KUWAIT / WAM The oil maritime transport sector needs to be further developed through increased international collaboration and a unified legislative system, the Organisation of Arab Petroleum Exporting Countries (OAPEC) said on Tuesday. In its monthly report obtained by the Kuwait News Agency (KUNA), OAPEC noted that further cooperation between Arab nations is needed to stave off challenges and …

  DUBAI / WAM The Dubai Chamber of Commerce and Industry (DCCI) in partnership with global e-commerce platform for SMEs, Alibaba, recently conducted two workshops to emphasise the importance of business-to-business (B2B) e-commerce and to elaborate on Chamber’s role in facilitating e-commerce activities in the MENA region.

  DUBAI / WAM Dubai Customs and the UAE Sailing and Rowing Federation, UAE SARF, sealed a partnership deal setting Dubai Customs as Host Sponsor of the much-anticipated Silver Anniversary Dubai to Muscat Yacht Race, 2016. The agreement was signed by Sheikh Khaled Zayed Saqr Al Nahyan, Chairman of the Federation, and Ahmed Obaid Al Falasi, Executive Director of HR, …

  ABU DHABI / Reuters IBM on Tuesday signed a $300 million, ten-year technology services agreement with Dubai’s Emirates Airline. IBM will provide information technology services, allowing the airline to improve efficiency on its passenger support systems and functions, a statement from IBM said. Under the managed services agreement, this will include assistance in encrypting the airline’s data in near …

DUBAI / Reuters Dubai’s DP World won a 50-year concession to develop Posorja port project in Ecuador that will require initial investment of $500 million, the ports operator said in a bourse statement on Tuesday. The initial investment “will include the purchase of land, dredging of a new access channel, a 20 km access road and a 400 metre berth …

  ALKESH SHARMA / Emirates Business UAE’s commercial fit-out sector — which is the leading the market in the entire GCC region — is bombarded with bespoke designs that meet the discerning requirements of millennial generation. New trends have marked an end to the cubical structures donning the office corridors, and open spaces that allow free access of ideas, communications …

  Dubai / Emirates Business Mohammed Bin Rashid Al Maktoum Foundation (MBRF) – a member of the Mohammed Bin Rashid Al Maktoum Global Initiatives – concluded the activities of the second Nobel Museum Exhibition, which was organised over nearly three months from February 21 to May 30 at Children’s City in Dubai Creek Park under the theme, ‘Exploring life: the …

  SUNAINA RANA / Emirates Business Automotive companies are gearing up to sweep you off your feet this Holy month. Firms have come up with some of the most attractive offers as the season usually accounts for the highest percentage of sales throughout the year. Hussam Baghdadi, Sales General Manager at Infiniti of Arabian Automobiles Infiniti told Emirates Business, “The …

  BLOOMBERG Stocks rallied with emerging markets as investors added to bets that U.S. interest rates will stay lower for longer, keeping growth on track. The MSCI All Country World Index headed for its strongest close since April after Federal Reserve Chair Janet Yellen on Monday signalled that officials won’t derail the economy with a premature rate hike. Emerging-market stocks …

  Bloomberg Corn futures surged into a bull market as production concerns in the U.S. and Brazil, the world’s biggest exporters, sparked optimism that the global grain glut will ease. Dry conditions have beleaguered Brazil’s crops so much that the nation’s chicken processors have been forced to reduce production as domestic consumers compete with foreign buyers for grain supplies. Now, …