News

  Bloomberg The U.S., Canada and Mexico put climate change at the center of efforts to deepen the North American alliance, pledging to cut greenhouse gas emissions from the oil and gas sector, boost the development of clean power and build new cross-border transmission lines. President Barack Obama, Canadian Prime Minister Justin Trudeau and Mexico President Enrique Pena Nieto completed ...

  Bloomberg Argentina unveiled the results of revised growth numbers for the past decade as the government of President Mauricio Macri seeks to restore investor confidence undermined by the previous administration. The data confirmed that the new president inherited an economy in recession. Gross domestic product shrank 0.7 percent in the first quarter from the last three months of 2015, ...

  Bloomberg California is warning of natural gas shortages and potential blackouts this summer after a historic leak near Los Angeles. Meanwhile, it’s sending increasing volumes of the power-plant fuel to Mexico. Deliveries to the North Baja pipeline system in Mexico from California jumped 45 percent to 441 million cubic feet compared with two weeks ago, according to data compiled ...

  Bloomberg The world is running short on sugar and the tighter supplies are driving prices to the highest in almost four years. Supplies from Brazil’s Center-South, the country’s top growing region, probably fell 26 percent in the first half of June from a year earlier after rains hindered harvesting, a Bloomberg survey showed. Industry group Unica is set to ...

  Bloomberg Intel Corp. is working with Mobileye NV to develop self-driving car technology for BMW AG, said people familiar with the matter. Senior executives from each company will hold an event on Friday to discuss the driverless-vehicle initiative, said the people, who asked not to be named because the details are private. Jerusalem-based Mobileye has been an early leader ...

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Abu Dhabi Executive Council, issued a resolution to merge International Petroleum Investment Company (IPIC) and Mubadala Development Company, Mubadala. The resolution stipulated that a joint committee be created and assigned with the ...

  Bloomberg Masdar and Electricite de France SA are jointly bidding to build a 350-megawatt solar power plant in Abu Dhabi as OPEC’s fifth-largest oil producer diversifies electricity sources to meet burgeoning demand. The partners plan to make the bid “as competitive” as the record-low offer that this week won Masdar the right to build a solar facility in neighboring ...

  ABU DHABI / EMIRATES BUSINESS Abu Dhabi Airports announced a 5.6% increase in passenger traffic at Abu Dhabi International Airport (AUH) for May 2016, compared to the same month last year. A total of 1,982,010 people traveled through AUH last month, exceeding May 2015’s figure of 1,877,440. A number of destinations witnessed noteworthy growth in passenger traffic, with the ...

  Dubai / Emirates Business Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, announced on Wednesday via his official Twitter account that the Reading Nation Ramadan campaign has exceeded its set target of five million books to reach over 8.2 million books. The books will be distributed to unprivileged children and ...

  Dubai / Emirates Business Following its commitment to transferring to smart government services by promoting e-payment operations in the UAE, the Ministry of Finance (MoF) launched the e-dirham card charging service through MBME for collecting fees and payment services, on Wednesday. As a strategic partner of the e-dirham initiative, National Bank of Abu Dhabi (NBAD) will be re-charging the ...