ABU DHABI / Emirates Business Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, welcomed a high-level delegation from Albania at its headquarters. Headed by His Excellency Erion Veliaj, Mayor of Tirana, the delegation met with His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD and explored potential areas of cooperation. His Excellency Ermal Dredha, ...

DUBAI / Emirates Business Dubai Wholesale City (DWSC) has signed an agreement with LuLu Group International, the top retailer in the Middle East, to set up a AED300 million Central Logistics Hub at the region’s largest fully integrated wholesale hub. Spanning an area of 1.3 million square feet, the central logistics hub is estimated to take shape within 30 months ...

Sharjah / WAM The Sharjah Airport Authority (SAA), obtained ISO10002: 2014 for Customer Satisfaction, relating to the charter of customer service and complaint management system. This achievement reflects SAA’s keenness to raise the level of its customer’s satisfaction by dealing with their complaints as soon as possible. The ISO certificate was given to Sharjah Airport Authority’s Medical Centre, after completing ...

Dubai / Emirates Business The Dubai Chamber of Commerce and Industry hosted a workshop at its premises which provided Chamber members and businesses in Dubai with hands-on training in Google Analytics to boost website performance and improve return on investment of marketing campaigns. The training covered the basics of intelligent data collection and analysis, and educated companies on how to ...

Bloomberg US stocks turned higher and Treasuries trimmed gains as investors speculated that President Donald Trump’s tough tariff talk won’t translate into the most severe protectionist policies. S&P 500 cut an early slide by three-quarters after hedge fund billionaire Ray Dalio called Trump’s threat of a trade war “political show.” Treasuries held gains on a haven bid, while the greenback ...

Bloomberg The angst about rising trade tensions that’s hit equity markets may presage a prolonged conflict, considering that when it comes to China, the Trump administration may have greater ambitions than just a more advantageous commercial arrangement. While Chinese officials have pressed for a list of specific demands as President Donald Trump prepares to execute measures including tariffs, there may ...

Bloomberg The US will dominate global oil markets for years to come, satisfying 80 percent of global demand growth to 2020 as the shale boom keeps OPEC under pressure, the International Energy Agency said. “The US is set to put its stamp on global oil markets for the next five years,” IEA Executive Director Fatih Birol said in a report ...

CAIRO / Reuters Saudi Arabia and Egypt set up a $10 billion joint fund to develop a planned mega-city, committing more than 1,000 square kilometres in the south Sinai, as Crown Prince Mohammed bin Salman met President Abdel Fattah al-Sisi in Cairo. The deal came at the start of Crown Prince Mohammed’s first public trip abroad since becoming heir apparent ...

DUBAI / Reuters Saudi Arabia’s ACWA Power has selected JPMorgan, Citigroup to arrange the initial public offering of its shares, which could raise up to $1 billion, sources said. The two international banks have been selected as global coordinators and a third international bank is close to being chosen, one of the sources told Reuters. ACWA Power, a developer of ...

Bloomberg Toyota Motor Corp. plans to spend $2.8 billion to make sure its system for writing the software for self-driving cars will be just as efficient as the factories that build them. The company needs faster and more reliable methods for writing software because self-driving cars require “millions and millions’’ of lines of computer code, according to James Kuffner, who’ll ...