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DUBAI / WAM Dubai Electricity and Water Authority (Dewa) has initiated a collaboration with the British Standards Institute (BSI) to set the world’s first Publicly Available Specification (PAS) standard that would document best utility risk management practices for the electricity and water sector. This move comes as part of Dewa’s efforts to consolidate its global positioning and achieve its vision ...

Bloomberg Donald Trump’s surprise about-face on his top diplomat’s trip to North Korea—just a day after it was announced—reinforced a sense of drift in the administration’s strategy since the president proclaimed a June summit with Kim Jong-un an historic success. The tweets cancelling a visit to Pyongyang by Secretary of State Michael Pompeo cited a lack of “sufficient progress” in ...

Bloomberg From Mercedes-Benz AG to Unilever, companies in India are finding power to pass on higher costs to consumers, a sign that demand in the world’s fastest-growing major economy is well-entrenched. After the twin shocks of a cash ban in 2016 and the chaotic introduction of a consumption tax last year, India’s economic recovery is gaining momentum. Businesses are taking ...

Bloomberg Walmart Inc. has asked its cosmetics suppliers to consider sourcing their goods in countries outside of China, one of the first signs that the world’s largest retailer hopes to dilute the impact of the Trump administration’s looming tariffs. A “large amount” of items in the cosmetics category fall under the most-recent proposed levies on Chinese goods, according to an ...

Bloomberg Elon Musk scrapped his plan to take Tesla Inc. private, a remarkable reversal more than two weeks after blindsiding employees and investors with the idea in a bombshell tweet. In a blog post, Tesla’s chairman, CEO and largest shareholder said he had met with the board and “let them know that I believe the better path is for Tesla ...

Bloomberg The head of the World Trade Organization (WTO) said the UK risks trade disruption in the event of a no-deal Brexit because it is “very unlikely” to have agreed tariffs and quotas with the other WTO members in time. “The moment that other countries begin to sense an opportunity to increase their market share or increase a quota here ...

Bloomberg Home-rental providers Airbnb Inc. and HomeAway are suing New York City over a recently passed law that allows the collection of data on the websites’ hosts, claiming the ordinance violates users’ constitutional rights. Airbnb is hoping to avoid millions in losses when the law, designed to police short-term home rentals, takes effect this winter. The New York City legislation, ...

ABU DHABI / WAM The Khalifa Fund for Enterprise Development has issued a final call for applications for the fourth edition of “Ibtikari” (My Innovation), an intensive six-month incubator aimed at helping Emiratis advance their technology start-ups. The deadline to apply is August 31. This year’s updated version of “Ibtikari” is a result of a new partnership between the Khalifa ...

DUBAI / WAM Mariam Hareb Almheiri, Minister of State for Food Security, concluded her trip to Queensland and New South Wales, Australia, by meeting with high-level federal government officials and visiting innovative private sector food production facilities to discuss important issues relating to future food security. Alongside, Dr Obaid Al Hayeri Salem Al Katbi, UAE Ambassador to Australia, and representatives ...

Bloomberg As the European Union tries to resolve differences over Kosovo and welcome new members from the former Yugoslavia, one hopeful may have a tougher issue to overcome. Serbia, the largest of the six Balkan countries the bloc says could join from 2025, is being forced to choose between the benefits of the world’s No. 1 trading alliance and loyalty ...