News

  Dubai / WAM Smart Dubai and the Department of Economic Development (DED) on Thursday signed a memorandum of understanding (MoU) for the launch of a happiness meter for the private sector in line with best international standards and practices. Dr Aisha Bint Butti Bin Bishr, Director-General of the Smart Dubai Office, and Sami Al Qamzi, Director-General of the DED, attended ...

  New York / WAM Hedayah, the Abu-Dhabi-based International Centre of Excellence for Countering Violent Extremism, on Thursday welcomed the announcement of expanded support from the United Kingdom’s Secretary of State for Foreign and Commonwealth Affairs, Boris Johnson, on the sidelines of the United Nations General Assembly. The foreign secretary met HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign ...

  Abu Dhabi / WAM The Ministry of Finance (MoF) in collaboration with the Central Finance Department of Sharjah, organised the second meeting of the Government Financial Policy Coordination Council for 2016. The meeting was headed by Younis Haji Al Khoori, Under-Secretary of the MoF and Chairman of the Government Financial Policy Coordination Council, and was attended by Saeed Rashid Al ...

  Dubai / WAM The Dubai Mercantile Exchange, the premier international energy futures and commodities exchange in the Middle East, on Wednesday announced two new fuel oil contracts to hedge the price differentials between Middle East fuel oil and Singapore fuel oil. The contracts will be listed on the DME as “Singapore vs. Middle East Fuel Oil 180 cst Spread Futures ...

  Dubai / WAM Dubai Silicon Oasis Authority (DSOA) the regulatory body for Dubai Silicon Oasis (DSO) and Alibaba Cloud, the cloud computing arm of Alibaba Group, has jointly hosted the Middle East finals of the “Create@Alibaba Cloud Start-up Contest”, CACSC at the Dubai Technology Entrepreneur Centre. The Dubai session saw the participation of 10 regional technology start-ups spanning multimedia, gaming, ...

  Dubai / Emirates Business Dubai Electricity and Water Authority (DEWA) organised its first Excellence Camp 2016, which took place at the Raffles hotel in Dubai. The camp aims to increase awareness about standards of excellence, based on the objectives set by the fourth-generation government excellence system. This will improve government work based on innovative standards, while enhancing excellence and ...

Bloomberg Korea Development Bank, the main lender to Hanjin Shipping Co., offered a conditional credit line of 50 billion won ($45 million) to help ease supply-chain disruptions caused by the collapse of the nation’s biggest container mover. The state-owned bank will extend the loan only if the funds pledged by Korean Air Lines Co., the largest shareholder, Chairman Cho Yang ...

  Reuters India is talking to the United Arab Emirates (UAE) and Saudi Arabia to fill half of the 1.5 million tonnes (mt) of the Mangalore strategic storage, along with Iranian crude, its oil minister said on Wednesday. Dharmendra Pradhan told a news conference India is exploring two to three other models for sourcing oil to fill the remainder of ...

  AFP Indonesia’s central bank cut its benchmark interest rate on Thursday in a bid to boost sagging growth, given space to act thanks to the Fed’s decision not to raise the cost of borrowing. Bank Indonesia slashed the rate by 25 basis points to five percent, as expected. The bank shifted to using the current, more short-term focused benchmark ...

  AFP India may have just spent billions of dollars on hi-tech French fighter jets, but experts say it needs to do a lot more if it is going to face up to an increasingly assertive China. The world’s top defence importer has signed several big-ticket deals as part of a $100-billion upgrade since Hindu nationalist Prime Minister Narendra Modi ...