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Bloomberg California’s battle against climate change is being fought more fiercely in fast food restaurants than in Tesla Inc.’s car factory in Fremont. Seven years after the Golden State began offering credits to producers of low-carbon fuels, cities and companies across California are using diesel brewed from fats and oils to fuel everything from fire trucks to United Parcel Service ...

Bloomberg The US moved to impose more import duties on biodiesel from Argentina and Indonesia, after finding the fuel is being sold below fair market value. The US Commerce Department set preliminary import duties of as much as 70.05 percent on Argentine imports and set a 50.71 percent rate on biodiesel from Indonesia. “The Trump administration is committed to both ...

Dubai / Emirates Business Dubai Land Department (DLD) announced that the total value of real estate transactions for the first nine months of this yearreaching AED 204 billion, achieved through 52,170 transactions. According to the report, there were a total of 37,633 transactions for land, residential units and buildings, generating a value of over AED 88 billion. There were also ...

Abu Dhabi / WAM The UAE Central Bank has warned against Bitcoin, terming it as unofficial and lacking sufficient supervision. The warning was made by Mubarak Rashed Al Mansouri, Governor of the UAE Central Bank, on the sidelines of the Islamic Financial Services Board Summit which started in Abu Dhabi on Monday. “Some nations have announced that they are not ...

DUBAI / WAM The UAE has been ranked first among Arab countries in terms of quality and performance of postal services. Chairman of Emirates Post Group, Mohammed Sultan Al Qadi, said that the UAE’s top regional ranking on the Integrated Index for Postal Development (2IPD), is a great achievement, and constitutes a new element on the postal policy map for ...

ABU DHABI / WAM The UAE is home to eight Islamic Banks, accounting for approximately 20 percent of total assets in the banking sector, which comprises 23 percent of total domestic credit as of the end of August 2017, Mubarak Rashed Al Mansouri, Governor of the UAE Central Bank, said. “The growth of Islamic banking has been supported by robust ...

ABU DHABI / WAM Abu Dhabi Islamic Bank (ADIB) Group announced on Sunday that its net profit for the first nine months of 2017 rose 13 percent year-on-year to AED1.69 billion. “Net profit for the third quarter of 2017 delivered a 10.8 percent year-on-year rise,” the bank said in a press statement. Revenues increased by four per cent for the ...

DUBAI / WAM Abu Dhabi Securities Exchange (ADX), and Nasdaq Dubai signed an agreement to develop and launch an Index Futures contract based on the Abu Dhabi General Index (ADI), on Nasdaq Dubai’s derivatives platform. The ADI indicates the performance of ADX listed stocks and is widely tracked by the investment and trading community locally and internationally. The ADI’s value ...

DUBAI / WAM Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, attended the signing of 12 Memorandums of Understanding (MoUs) between Area 2071 and various local and international partners. Area 2071 seeks to find innovative solutions to current and future development challenges faced in a number of sectors. This ...

Abu Dhabi / Emirates Business Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, announced two major initiatives — the launch of the ADGM FinTech Innovation Centre and its global partnership with world’s largest startup accelerator Plug and Play — at its inaugural FinTech Abu Dhabi Summit. These two FinTech initiatives aim to support greater financial innovation, ...