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Bloomberg Dry, hot and windy conditions are threatening to expand California’s largest wildfires, which so far are burning in largely rural areas, muting their economic impact. The fires, which have killed 12 people and burned an area almost as big as Rhode Island, have hit the tourism industry around Yosemite National Park but left agricultural areas mostly unscathed. “While the ...

Dubai / Emirates Business Peru’s Trade, Tourism and Investment Office has revealed that exports from Peru to the UAE have risen by almost 10,000 percent in seven years. Exports from Peru to the Emirates increased from $6 million in 2011 to $600 million last year thanks to increasing demand from consumers and the ongoing work of the Trade, Tourism and ...

DUBAI / WAM DP World on Tuesday announced the signing of the acquisition of 100 percent of the Unifeeder Group for euros 660 million (AED2.8 billion) from Nordic Capital Fund VIII and certain minority shareholders. Based in Aarhus, Denmark, Unifeeder operates the largest and most densely connected common user container feeder and an important and growing shortsea network in Europe, ...

ABU DHABI / WAM The energy sector is constantly evolving, transforming and experiencing a rapid pace of change across all sectors, said the Abu Dhabi Department of Energy Under-Secretary. “It’s the new normal,’ said Mohammed Juma Al Falasi, adding that the development of energy resources will drive the country’s economy for decades to come. Commenting on the upcoming Singapore International ...

CAIRO / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Abdel Fattah el-Sisi, President of Egypt, have discussed the relations between the UAE and Egypt and means of strengthening them, as well as regional and international issues of mutual interest. The discussion, which took ...

ABU DHABI / WAM Dr. Al Hassan Al Taher, Governor of Hodeidah, has warned of an Iranian plan to create a maritime crisis in the Strait of Hormuz and Bab Al Mandeb, in order to avoid an internal crisis and halt the re-imposition of sanctions. In his statement to the Emirates News Agency (WAM), Al Taher stressed that the end ...

DUBAI / WAM The Dubai Financial Services Authority (DFSA), in collaboration with 11 other financial regulators and associated organisations from around the world, on Tuesday, issued a discussion paper announcing the establishment of a Global Financial Innovation Network (GFIN) and consulting on its proposed functions. The GFIN is a network of leading global regulators, which will seek to conduct joint ...

Abu Dhabi / Emirates Business Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, is inviting the FinTech and RegTech companies and community in Abu Dhabi and the Mena region to participate and comment on a joint consultation proposing the role and details of a Global Financial Innovation Network (GFIN) initiated by the UK Financial Conduct Authority ...

DUBAI / WAM The Dubai Chamber of Commerce and Industry recently participated in the 4th Global Agribusiness Forum in Sao Paulo where it highlighted strengthening agricultural trade links between Dubai and Latin America, as well as key areas where bilateral trade can be increased in the future. The forum was attended by more than 1,500 key stakeholders ranging from businesspeople, ...

DUBAI / Emirates Business In recent years, since the oil price slump, plans have emerged across the Gulf to curb fiscal deficits and diversify economies, most notably through the development of national infrastructure, highlights a new report by Oliver Wyman. Titled “How Public-Private Partnerships can support the Gulf’s Economic development,” the report highlights the significance of the private sector’s contribution ...