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Abu Dhabi / WAM The Department of Urban Planning and Municipalities (DPM), is among several government entities that have initiated preparations for the World Urban Forum 2020 (WUF10), in Abu Dhabi – the first WUF to be held in the Arab region. The emirate has been selected by UN-Habitat to host the prestigious event, which brings together global leaders to ...

Dubai / WAM Dr Aisha bint Butti bin Bishr, Director-General of the Smart Dubai Office (SDO), presented the chapter on happy cities from the Global Happiness Policy Report, issued by the World Happiness Council on the sidelines of the 6th World Government Summit (WGS 2018). The Council had held a meeting at the Summit, attended by Ohoud bint Khalfan Al Roumi, ...

LONDON / Reuters The rise in global oil production, led by the United States, is likely to outpace growth in demand this year, the International Energy Agency said on Tuesday. The Paris-based IEA raised its forecast for oil demand growth in 2018 to 1.4 million barrels per day, from a previous projection of 1.3 million bpd, after the International Monetary ...

Bloomberg Oil demand in India rose 10.3 percent in the first month of 2018, the fourth straight monthly gain. Total oil consumption expanded at the fastest pace in 14 months to 16.9 million tons from 15.3 million a year ago, according to the oil ministry’s Petroleum Planning and Analysis Cell. Improvement in road freight transport following the stabilization of the ...

CAIRO / Reuters BP is looking to invest over $1 billion in Egypt this year, making the country once again a top destination for investment, its CEO said. Speaking at an industry event in Egypt, Bob Dudley said the company was no longer owed any money by the Egyptian government. “The government owes us no money,” he said on the ...

Bloomberg UK utilities may have to delay or give up on building power stations as new generators won only a fraction of the capacity offered in a tender to provide backup electricity. The auction process, set up to encourage new installations, only saw 1.5 percent of the total going to proposed plants. The lack of new projects could put pressure ...

Bloomberg Lotte Group’s efforts to sell its China stores have stalled as buyers aren’t sure they will be able to run the outlets normally after government allegations of fire safety infractions, a company executive said. South Korea’s largest department store operator, Lotte Shopping Co., has taken a sales hit in China over the past year after the group provided land ...

Bloomberg HNA Group Co. agreed to sell two plots of land in Hong Kong to the city’s second-richest man for HK$16 billion ($2 billion) as the cash-strapped Chinese conglomerate accelerates asset disposals to repay its mounting debt. The sites, purchased just over a year ago, were sold to billionaire Lee Shau Kee’s Henderson Land Development Co., according to a statement ...

Bloomberg Coffee shipments from Vietnam, the world’s biggest robusta producer, will surge this year as farmers harvest a bigger crop, according to Industry and Trade Minister Tran Tuan Anh. Exports may total 1.55 million metric tons in 2018, Anh said in a written response to Bloomberg questions. Production is set to increase about 4.5 percent to 1.6 million tons in ...

Bloomberg Warburg Pincus, the private equity firm that’s been betting on the growth of the Asian logistics sector, is forming a joint venture to develop industrial properties in Vietnam. The New York-based firm and Vietnam’s Investment & Industrial Development Corp., the state-owned firm known as Becamex IDC, are committing more than $200 million to the partnership, Warburg Pincus said in ...