News

ABU DHABI / WAM AlBayt Mitwahid, an initiative established by the staff of the Abu Dhabi Crown Prince’s Court has joined hands with Sandooq Al Watan, a nationwide initiative by leading Emirati entrepreneurs to support sustainable advancement and prepare for the post-oil era, and Al Khayarat Foundation, to launch the ‘Jousoor’ initiative aimed at developing the skills of Emirati students ...

DUBAI / WAM Dubai Electricity and Water Authority (DEWA) has awar-ded a AED 46 million contract for the first phase of the construction of its new headquarters, called Al-Sheraa, to Dutco Balfour Beatty, who offered the lowest bid and competed with 10 leading international companies. The contract for Phase 1 includes shoring, dewatering, excavation, piling, fencing and associated works. Al-Sheraa ...

AJMAN / WAM The Ajman Chamber of Commerce and Industry (ACCI) signed an agreement with the Smart Solution Marketing, for the sixth edition of Ajman Education and Training Exhibition (AETEX) that will be held in 2018. The move is in line with the chamber’s keenness to support the educational sector and foster its sustainability and growth in Ajman and the ...

DUBAI / WAM The Telecommunications Regulatory Authority (TRA) has announced the launch of ‘TRA Innovation Camp’ in its third edition, starting from tomorrow, until August 10. The camp aims to orient the younger generation towards future technological horizons, support exploration, innovation, future shaping and develop self-technical skills of the youth, in line with the country’s approach in the Information Communication ...

Bloomberg The trillion-dollar global shipping industry may soon be forced to curb greenhouse gas emissions under new rules backed by the European Union and China. Over 200 representatives convened this week at the International Maritime Organization, the United Nations shipping supervisor based in London, to discuss regulation that could turn their industry, currently responsible for as much as 3 percent ...

Bloomberg Oil prices declined for the week, as expanded US drilling activity and added production offset a larger-than-expected drop in stockpiles. Futures fell 3.9 percent, even after US data showed the nation’s crude stockpiles dropped by 6.3 million barrels, three times as much as expected. US drillers went back to adding rigs this week, after breaking a record streak of ...

Bloomberg Ukraine is talking to one of France’s largest energy companies about building a giant, billion-euro ($1.25 billion) solar park in the uninhabited radioactive zone surrounding the abandoned Chernobyl nuclear reactor. Engie SA is beginning a pre-feasibility study funded by the French government next week with the results expected for the end of the year, Ukraine’s minister of ecology, Ostap ...

Bloomberg Berkshire Hathaway Inc. may face a challenge from bondholders led by Elliott Management Corp. to its $9 billion all-cash deal for Texas utility Oncor Electric Delivery Co. Billionaire investor Paul Singer’s Elliott, the biggest creditor of Oncor’s bankrupt parent Energy Future Holdings Corp., may seek to put together a rival bid, according to a person with knowledge of the ...

Bloomberg Australia wants more from its $68 billion investment in new ships and submarines than just a more capable navy. With final bids due this month on a A$35 billion ($27 billion) contract for nine anti-submarine frigates, Defence Industry Minister Christopher Pyne said Australia is seeking a bigger role in naval shipbuilding. “From an industrial point of view, it’s a ...

Bloomberg China’s bond investors are being given the chance to ratchet up leverage once again, but they may not want to. Months of scarcity have given way to a mysterious rush of liquidity in China’s financial system, with money-market rates back near levels seen in April. The market has responded accordingly, with bonds rallying in the last two weeks of ...