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Bloomberg The world’s biggest shipping company is taking advantage of low industry prices to build its business across units. A.P. Moeller-Maersk A/S unveiled its latest venture on Thursday, when its APM Terminals unit said it will invest $859 million in a Moroccan port facility. That follows the closing earlier this month of the unit’s $1 billion acquisition of a Spanish ...

Bloomberg Puerto Rico won another week to submit a proposed rate fee to the commonwealth’s energy commission, a charge that would repay debt used to restructure about $9 billion owed by its main power utility. Puerto Rico Electric Power Authority creditors agreed to give officials until April 7 to file their petition to create a new customer fee, called a ...

Bloomberg With Minneapolis-St. Paul’s health-care industry booming, scientist Erin Nelson fielded more than 20 unsolicited calls in the past year asking her to consider switching jobs. She took one in September at a 40 percent raise. “Pay is becoming much more competitive,” said Nelson, 35, who designs research projects for medical-device companies. “It is a nice feeling to have job ...

Emirates Business Etihad Airways’ equity investment model has created a new force in global air travel, which protects and promotes competition, said the airline’s President and Chief Executive Officer James Hogan, in a speech in Melbourne on Thursday. Speaking at the City Business Luncheon at Melbourne City FC, Hogan outlined the challenges faced by airlines trying to bring new competition ...

DUBAI / WAM Dubai Electricity and Water Authority, (DEWA), has developed its use of drone technology as part of its Sirb (Arabic for fleet) initiative, which contains a fleet of high-end drones used to support Dubai’s infrastructure and contribute to providing efficient and easy-to-use services. The initiative supports national efforts to use modern technologies to serve humanity. DEWA has improved ...

Sunaina Rana / Emirates Business Joining the league of UAE’s commitment towards promoting sustainable products is an internationally renowned school uniform brand that brings innovative technology to develop sustainable fabric for uniforms. In wake of the global climate concerns, encouraging eco-friendly products are a must. However, experts suggest they should be continuously improved regarding social and environmental variation and requirements. ...

Emirates Business Bringing sci-fi to reality, the launch of the Smart Home Experience Zone at Shopper Smart Living invites visitors to experience the simplicity, comfort and convenience of a connected home firsthand – being able to control the latest smart home appliances with just an internet connection and a mobile device. Designed to look like a high-tech dream home, the ...

Ritika Sharma / Emirates Business Selected from over 40 developers, UAE-based El Techie, a team of five young app developers aged between 15 to 17 years, grabbed the grand-prize at the 2nd Live Hackathon series held at the inaugural Future Technology Week. As part of the prize, the team will receive a three-month internship at Pacific Controls Middle East and ...

Bloomberg Saudi Arabian Oil Co. is pressing ahead with an expansion of the Khurais oil field despite lower crude prices and plans to double its production of natural gas over the next 10 years, the company’s chief executive officer said. The world’s biggest oil exporter, known as Saudi Aramco, won’t cancel any oil, gas or refining projects, Amin Nasser told ...

DUBAI / WAM DP World generated a cash flow of AED 5.3 billion ($1.43 billion) as on December 31, 2015, in spite of the global economic slowdown and world trade slump. The strong cash generation is due to the Group’s ambitious expansion plan and growth of its portfolio of global terminals and business volumes, particularly in Mumbai in India and ...