April, 2016

• 2 April

  Treasuries rally intact as global woes outweigh US job gains

  

  Bloomberg Benchmark Treasuries logged their best week since January even as data pointed to U.S. job-market strength. The rally shows traders are betting the Federal Reserve is focusing more on the struggling global economy than on data back home, according to Aaron Kohli of BMO Capital Markets. Treasuries are off to their best annual start since 2008 as slowing economies ...

  Read More »
• 2 April

  Petrobras offers voluntary dismissal plan to save billions

  

  Bloomberg Brazil’s state-controlled oil company is offering employees a voluntary dismissal plan as part of an effort to deepen spending cuts to withstand the worst oil market in a generation. Petrobras expects 12,000 employees to quit under the program at a cost of 4.4 billion reais ($1.2 billion), it said in a statement. The staff reductions will save the company ...

  Read More »
• 2 April

  Argentina said to revise nuclear pact with China to favour USA

  

  Bloomberg The Argentine government is asking China to revise a nuclear reactor accord signed by the previous administration as it seeks uranium providers from the U.S. ahead of resuming output, two people with knowledge of the situation said. China is open to amending dam and nuclear energy contracts that it signed with the previous Argentine government administration, La Nacion reported. ...

  Read More »
• 2 April

  Mexico seeks to cut 2017 budget to meet zero deficit target

  

  Bloomberg Mexico plans to cut spending next year in order to meet its zero deficit target as manufacturing exports slowed and lower oil prices weighed on revenue. After slashing 2016 spending by 132 billion pesos ($7.6 billion), Mexico estimates a 175 billion-peso reduction in outlays next year compared to this year’s budget, the Finance Ministry said in a report to ...

  Read More »
• 2 April

  Venezuela to cut energy output if key dam falls to critical low

  

  Caracas / Reuters Venezuela will reduce power generation if the key Guri dam, which supplies around half of the blackout-hit country’s electricity, falls below a minimum level that is fast approaching, an official said. A severe drought, coupled with what critics say is a lack of investment and maintenance in energy infrastructure, has hit the South American nation which depends ...

  Read More »
• 2 April

  Masdar City’s innovative approach drives growth

  

  Abu Dhabi / WAM Masdar City in Abu Dhabi, one of the world’s most sustainable urban developments, will undergo significant expansion over the next five years driven by its emergence as a hub for R&D and the commercialisation of clean technologies. “Around 35 percent of the planned built-up area will be completed over the next five years — up from ...

  Read More »
• 2 April

  Goody ventures into UAE’s lucrative FMCG sector

  

  Sunaina Rana / Emirates Business The United Arab Emirates is one of the largest consumers of international and domestic brands across the region. The country is also considered a safe haven within the Middle East, with well-developed infrastructure and a tax-free environment. Gauging the immense scope in the industry, Saudi Arabia’s leading packaging company Goody is all set to collaborate ...

  Read More »
• 2 April

  Tadweer spreads social awareness among new homeowners

  

  Abu Dhabi / WAM Tadweer, the Center of Waste Management, Abu Dhabi, implemented a social awareness initiative for citizens who were granted new residential units as per the President’s recent decree. Tadweer representatives were present at the Abu Dhabi Municipality during the handing over of keys to the new owners in order to educate them on maintaining proper cleanliness, public ...

  Read More »
• 2 April

  Smartworld digitally transforms its headquarters with Cisco tech

  Dubai / Emirates Business Cisco announced that Smartworld, an Etisalat and Dubai South joint venture company, has deployed the Cisco Digital Ceiling framework to create a smart, highly secure and connected indoor space at its new headquarters in Dubai South. The implementation brings together Cisco’s secure IT network with an advanced LED connected lighting system from Philips Lighting to enable ...

  Read More »
• 2 April

  Tejar Dubai launches projects for Emirati entrepreneurs

  

  Dubai / Emirates Business As part of its efforts to support creative and commercially-minded youth and to help them turn their business ideas into reality, the Dubai Chamber of Commerce and Industry initiative, Tejar Dubai entrepreneurship development programme, launched three commercial projects. These include ‘Video Tube’, offering services in marketing and digital media; Redjani‘E-Shop’ for trading online; and ‘Etihad OS’, ...

  Read More »