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Bloomberg Just as Switzerland’s factories come roaring back, the rallying franc is a reminder of how the currency has the potential to pull the rug from under them. Industrial production is rising at the fastest pace since before the financial crisis and companies such as Schurter, a maker of electrical components, are seeing sales surge. Gross domestic product figures this ...

Bloomberg When BRF SA, the Brazilian food giant that produces everything from chicken to chocolate pies, reported a record annual loss for 2017, it took less than 48 hours for its second-largest shareholder to act. Previ, Brazil’s biggest pension fund, sent a letter in February demanding BRF Chairman Abilio Diniz convene a shareholder meeting to remove the entire board, including ...

Bloomberg Europe wants its industry to burn more natural gas instead of coal to reduce global warming. The problem is, there isn’t enough gas at the right price. Depleted gas stores after the coldest winter since 2012, coupled with pipeline constraints on flows from Russia and Norway, have driven prices to their highest level in at least five years. The ...

ABU DHABI / WAM The Abu Dhabi Business Centre of the Department of Economic Development (DED) has registered 2,935 licences during first quarter of 2018, an increase of 26% compared to the same quarter last year, which only saw 2,328 new licenses, according to the report issued for the first quarter of 2018. The report monitors commercial activities in Abu ...

FUJAIRAH / WAM The total foreign trade of Fujairah during 2017 was valued at AED14.377 billion, 5.9 percent higher than the 2016 figure of AED13.577 billion, according to the 2017 Yearbook issued by the Fujairah Statistical Centre. Direct foreign trade rose from AED5.995 billion in 2016 to AED6.372 billion in 2017, an increase of 6.3 percent. Of this, imports accounted ...

Bloomberg OPEC and allied oil producers including Russia concluded that the crude market re-balanced in April, when their collective production cuts achi- eved a key goal of draining the surplus in global stockpiles. The excess in oil inventories, which has weighed on prices for three years, plun-ged in April to less than the five-year average for stockpiles in developed nations, ...

DUBAI / WAM Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (Dewa) received a delegation from the Finnish company, Valmet in the renewable energy sector. Saeed Mohammed Al Tayer welcomed the Finnish delegation and discussed enhancing cooperation and exchanging best international experiences and expertise between Dewaand Finnish companies in renewable, clean energy and environmental sustainability.

ABU DHABI / WAM The Government of the UAE and the Government of the Republic of Kiribati initiated an Air Services Agreement (ASA). Omar bin Ghaleb, Deputy Director-General of the General Civil Aviation Authority (GCAA) of UAE, and Willie Tokataake, Ministry of Information, Communication, Transport and Tourism Development, of Kiribati signed the MoU. Saif Mohammed Al Suwaidi, GCAA Director-General said, ...

ABU DHABI / SINGAPORE/ WAM Abu Dhabi Global Market (ADGM), and KPMG Lower Gulf Limited (KPMG LG), have announced the launch of the second edition of the FinTech Abu Dhabi Innovation Challenge. The inaugural Innovation Challenge, organised last year, generated strong interest among regional financial institutions about the potential benefits of collaborating with FinTech start-ups. As a result, this year’s ...

ADEN / WAM The Emirates Red Crescent (ERC), held an iftar at the Sheikh Zayed bin Sultan Al Nahyan Mosque in Aden Governorate, Yemen, as part of its Ramadan iftar project for the Holy Month of Ramadan. The ERC volunteer team provided Iftar meals at the mosque for hundreds of people who came for prayers. The worshippers who participated in ...