News

Bloomberg After almost two years of sinking oil prices and at least 40,000 job cuts, Canada’s petroleum industry still isn’t finished tackling its bloated operations. The next round of layoffs has already begun with Cenovus Energy Inc. and Murphy Oil Corp. announcing workforce reductions last week. Ongoing cuts by Suncor Energy Inc., Encana Corp. and others will likely result in ...

AFP Despite slashing oil imports, Canada’s trade deficit with the world widened to Can$1.9 billion (US$1.5 billion) in February, according to the government statistics agency. The figure is up from Can$628 million (US$476 million) the previous month, and about one billion dollars more than the street expected. Exports fell 5.4 percent from a record high in January to Can$43.7 billion ...

Bloomberg US international trade grew in February after a steady fall since 2014, but still remained lower than year-ago levels, the Commerce Department reported on Tuesday. Exports and imports were both higher after sinking to nearly five-year lows in January, a mark of the overall slowdown in global trade as well as the plunge in commodity prices. Exports rose by ...

Brussels / AFP An enormous and complex logistical operation involving thousands of EU and other officials was launched on Monday to ship migrants from Greece back to Turkey under a controversial accord between Brussels and Ankara. The European Commission estimates it will cost 280 million euros ($320 million) to implement the deal over the next six months. The EU will ...

RITIKA SHARMA / EMIRATES BUSINESS Abu Dhabi-based International Renewable Energy Agency (IRENA) marked half a decade of efforts towards a sustainable and green planet on Monday. Turning five, the global body looks forward to expanding its role as the universal voice of renewables. Adnan Z Amin, IRENA Director-General, said, “The past five years have witnessed a dramatic shift in the ...

ABU DHABI / WAM Emirates Global Aluminium (EGA) implemented advanced technologies to improve productivity and enhance operational procedures at its operations, while maintaining the highest standards of environmental conservation. As part of its mandate to drive an ongoing quest for innovation-based improvements, the dedicated Technology Development and Transfer department at EGA continuously forges ahead in identifying and implementing technological advancements ...

DUBAI / WAM Emirates and Malaysia Airlines on Monday unveiled new routes and frequent flyer benefits as part of their codeshare agreement to provide customers seamless connections and world class travel experiences, across the globe. The new routes cover 15 key Malaysian cities: Langkawi, Penang, Johor Bahru, Kuching, Miri, Bintulu, Sibu, Kota Kinabalu, Sandakan, Tawau, Labuan, Alor Setar, Kota Bharu, ...

DUBAI / WAM The 6th edition of the Global Dubai Tea Forum, hosted by Dubai Multi Commodities Centre (DMCC), will take place from April 5-7. The forum is expected to draw more than 300 delegates from over 30 tea producing and consuming countries, bringing together producers, merchant exporters, buyers, blenders, machine manufacturers, raw material suppliers and government entities to discuss ...

DUBAI / WAM Dubai Electricity and Water Authority (DEWA) will send some of their employees on a special expedition to the Amazon Rainforest in Peru in May 2016, as part of its ongoing efforts to achieve its vision to become a sustainable innovative world-class utility, and raise awareness about environmental issues, especially conserving natural resources and reducing carbon emissions. The ...

SUNAINA RANA Emirates Business Considering the expansion of e-commerce in the UAE and need of constant vigilance, Department of Economic Development (DED) signed a deal with Souq.com to protect customer rights. The pact, was signed between Mohammad Lootah, CEO of Commercial Compliance and Consumer Protection (CCCP) sector in DED, and Ronaldo Mouchawar, CEO of souq.com. The two firms will use ...