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ABU DHABI / WAM Abu Dhabi Fund for Development (ADFD) appointed the Korea Development Institute (KDI), a Korean think tank, as expert consultant to advise on the need for a UAE-based Export Finance Programme. Mohammed Saif Al Suwaidi, Director-General of ADFD, and Dr Joon-Kyung Kim, President of KDI, signed a cooperation agreement in this regard at Fund’s headquarters. As an ...

DUBAI / WAM A seminar on the use of Blockchain has confirmed that Dubai is moving rapidly to achieve its goal of becoming the first government in the world to adopt the technology by 2020. During the seminar, organised by the Chief Information Officers Majlis, Dan Frankel, Blockchain Technology Consultant at ConsenSys, said that private sector institutions, which will benefit ...

DUBAI / WAM Halal Expo Dubai will strengthen UAE’s goal of leading and developing the Halal industry in the Arab region and beyond. The county has immense potential and resources to be the hub of Islamic economy and for attracting foreign investments to UAE as the country ranked third after Malaysia and Bahrain in Islamic economy and finance, stated by ...

DUBAI / WAM SHUAA Capital, a Dubai-based financial services provider, continues to support the growth of the Nasdaq Dubai Futures Market as it reaches new highs. Nasdaq Dubai broke a new record this month with the value of equity futures traded increasing 76 percent to AED17.6 million from previous high of AED10 millionin June. As the largest and most active ...

TOKYO / WAM Tawazun Holding and the University of Tokyo, UTokyo, in Japan have entered into agreement for joint collaboration and research and technology. Saif Mohamed Al Hajeri, Chief Executive Officer of Tawazun, and Professor Masatoshi Ishikawa, Dean of the UTokyo’s Graduate School of Information Science and Technology, signed the agreement in Tokyo on Tuesday. The agreement was facilitated by ...

Ras Al Khaimah / Emirates Business Ras Al Khaimah Exhibition Center, a Ras Al Khaimah Chamber initiative, has successfully hosted nine different consumer and specialist exhibitions during the first half of 2017 which drew 296,374 local and international visitors. Jamal Al Taher, Acting Director of RAK Exhibition Center, said: “The Center offered a wide variety of exhibitions and activities, and ...

Bloomberg Saudi Arabia promised deep cuts to crude exports next month, emphasizing its commitment to eliminating a global oil-supply glut even as OPEC and its allies said Libya and Nigeria would keep increasing output. Shipments from the Organization of Petroleum Exporting Countries’ largest producer will be capped at 6.6 million barrels a day in August, 1 million lower than a ...

SINGAPORE / Reuters Global oil demand could peak as early as 2024 if there are more efficiency gains in vehicles, greater market penetration by electric cars, lower economic growth and higher fuel prices, Goldman Sachs said in research note on refining on Monday. Economic expansion in emerging markets – led by India – may stave off reaching a peak until ...

Bloomberg Schlumberger Ltd., the world’s largest oilfield-services provider, has revamped a deal to buy Russia’s biggest drilling company, less than two years after a similar plan was scuppered amid opposition from the nation’s regulators. Schlumberger plans to buy 51 percent of Eurasia Drilling Co., the two companies said in statements that didn’t disclose the terms. The deal would be one ...

Bloomberg The merger of Alberta’s two main conservative parties creates a new political force in the heart of Canada’s oil patch that threatens to unseat Premier Rachel Notley and kill the province’s carbon tax. Members of the Wildrose and Progressive Conservative parties voted to create the United Conservative Party. Combined, those parties hold 30 of 87 districts, though they received ...