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Bloomberg Cranberries might be a staple on Thanksgiving tables, but a glut of US supplies has gotten so large that fruit could be headed to the compost pile. Just as demand is hitting its seasonal peak, American processors are anxiously awaiting government approval that would allow them to turn excess fruit into fertiliser. The programme would be the first of ...

ABU DHABI / Reuters Abu Dhabi National Oil Company (ADNOC) has embarked on a major shake-up plan to priv- atise its services businesses, venture into oil trading and expa- nd partnerships with strategic investors, its chief executive said on Monday. The partial privatisation plan marks a major shift by the state energy company that was founded in 1971. It aims ...

ABU DHABI / WAM The Central Bank’s gross bank assets, including bankers’ acceptances amounted to around AED2.639 trillion during the month of October against AED2.643 trillion that was recorded in September. According to the CB statistics released on Monday, gross credit increased to as much as AED 1.584 trillion during October, two percent up from AED1.58 trillion in September. The ...

Abu Dhabi / Emirates Business The easing of key economic and political risks and the emergence of positive macroeconomic deal drivers will accelerate global deal activity in 2018, reveals the third edition of the Global Transactions Forecast issued by Baker McKenzie. Baker McKenzie’s global head of M&A, Michael DeFranco, said, “2017 played out as we predicted and there have been ...

DUBAI / WAM HH Sheikh Mansour bin Mohammed bin Rashid Al Maktoum inaugurated on Monday the new “Marinas” at the Mina Rashid Marina, which will harbour 5,000 yachts and boats and will accommodate 20,000 in the next few years. It is expected to be a new world-class touristic maritime and entertainment attraction. The project, carried out by P&O, part of ...

ABU DHABI / Emirates Business Brazil’s total exports rose 19.85 percent from $153.07 billion in 2016 to $183.46 billion from January to October 2017, according to the Arab-Brazilian Chamber of Commerce (ABCC). Of this total, 6.23 percent corresponded to Arab countries, which together accounted for $11.43 billion to surpass the previous year’s $9.34 billion by 22.31 percent. The hike in ...

DUBAI / WAM The Ministry of Finance (MoF) organised a workshop titled ‘Practical Application for the Avoidance of Double Taxation Agreements’, in cooperation with Organisation for Economic Cooperation and Development (OECD). The workshop was held in the presence of Yousuf Mohammed bin Hajar, Deputy Director of International Financial Relations Department at MoF, and more than 60 representatives from the MENA ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Monday received Dmitry Rogozin, Deputy Prime Minister of Russia, at Qasr Al Bahr in Abu Dhabi. Sheikh Mohamed welcomed the visiting Russian Deputy Prime Minister and discussed bilateral relations and ways to enhance ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, received on Monday at Al Shai Palace, Somali President Mohamed Abdullahi Mohamed, who is currently in a visit to the UAE. Sheikh Mohamed welcomed the Somali President and his accompanying delegation and discussed fraternal ...

Dubai / WAM Dubai Multi Commodities Centre (DMCC), the world’s leading Free Zone for trade and enterprise in Dubai, has confirmed that the development of its new 7,500 sqm DMCC Coffee Centre, close to Jebel Ali Port harbour, is underway, marked by a ground-breaking ceremony attended by China’s Mega Capital Halal and Yunnan State Farms Group. The DMCC Coffee Centre, ...