News

Dubai / WAM The Business Park at Dubai South has announced it has entered into a strategic partnership with the Union of European Expert Chambers, UCEE, to establish a permanent exhibition and business centre for the members of the UCEE at the Business Park. The partnership aims to encourage European SMEs to set up their business in Dubai and the ...

Abu Dhabi / WAM The Department of Energy (DoE), issued an ‘Electricity Generation Licence’ to Barakah One Company, the joint venture subsidiary company owned by the Emirates Nuclear Energy Corporation (Enec), and the Korea Electric Power Corporation (KEPCO). The licence is a key regulatory requirement before operation of the peaceful Barakah Nuclear Energy Plants in Al Dhafra, Abu Dhabi. The ...

Abu Dhabi / Emirates Business The UAE Banks Federation (UBF) hosted a six-hour workshop examining the key issues around the upcoming implementation of the Basel III Accord. The event was held on Wednesday in Abu Dhabi, and the sessions have been arranged by the UBF Risk Management Committee (UBF-RMC) in association with Moody’s Analytics, with the aim to help the ...

Dubai / WAM Dubai’s Department of Tourism and Commerce Marketing, Dubai Tourism, and Saudi Al Tayyar Travel Group, have formed a strategic alliance with the aim of further enhancing Dubai’s position as the preferred destination for Saudi visitors. The partnership will pave the way for launching unique initiatives that will help expand Dubai Tourism’s marketing reach and visibility within Saudi ...

Abu Dhabi / WAM During its visit to the headquarters of the Abu Dhabi Global Market (ADGM), a delegation from the Board of Directors of the International Chamber of Commerce (ICC, UAE), led by Humaid Mohammed bin Salem, Chairman of the Board of Directors, was briefed about the key achievements and successes of the ADGM and its long-term plans. The ...

Bloomberg Russia, one of the world’s top three crude producers, is preparing the most radical shakeup of its oil-tax system since 1999. The changes, which will allow the nation’s producers to export crude and oil products duty-free while raising their costs at the wellhead, is set to get the go-ahead from President Vladimir Putin by year-end, bringing in much-needed funds ...

Bloomberg On a hot sunny day in July, Europe’s largest port is busy loading super-chilled liquefied natural gas onto a tanker, creating snow flurries during a heat wave. The cargo loaded at the Gate terminal in Rotterdam, which was built to import the fuel. Around the same time, a vessel from the Russian Arctic region arrived with another batch of ...

Bloomberg Shares of California utility owners PG&E Corp, Edison International and Sempra Energy climbed after Governor Jerry Brown indicated that utilities shouldn’t be responsible for future wildfire damages without considering whether they acted “reasonably.” The proposal wouldn’t affect the billions of dollars in potential liabilities PG&E and Edison face for blazes in 2017, Brown said. But it’s a win for ...

Bloomberg Fosun International Ltd., the Chinese group backed by billionaire Guo Guangchang, is considering an offer for all or parts of Belgian insurer Ageas in what could be its boldest move to expand its international footprint, people familiar with the matter said. Shanghai-based Fosun is talking to advisers about alternatives including teaming up with a partner to split the Brussels-based ...

Bloomberg Facebook Inc.’s apps and websites are still blocked in China, but that’s not stopping the social media giant from trying to open a center in the country to support local startups. Facebook set up a Chinese subsidiary, Facebook Technology (Hang Zhou) Ltd., earlier this month, according to a filing with the National Enterprise Credit Information Publicity System. The subsidiary, ...