Uncategorized

  Washington / Bloomberg A. P. Moeller-Maersk A/S, a Danish conglomerate that owns the world’s largest container shipping company, is voicing concern as a potential shift in U.S. policy threatens to reduce global trade. While Maersk assumes that no matter how the U.S. presidential election ends, it probably “won’t have an effect on the contracts we have and the employment ...

  Abu Dhabi / Emirates Business Abu Dhabi National Exhibitions Company (ADNEC), on Sunday announced the commencement of the second phase of expansion and development of Al Ain Convention Centre (AACC). The Phase II expansion work is in line with ADNEC’s strategy to promote and strengthen the high-potential business tourism industry in Al Ain. Aimed at enabling the exhibition and ...

  Dubai / Emirates Business Global government and technology experts set to speak at GITEX Technology Week have praised Dubai for developing new Smart City benchmarks. Smart Cities use technology to analyse data sent from sensors over Wi-Fi networks to enhance daily lives and governance. Prominent use cases include solving challenges such as traffic congestion and utilities distribution, and launching ...

  Beirut / AFP Syrian and Russian warplanes have launched a wave of air strikes in northern Syria, killing dozens in areas held by a rebel alliance battling to take control of second city Aleppo. The strikes, which began on Saturday and were continuing on Sunday, killed at least 45 civilians in Aleppo and west of the city and 22 ...

  AFP China’s recent economic stabilization faltered in July as factory output, retail sales and investment all slowed. Industrial production rose 6 percent from a year earlier in July, the National Bureau of Statistics said Friday. Retail sales climbed 10.2 percent last month, while fixed-asset investment increased 8.1 percent in the first seven months of the year. All three readings ...

  Bloomberg Indonesia is considering options for setting up tax-haven jurisdictions as it tries to lure back billions of dollars through its amnesty program to fund infrastructure projects and finance the widening budget deficit, Coordinating Maritime Minister Luhut Panjaitan said on Sunday. News of the haven plan follows an announcement by the government on Aug. 11 that it would allow ...

  Bloomberg State Grid Corp. of China reached a deal to gain control of Brazil’s CPFL Energia SA, after two major shareholders agreed to sell the Chinese company their stakes in the $7.3 billion utility, people with knowledge of the matter said. Bonaire Participacoes and Banco do Brasil SA’s pension fund, known as Previ, have given informal approval to sell ...

  Bloomberg South Korea’s economy will expand 2.7 percent this year and 3 percent next year, the International Monetary Fund said in a statement, which also welcomed recent fiscal and monetary stimulus in Asia’s fourth-largest economy. The nation has “considerable fiscal space” to manage challenges to growth such as an aging society and high household debt, the fund’s directors said ...

  DUBAI / Emirates Business His Excellency Dr. Thani Al Zeyoudi, Minister of Climate Change and Environment called on the UAE youth to engage and be part of the country’s global efforts in protecting the environment, achieving sustainable development and combating climate change. The statement came in His Excellency’s opening remarks at the Youth Circle held at the Mleiha Archeological ...

  Beirut / AFP The IS group has freed hundreds of civilians used by the extremists as human shields while retreating in northern Syria, US-backed forces and a monitor said on Saturday. A source from the Syrian Democratic Forces (SDF), which pushed IS out of the city of Manbij this week with the aid of US-led air strikes, said that ...