News

  Bloomberg Jonathan Hill, sent to Brussels by U.K. Prime Minister David Cameron less than two years ago, resigned as the European Union’s financial-services chief in the wake of Britain’s vote to secede from the bloc. “As we move to a new phase, I don’t believe it is right that I should carry on as the British commissioner as though ...

  Paris / AFP Business groups in France and Germany on Sunday said EU nations should respond to Britain’s decision to quit the bloc by working even more closely together to limit the “turbulence” caused by the Brexit shock. In an joint appeal published in the French Journal du Dimanche, the heads of Germany’s powerful BDI and BDA industry groups and ...

  Rennes, France / AFP A surge in milk production since the EU lifted milk quotas has skimmed profits for dairy farmers, leaving them sour as authorities struggle to get to grips with the crisis. Last year the European Union finally got rid of its three-decade old milk production quotas that it had imposed to eliminate the milk lakes and butter ...

  ABU DHABI / WAM The Central Bank of the UAE stated that due to limited interconnectedness between the UAE and the UK financial systems, there are only few channels through which uncertainty about future UK and EU relations could affect the UAE financial institutions. Banks based in the UAE do not depend on foreign interbank markets to fund their ...

  Abu Dhabi / Emirates Business The UAE can achieve a whole new level of excellence and prosperity by making innovation a highlight of its strategic direction in a post-oil era, according to a new market analysis issued on Saturday. The report by PA Consulting Group says the UAE is a perfect example of how nations can emerge from being ...

  Dubai / Emirates Business Dubai’s largest night souq, Ramadan Night Market, opened its doors to public among much anticipation and excitement. The 10-day event, will be held untill July 2, at Za’abeel Hall 5, Dubai World Trade Centre, was inaugurated by HE Sami Al Qamzi, Director General of Dubai Department of the Economic Development, in the presence of organisers ...

  Abu Dhabi / WAM The UAE participated in the first annual meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB), the newly formed infrastructure development body, which was held from June 25 – 26 in Beijing, China. The Beijing meeting, attended by representatives of 57 member states, looked at measures to accelerate infrastructure development across Asia ...

  Dubai / WAM The Dubai Charity Association (DCA), under the supervision of the UAE Consulate-General in Lisbon, implemented an iftar project for the underprivileged and Muslims with Special Needs in Catalonia region on the occasion of the holy month of Ramadan. The project is the largest of its kind in Catalonia. The UAE Consulate-General in Barcelona has distributed 62 tonnes ...

  Dubai / WAM Dubai Electricity and Water Authority (DEWA) is ready to launch the 18th Water, Energy, Technology, and Environment Exhibition (WETEX 2016) from October 4-6 at the Dubai International Convention and Exhibition Centre. DEWA organises WETEX under the directives of Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, and under ...

  Sunaina Rana / Emirates Business Introducing novel and state-of-the-art technologies in waste management, UAE aims to lead the way in eco-friendliness. The Emirates has been focusing profoundly on the elements and techniques of recycling over the past few years. Development of the recycling industry as well as promoting new and innovative ways to collect and process all types of ...