber of Commerce and Industry and member of the Council’s Board of Directors. Al Muhairi made the remarks while ...

Dubai / Emirates Business GulfHost 2018, the complete hospitality equipment and sourcing expo for the Middle East, Africa and Asia, opens at Dubai World Trade Centre (DWTC) on Tuesday amid an expanding regional industry and sweeping shifts in consumer preferences as high-end hotels and mid-level options fight for market share with quick-service restaurants. The industry-shaping expo, which runs from October ...

Dubai / WAM Emirates is gearing up to launch the world’s first “biometric path” which will offer its customers a smooth airport journey at the airline’s hub at the Dubai International airport. Utilising the latest biometric technology – a mix of facial and iris recognition – Emirates passengers can soon check in for their flight, complete immigration formalities, enter the ...

Bloomberg Russia is set to suffer the biggest revenue losses from rules mandating cleaner marine fuels from 2020, because the world’s top exporter of the sulfurous residual oil that powers ships doesn’t look prepared for the change. Refineries across the world are bracing themselves for the once-in-a-generation shift intended to reduce pollution caused by ships. While plants in Europe and ...

Bloomberg C2 Energy Capital LLC, a New York-based clean-energy developer, raised $21 million to invest in new projects. About half of the money raised for the C2 Taiyo Fund I LP fund is already committed to specific projects. The fund will target renewables and storage investments, including a 51-megawatt solar portfolio being built in South Carolina. C2 develops, owns and ...

Bloomberg Forget Asian hunger for energy or where liquefied natural gas (LNG) costs the most, at the moment it’s all about tanker rates. Northwest Europe has seen a boom in LNG imports this month, with cargoes arriving from atypical sources including Peru and Egypt, while the US and Russia are also sending tankers into the most liquid gas market outside ...

Bloomberg Steelmakers in China and the rest of the world need to do more to reduce overcapacity, according to Guido Kerkhoff, CEO chief executive officer of Germany’s ThyssenKrupp AG. While China made good progress in curbing over-production, there’s room for even more cuts, Kerkhoff said. China has reshaped industry in past three years by closing plants, tightening environmental controls and ...