News

  DUBAI / Emirates Business HE Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA) announced that DEWA will launch Concentrated Solar Power (CSP) projects that will generate 1,000MW by 2030, to carry out the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler ...

  Dubai / WAM The Dubai Gold and Commodities Exchange (DGCX) witnessed a strong upswing across its precious metals, hydrocarbon and equities segments trading during May. The exchange recorded an aggregate of 1.5 million contracts in May, growing 55 percent from last year, while Year-to-Date (YTD) volumes saw an increase of 47 percent from last year, trading over 7.7 million contracts so ...

  Dubai / Emirates Business The Ministry of Climate Change and Environment (MCCE) held a workshop to prepare a national plan for the protection of sharks. The workshop is part of a larger national strategy that aims to protect biodiversity and achieve the objectives related to developing and implementing programs that sustainably manage endangered marine resources. Attendees discussed the proposed goals, ...

  Dubai / Emirates Business Three of the maritime industry’s most respected global professional bodies have announced their commitment to September’s Maritime Academic Conference and Expo in Dubai, demonstrating the priority they are giving to regional education and training needs. The Nautical Institute, the Institute of Marine Engineering Science and Technology and the Royal Institution of Naval Architects have confirmed ...

  Dubai / WAM Emirates SkyCargo is strengthening its footprint in the Far East and Indian Subcontinent with the launch of a new weekly freighter service from Hong Kong to Dubai via Delhi. The weekly service, which began on Wednesday, will tap the increasing cargo movements between Hong Kong, the world’s top cargo hub, and Delhi, India’s busiest cargo hub. Some ...

  Dubai / Emirates Business The Ministry of Health and Prevention has signed a Memorandum of Understanding (MoU) to improve diabetes awareness and care for patients in the UAE with Sanofi. The announcement is an initiative aimed at improving physicians and nurses’ capabilities in providing standardized treatment for diabetes patients, and enhancing prevention and awareness among healthy individuals in society ...

  Bloomberg The world’s food-import bill is set to tumble to a seven-year low in 2016 as a decline in grain prices and lower freight rates more than compensate for increased imports, according to the United Nations. Countries around the globe will probably spend $986 million importing food this year, the first drop below $1 trillion since 2009, the UN’s ...

  Bloomberg Brazil’s industrial output unexpectedly rose in April, adding to indications that Latin America’s largest economy is close to hitting bottom. Production rose 0.1 percent in April after a 1.4 percent jump in March, the national statistics agency said on Thursday in Rio de Janeiro. That surprised all but one of the 37 economists surveyed by Bloomberg, whose median ...

  Bloomberg Filings for U.S. unemployment benefits declined for a third consecutive week, signaling sustained firming in the labour market. Jobless claims fell by 1,000 to 267,000 in the week ended May 28, a Labor Department report showed on Thursday. The median forecast of economists surveyed by Bloomberg called for applications to edge up to 270,000. Dismissals have been unusually ...

  Bloomberg Monsanto Co. agreed to allow Argentina to help collect soybean royalty payments, according to two people with knowledge of the situation, a deal that may hasten the end of a lengthy dispute between the U.S. seed company and farmers in one of the world’s biggest agricultural exporters. St. Louis-based Monsanto also agreed to give the government full control ...