News

Abu Dhabi / WAM The Abu Dhabi National Oil Company (ADNOC), with its subsidiary company ADNOC Distribution, held the official opening ceremony for its new state of the art ‘North Depot’ aviation fuel facility at Abu Dhabi International Airport. The ceremony was hosted by Abdulla Salem Al Dhaheri, Director of Marketing, Sales and Trading for ADNOC, and Saeed Mubarak Al ...

Dubai / Emirates Business Immensa Technology Labs, the UAE’s leading Additive Manufacturing (AM or 3D printing) company, has launched the country’s first 3D printing facility in line with the ‘Dubai 3D Printing Strategy’ launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai. Immensa’s state-of-the-art facility houses over eight ...

Dubai / Emirates Business Emirates Global Aluminium, (EGA) the largest industrial company in the UAE outside oil and gas, on Monday announced Al Robot, a robotics competition that challenges students at universities and higher education institutions in the UAE to create a robot to tackle a real life challenge at EGA’s aluminium smelters. The competition asks university students to design, build ...

Dubai / WAM In line with the UAE #Year of Giving and reflecting the spirit of generosity and social solidarity that embodies the Holy Month of Ramadan, the Awqaf and Minors Affairs Foundation (AMAF), completed distribution of ‘Mir Ramadan’ food donations to more than 150 underprivileged families in Dubai to help them meet their daily requirements throughout the month. Under ...

Dubai / Emirates Business To strengthen links of cooperation between educational institutions in the UAE and centre’s specialized in advanced technology, science and space, The Mohammed Bin Rashid Space Centre (MBRSC) has signed a Memorandum of Understanding with University of Dubai (UD). The MoU aims to develop and qualify national human resources capable of working in space science technology sector, ...

Bloomberg Hong Kong Exchanges & Clearing Ltd. is sending a message to startup companies the world over: We want your business. The bourse operator proposed the creation of a new exchange that would allow firms to list before they’ve made a profit and permit dual-class shares, an issue that caused Hong Kong to miss out on Alibaba Group Holding Ltd.’s ...

Bloomberg Japan had a surprise trade deficit in May, as stronger-than-expected imports overpowered the best export growth in more than two years. Exports rose 14.9 percent from a year earlier (estimate +16 percent), according to data released by the Ministry of Finance. Part of that was a rebound from weak shipments last year caused by the Kumamoto earthquake in April ...

Bloomberg Takata Corp. fell by its daily limit after the embattled airbag maker was said to be planning to file for bankruptcy, paving the way for a sale of the 84-year-old Japanese company behind the biggest safety recall in automotive history. Shares of Takata declined 17 percent, the most since April 27, at the end of trading on Monday in ...

Bloomberg China’s home prices increased in fewer cities last month in the wake of cooling measures imposed by local authorities. New-home prices, excluding government-subsidized housing, gained from the previous month in 56 of 70 cities tracked by the government, compared with 58 in April, the National Bureau of Statistics said on Monday. Prices fell in nine cities and were unchanged ...

DUBAI­­­­ / Reuters Saudi Energy Minister Khalid al-Falih said the oil market is heading in the right direction but still needs time to rebalance, the London-based newspaper Asharq al-Awsat reported on Monday. “In my opinion, market fundamentals are going in the right direction, but in light of the large surplus in stockpiles over the past years, the cut needs time ...