Zürich / Emirates Business­­­­­ dnata, one of the world’s largest air services providers, has been awarded the Good Distribution Practice (GDP) certification for the pharmaceutical handling services at the company’s state-of-the-art facility in Zürich. GDP is a program focussed on systems for warehouses and distribution centers that store and distribute products that are medicinal or carry active pharmaceutical ingredients. Setting …

Bloomberg Some Nigerian airlines are facing the risk of collapse under the weight of huge debts, according to the country’s Asset Management Corporation of Nigeria, set up to rescue banks from bad loans. “The industry remains in the throes of airlines burdened with debts, under administration or on the borderline of collapse,” Amcon chief executive Ahmed Kuru said at a …

DUBAI / WAM Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, stressed that data sector will significantly contribute to the future of the UAE economy, as the reliance on Artificial Intelligence (AI) technology incre-ases, becoming a base for many vital activities of future societies. Promoting investment in this rapidly evolving global economic sector comes as part of …

Abu Dhabi / Emirates Business With Expo 2020 on the horizon and the Middle East representing high growth potential for the travel industry, WTM London 2018 which takes place on November 5-7 and is placing a spotlight on the region with a host of key speakers lined up for the show’s new regionally-focussed Inspiration Zones. As Dubai gears up for …

DUBAI / WAM Policymakers, industry hea-vyweights, economists, pro-minent CEOs and business leaders from the world will share insights and predictions on key trends that are expected to reshape future of the global Islamic economy when they gather in Dubai for 4th Global Islamic Economy Summit (GIES 2018). Dubai Chamber and the Dubai Islamic Economy Development Centre (DIEDC) will organise high-level …

Bloomberg Aramco and Total SA signed an engineering and design contract for a $9 billion petrochemical complex in Saudi Arabia that will convert fossil fuels into building blocks for plastics. The Amiral complex will be able to produce 2.7 million tonnes of chemicals annually, according to Amin Nasser, state-run Saudi Aramco’s chief executive officer. The project will be completed by …

Bloomberg The world must invest $2.4 trillion in clean energy every year through 2035 and cut the use of coal-fired power to almost nothing by 2050 to avoid catastrophic damage from climate change, according to scientists convened by the United Nations. Their report published on Monday adds pressure on policymakers and businesses to step up their response to global warming, …

Bloomberg Hyflux Ltd., the embattled Singapore water-treatment and power company, is in advanced talks with at least two potential investors about taking a strategic equity stake in the group as part of a restructuring plan. The discussions with these investors are taking place concurrently with efforts to sell its desalination plant known as Tuaspring, its legal adviser WongPartnership LLP said …

Bloomberg Macquarie Group Ltd. has agreed to invest in a wind and solar power development in Australia’s Pilbara region, which will provide electricity to mines and mineral processing operations in the region. The Asian Renewable Energy Hub has also increased its planned generation capacity to more than 11 gigawatts, from 9 gigawatts, according to a statement on Monday on the …

Bloomberg The run-up to $100 oil is giving some investors pause.This year’s longest buildup of hedge-fund bets on higher Brent crude prices is faltering, with bulls retreating for the first time in six weeks. After fears of dramatic shortfalls from Iran sent the global benchmark on a tear and triggered speculation that it will reach three digits, the rally is …