CALIFORNIA / WAM Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA) launched Jumeirah Energy International Silicon Valley Company, JEI Silicon Valley, a wholly-owned investment subsidiary of DEWA, at a ceremony at the Four Seasons Hotel – Silicon Valley, in California, USA. Abdulla Alsaboosi, Consul General of the UAE in Los Angeles, was present. Also ...

ABU DHABI / Emirates Business The Department of Culture and Tourism – Abu Dhabi has awarded to Zublin Construction LLC the AED 500 million contract for the refurbishment and conservation of the Cultural Foundation Building at Qasr Al Hosn, the symbolic birthplace of the capital of the UAE. The Cultural Foundation Building at the site has come to symbolize Abu ...

DUBAI / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, announced the launch of the ‘Hamdan Centre for the Future of Investment’ (HCFI), a global initiative that aims to promote the contribution of foreign direct investment (FDI) to sustainable development. Sheikh Hamdan bin Mohammed stressed that the initiative ...

ABU DHABI / Emirates Business The Higher Organising Committee of the Unmanned Systems Exhibition and Conference (UMEX 2018) and the Simulation and Training Exhibition and Conference (SimTEX 2018), held its first coordination meeting at the Abu Dhabi National Exhibition Centre (ADNEC) to discuss initial preparations and coordinate efforts with various national institutions. Jointly organised by the Abu Dhabi National Exhibitions ...

DUBAI / Emirates Business National Bank of Fujairah (NBF) PJSC, is sponsoring the third edition of the Dubai Diamond Conference in the presence of guest of honor, David Cameron, the UK’s former Prime Minister. The conference will take place at Almas Conference Centre on October 16 and 17 and will have the presence of international leaders of the diamond industry ...

DUBAI / Emirates Business Proving self-funded, small businesses can eventually be big, UAE small- and micro-enterprises and entrepreneurs took the spotlight at the recently concluded Gulf Capital SME Awards. RSA Logistics, a self-funded enterprise co-founded by Abhishek Ajay Shah in 2009, was named Gulf Capital Business of the Year. Through key partnerships and collaborations, RSA Logistics and its affiliate brands ...

LONDON / Reuters Global supply and demand for crude oil will be largely balanced next year, as growth in consumption helps erode a three-year-old overhang of unused fuel and should mostly offset a steep rise in output, the International Energy Agency said. In its monthly oil market report, the Paris-based IEA said it continues to see global demand for crude ...

Bloomberg Oil climbed to the highest level in two weeks as dwindling US crude stockpiles and near-record Chinese imports signaled the worldwide glut is eroding. Futures advanced 1.7 percent in New York, posting the biggest weekly gain in a month. In China, the world’s second-biggest oil market, crude imports in September jumped to the second-highest on record. US oil inventories ...

LONDON / Reuters China has built its crude oil stockpiles at a record pace in 2017 and while its purchases could tail off towards the year-end, inventories could hit the billion-barrel mark in six months, the International Energy Agency said. China has spent around $24 billion on building its crude reserves since 2015, at an average of $50 a barrel, ...

LONDON / Reuters Already record US oil exports are set to surge further in the coming month as stored oil in one of the world’s last areas of excess stockpiles pours into global markets, the chief executive of trading house Mercuria, Marco Dunand, said. The US shale oil revolution upended global energy markets, and in late September the country’s oil ...