News

  Bloomberg European competition authorities may be formally notified of 21st Century Fox Inc.’s bid for the rest of Sky Plc in March at the earliest, setting off reviews of the $14.5 billion deal, according to a person familiar with the matter. The companies’ filing to the EU allows regulators to check whether the deal might harm competition. It would ...

  Bloomberg The price of power for delivery on Christmas Day in Germany turned negative as a surge in wind generation is forecast to boost supply. Prices may be below zero for hours or even whole days during the holiday season as German wind output is predicted to climb to near-record levels and temperatures are set to increase more than ...

  Bloomberg The US economy expanded more than previously reported last quarter on bigger contributions from a range of factors including services spending, intellectual property and construction by state and local governments. Gross domestic product rose at a 3.5 percent annualized rate in the three months ended in September, compared with a prior estimate of 3.2 percent, Commerce Department figures ...

  SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) signed a Memorandum of Understanding (MoU) with China Council for the Promotion of International Trade, to establish a long term partnership, involving economic collaboration in various sectors. The MoU, which aim to enhance Sharjah’s ties with international trade partners, will pave the way for a unique and mutually ...

  ABU DHABI / WAM The Abu Dhabi Fund for Development (ADFD) explored new ways of collaboration and cooperation with Maldives at a meeting between Mohammed Saif Al Suwaidi, Director-General of ADFD and the non-resident Ambassador of Maldives to the UAE, Abdullah Hamid. The meeting, attended by ADFD’s senior management, highlighted joint endeavours, opportunities and partnerships within the islands, to ...

  DUBAI / WAM Emirates Global Aluminium (EGA) and GE Power signed a Memorandum of Understanding (MoU) to work together on a 100-day programme to reduce EGA’s nitrogen oxide (NOx) emissions under the UAE Government Accelerators programme. Abdulla Kalban, Managing Director and Chief Executive Officer of EGA, and Joseph Anis, President and Chief Executive Officer, Power Services for the Middle ...

  DUBAI / WAM As part of the Emiratisation initiative to employ more UAE nationals in the private and public sectors, Emirates Central Cooling Systems Corporation (Empower) announced on Wednesday a 13% increase in 2016 in the employment of UAE nationals in company. “We are operating in a very specific and prolific industry, with so much potential for growth. As a ...

  Dubai / WAM The UAE is accelerating its efforts to boost the industrial sector and make it a valuable contributor to the national economy, turning the ‘Made in UAE’ label into a mark of quality and global excellence and can achieve this through successful partnerships with international manufacturers, and stimulating investments in industry, said HH Sheikh Ahmed bin Saeed, Chairman ...

  Ajman / WAM The Ajman Chamber of Commerce and Industry discussed ways and means to promote bilateral economic relations with the Republic of Serbia. The discussions took place during a recent meeting between Mohammed Al Janahi, Executive Director of Investment and Business Development Sector of the Ajman Chamber of Commerce, and Milos Presic, the Charge d’affaires in the Embassy of ...

  Dubai / WAM Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority, DEWA, inaugurated the 400/132 kilovolt (kV) substation at the Mohammed bin Rashid Al Maktoum Solar Park. The AED275 million substation is one of the first projects of the solar park and has a conversion capacity of 1,515 megavolt amperes, MVA. It will transmit and ...