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Emirates Business It is not hype, social media has pervaded everyday life comprehensively. In its uses, social media has transcended its nomenclature, and is now regularly used for activities that are traditionally considered, not ‘social’, such as job recruitment. According to the Society for Human Resource Management (SHRM), approximately 84% of organizations used social media for recruitment in 2015. “Social ...

Bloomberg Federal Reserve Chair Janet Yellen spelled out what she means by data dependence, asserting her leadership of the U.S. central bank with a clear message that interest rates will be raised at a cautious pace. In one of her most detailed policy discussions this year, Yellen gave investors a list of conditions they need to watch for future rate ...

Bloomberg Bond investors in Venezuela have made a dispiriting discovery. Last week, traders started quoting prices on a $3 billion note issued by the nation’s state-owned oil company. While the eight-year securities were first sold in October 2014 under New York law, according to data compiled by Bloomberg, not much else is known. The bonds don’t trade on any U.S. ...

Bloomberg Brazil’s real led losses among its most-traded peers as the central bank stepped in to weaken the currency, extending a program announced this month after three years of trying to support the real. The real fell 0.3 percent to 3.6388 per dollar on Tuesday in Sao Paulo, the only drop among 16 major currencies, after earlier falling as much ...

Bloomberg Renewable energy developers won contracts to produce 1,720 megawatts of power in Mexico during the country’s first-ever private auction, after the government ended a decades-long state electricity monopoly in 2013. Seven wind and solar companies including Enel Green Power, SunPower Systems Mexico and Recurrent Energy won 15-year contracts to rights to provide the state-owned Comision Federal de Electricidad with ...

Bloomberg Illinois farmer David Erickson admits that what he and many U.S. farmers are about to do doesn’t seem to make much sense. With bulging stockpiles of corn and soybeans left over from last year’s harvest, they’re planting more in 2016 — even though the crops probably won’t be profitable. “It’s hard to get your head around the idea of ...

DUBAI / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, on Tuesday announced that Dubai recorded a non-oil foreign trade of AED 1.283 trillion in 2015 with AED 796 billion of imports, AED 132 billion of exports, and AED 355 billion of re-exports. Sheikh Hamdan asserted that economic ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and in his capacity as Ruler of Abu Dhabi, has issued an Emiri Decree on reshuffling the Supreme Petroleum Council under his chairmanship. The decree also named the following as members: His Highness Sheikh Mohamed bin Zayed Al Nahyan as Vice President, HH Sheikh Hazza bin Zayed ...

DUBAI / WAM The United Arab Emirates has ranked 19th globally in the Global Entrepreneurship Index (GEI) Report 2016, advancing one spot from last year and surpassing countries such as Norway, South Korea, Turkey and Japan. The UAE topped the list of countries within the Middle East and North Africa region, which comprises 15 countries, including Turkey. An analysis of ...

ABU DHABI / WAM Sultan bin Saeed Al-Mansouri, Minister of Economy, discussed economic and trade cooperation with Egypt and Czech Republic, and ways to strengthen the bilateral relationship for greater mutual benefit. Al-Mansouri held separate meetings with Wael Jad, Ambassador of the Arab Republic of Egypt and Alexander Sporish, the Ambassador of the Czech Republic to the UAE. During his ...