News

Sharjah / WAM The Sharjah Electricity and Water Authority (SEWA), is preparing to launch 10 initiatives to encourage the community to participate in the ‘Peak Hour’ initiative launched by HH Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah. The Peak Hour will be held on July 1 every year from 2:30 to 3:30 pm, ...

Dubai / WAM Dubai Multi Commodities Centre (DMCC) and Emirates Post Group (EPG) have announced the signing of a Memorandum of Understanding (MoU). The agreement sees the provision of dedicated Emirates Post Business Boxes, and a range of exclusive postal services to DMCC’s 15,000 plus member companies, and its Jumeirah Lakes Towers (JLT), community of over 100,000 people. Ahmed bin Sulayem, ...

Abu Dhabi / WAM Dr Amal Abdullah Al Qubaisi, Speaker of the Federal National Council (FNC) met Paul Kavanagh, Ambassador of Ireland to the UAE, and discussed ways to enhance cooperation between the UAE and Ireland, especially in the parliamentary field between the FNC and the Irish Parliament. During the meeting, held at the FNC headquarters, they emphasised the importance ...

Dubai / WAM The 8th edition of the Annual Investment Meeting (AIM) that took place at the Dubai World Trade Centre (DWTC) saw the highest number of global investors gather in one venue, numbering 20,332, including more than 1,000 investment specialists and advisors from 143 countries conclude 1,852 business-to-business and 821 government-to-business meetings in three days. The high-profile event also was graced ...

Bloomberg OPEC and its allies are likely to gradually revive oil output in the second half of the year to ease consumer anxiety as prices trade near $80 a barrel, said Saudi Energy Minister Khalid Al-Falih. The Saudi comments, echoed by Russia, mark a major shift in the historic alliance they forged in 2016 to end a global oil glut. ...

Bloomberg Exxon Mobil Corp. plans to reduce the amount of natural gas it burns as waste by a quarter within two years to reduce climate-changing emissions, something long demanded by environmental groups and activist investors. Efforts will be focussed on oil wells off the coast of West Africa, Exxon said in a statement. In that region and others, gas produced ...

Bloomberg JPMorgan Chase & Co. is expanding its oil and gas group with two hires from Morgan Stanley. Jonathan Cox is joining the New York bank as global co-head of oil and gas investment banking and co-head of its Houston office, according to an internal memo obtained by Bloomberg and confirmed by a spokeswoman. Michael Johnson is joining as a ...

Bloomberg President Donald Trump said the US would allow Chinese telecommunications-equipment maker ZTE Corp. to remain in business after paying a $1.3 billion fine, changing its management and board and providing “high-level security guarantees.” In a tweet on May 27, Trump confirmed a deal that his administration had outlined for members of Congress, according to two people familiar with the ...

Bloomberg China is considering encouraging state-owned carmakers to bring in private automakers as investors as it seeks to create an industrial champion to compete with global peers such as Toyota Motor Corp. and Volkswagen AG, according to people with direct knowledge of the matter. A policy paper outlining the proposal is being studied by government departments, said the people, who ...

Bloomberg Xiaomi Corp. aims to seek formal Hong Kong stock exchange approval on June 7 for an initial public offering that could raise about $10 billion, people with knowledge of the matter said. The Beijing-based smartphone maker hopes to price the share sale late next month if its application is approved by the bourse’s listing committee, according to one of ...