Sharjah / WAM Arada has awarded a major contract to build East Village, the second phase of Sharjah’s AED24 billion mixed-use district, Aljada. “Located in the heart of Aljada, the East Village community is targeted at the younger generation and comprises a series of apartment blocks that are characterised by fresh and bold designs. Featuring just under 2,000 units in ...

HADRAMAUT / WAM The UAE has launched its 5th annual Adahi project (Eid sacrifices) in Yemen, which saw meat being distributed to thousands of underprivileged families around the country. Sheep from local markets were arranged for slaughter and distribution by the Emirates Red Crescent in the governorates of Hadramaut, Shabwa, Hodeidah and Taiz. Beneficiaries — which included widows and orphans ...

Dubai / Emirates Business The DIFC Academy and LexisNexis MENA are strengthening their strategic partnership with two new initiatives: “The Annual Technology Adoption Index” and “The Legal Tech Glossary.” These projects follow five years of fruitful collaboration, including the publication of the official DIFC Law Commentaries and Law Reports book collections. Through a joint training programme, the DIFC Academy and ...

Dubai / WAM The Dubai Real Estate Institute (DREI) in Dubai Land Department (DLD) is organising the first virtual real estate conference titled ‘Real Estate post-Covid-19 – Challenges and Solutions,’ in cooperation with a number of entities in Saudi Arabia. The conference, which will be held on August 23-24, will witness the participation of a group of real estate speakers ...

Bloomberg Chinese officials are considering a proposal to sell bonds to pay renewable energy subsidies owed to developers, according to people familiar with the matter. Officials have reached out to renewable industry representatives for input on the plan, said the people, who asked not to be identified because the information isn’t public. State Grid Corp of China could be the ...

Bloomberg US oil giant Chevron Corp posted its worst quarterly loss in at least three decades and warned that the global pandemic wreaking havoc upon energy markets may continue to drag on earnings. Chevron fully erased the value of its Venezuela operations from its books, amounting to $2.6 billion, after they were effectively frozen by US sanctions, and wrote down ...

Bloomberg The liquefied natural gas market contracted a third month in July as countries continue to struggle with the economic fallout from the coronavirus pandemic. Global exports of the fuel last month dropped 9.4% from the previous year, the steepest year-over-year decline since at least December 2017, according to ship-tracking data compiled by Bloomberg. The biggest cuts came from the ...

Bloomberg Exxon Mobil Corp is ripping up its debt-fuelled, $30 billion-a-year plan to rebuild an aging worldwide portfolio after cash flow evaporated and threatened the company’s vaunted dividend. The shift by the Western world’s premier oil explorer represents an about-face after more than two years of doing pretty much the opposite of the its biggest rivals, who have been shrinking ...

When Margaret Fuller, one of 19th century America’s public intellectuals, grandly proclaimed, “I accept the universe,” Thomas Carlyle, the British historian, reportedly said, “By gad, she’d better.” In 21st-century America, people worry about whether President Donald Trump will “accept” defeat in the election. He’d better. Dignified comportment is not his strong suit, but surely he cannot equably contemplate being frogmarched ...

Intellectual property (IP) is a convenient fiction. It is a right enforced by state power and international agreements, one that’s even more fragile than other forms of property rights since it’s not tangible. We choose to believe this fiction because we also believe that intellectual property adds to general welfare. It permits innovation and growth, and supports writers, artists, inventors ...