January, 2018

• 27 January

  SCA proposes first-of-its-kind carbon emissions trading

  

  ABU DHABI / WAM The Securities and Commodities Authority (SCA) announced an initiative for launching the region’s first-of-its-kind form of trading in emissions that specifically targets carbon dioxide. The initiative reflects the significant growth in passenger and cargo air traffic in the country, with the UAE ports now considered a main destination for a large number of international air carriers, …

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• 27 January

  UAE, Switzerland boost trade ties

  

  DAVOS / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, met Federal Councillor Johann N Schneider-Ammann, the Head of the Swiss Federal Department of Economic Affairs, Education and Research, during the World Economic Forum 2018. The meeting, attended by Hessa Essa Buhumaid, Minister of Community Development, and Mariam Hareb Almheiri, Minister of State for Future Food Security, saw discussions …

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• 27 January

  Porsche sports cars to live on in EV era

  

  Bloomberg Porsche AG will pursue a three-pronged strategy to diversify its lineup as the German manufacturer gears up for the rollout of its first all-electric sports car next year to tackle a fundamental industry shift towards battery-powered vehicles. “There will be a triad: plug-in hybrids, emotional sports cars with combustion engines and sporty electric vehicles,” Chief Executive Officer Oliver Blume …

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• 27 January

  Tencent’s Meituan app to rival WeChat

  

  Bloomberg Meituan is the kind of Chinese technology company few people outside the country understand. That’s because its services aren’t quite like anything you might find abroad. Meituan has a restaurant review feature sort of like Yelp, but its app also lets you order off the menu from your phone the minute you sit down. You can settle your check …

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• 27 January

  ‘Flying cars across US skies within 10 years’

  Bloomberg Flying cars will be zipping across US skies within the coming decade—at least that’s what Uber Technologies’ CEO Dara Khosrowshahi predicts. “There will be people flying around Dallas, Texas,” Khosrowshahi said at the DLD tech conference in Munich. “I think it’s going to happen within the next ten years.” Back down on the ground, the Uber CEO cited congested …

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• 27 January

  Clever apps that help in breaking many of your worst habits

  

  Bloomberg After Erin Hiscock’s mother and brother passed away, she resolved to tackle her own weight problem. “I was maybe 310 pounds at my heaviest and severely addicted to sugar,” she says. “Instead of a normal meal, I’d just eat carbs, sugar, nothing nutritious.” Hiscock, a 35-year insurance agent in Virginia, didn’t turn to diet books, Weight Watchers, or even …

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• 27 January

  Aramco swapping Saudi oil for fuel to tap new markets

  

  Bloomberg Saudi Aramco’s trading unit started swapping the kingdom’s crude oil for products refined in other countries, allowing the company to tap new markets, according to its chief executive officer. The company has supplied crude to refiners in the Mediterranean region and gotten fuel in return, Ibrahim Al-Buainain, chief executive officer of Saudi Aramco Products Trading Co., said by phone. …

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• 27 January

  US: Shale won’t be oil market ‘spoiler’

  

  DAVOS / Reuters US Energy Secretary Rick Perry told oil super-powers Russia and Saudi Arabia he believed US shale oil boom would not become a spoiler for oil markets because new production would be absorbed by fast rising global demand. Perry, a former governor of Texas, the heartland of the US shale oil boom, was speaking at a rare joint …

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• 27 January

  Russia remains China’s top oil supplier

  

  BEIJING / Reuters Russia held firm as China’s top crude oil supplier in December for the 10th month and racked up its second year as the largest supplier in 2017, customs data showed, leaving rival exporter Saudi Arabia in second place on both fronts. Exports from Russia hit 5.03 million tonnes in December, down 0.2 percent from a year earlier, …

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• 27 January

  Weakening dollar helps propel oil to 3-year high

  Bloomberg Oil just got an extra tailwind from a weakening dollar as this month is shaping up to be the best January for black gold in 12 years. That’s because when the greenback is losing value, investors tend to flock to commodities as a store of value, and this is coming on the back of a record streak of declines …

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