Dubai / WAM Mattar Al Tayer, Director General and Chairman of the Board of Executive Directors of Roads and Transport Authority (RTA), has announced the launch of a host of smart initiatives and services as part of RTA’s participation at Gitex 2018. The event will witness the test run of the first ‘Autonomous taxi’ in the region, and the Customers ...

Dubai / WAM The Dubai Business Women Council (DBWC), announced that its total membership had increased by 36.5 percent during the first three quarters of the year. The council added 216 new members during this period, 50 of whom joined during the third quarter of 2018. The new members bring the total number to 807, from 591 at the start of ...

Abu Dhabi / WAM Professional Communication Corporation (Nedaa), the Dubai Government security networks provider, is all set for this year’s edition of GITEX Technology Week, the much-anticipated annual event in Dubai that will kick-off on October 14 and conclude on October 18, at the Dubai World Trade Centre. Nedaa will be hosting its major partners, Airbus, Nokia and Esharah Etisalat ...

Abu Dhabi / WAM In line with its efforts to revolutionise its services and enhance investor experience, Abu Dhabi Securities Exchange (ADX), the region’s leading financial market, launched its new integrated digital platform, “Sahmi” which provides digital services for individual investors. The platform was launched during the GITEX Technology Week 2018, in which ADX has a presence at the Abu ...

Bloomberg The International Energy Agency (IEA) cut forecasts for oil demand this year and next because of growing threats to global economic growth, yet warned that dwindling spare oil supplies will keep prices high. Reduced growth estimates from the International Monetary Fund (IMF), trade disputes and the strain of high oil prices all fed into the downgrade to consumption, the ...

Bloomberg India is seeking $1.5 billion of investments from global oil producers and traders to build additional emergency crude reserves that will act as a buffer against volatility in oil prices. The plan is to build underground caverns that can hold a combined 6.5 million tons of crude at two locations, Indian Strategic Petroleum Reserves Ltd. Chief Executive Officer H.P.S. ...

Bloomberg Electric vehicles (EV) may be commonplace sooner than most people think, and that could signal a bonanza for Chilean lithium producer Soc. Quimica y Minera de Chile SA. Larrain Vial, Chile’s largest brokerage firm, sees global EV penetration at almost 21 percent by 2025, well above the market consensus of 8 percent to 20 percent, Alexander Varschavsky, a senior ...

Bloomberg Cracking down on fossil fuels could actually boost profits for the world’s biggest oil companies, though the industry must shift toward cleaner fuels or be left behind by investors, according to Goldman Sachs Group Inc. Major producers including Exxon Mobil Corp., BP Plc and Royal Dutch Shell Plc can slash carbon emissions and still see “materially higher” returns on ...

Bloomberg China’s exports rebounded, while imports remained robust, thanks to strong demand at home and abroad despite worsening relations with the US Exports in dollar terms rose 14.5 percent in September compared to the same period last year, the customs administration said, higher than the forecast of 8.2 percent. Imports climbed 14.3 percent, leaving a trade surplus of $32 billion. ...

Bloomberg China won’t use its currency as a tool to deal with trade conflicts, central bank Governor Yi Gang said, as a tariff war between the US and the world’s No. 2 economy intensifies. “China will continue to let the market play a decisive role in the formation of the RMB exchange rate,” Yi said in a statement to the ...