May, 2018

• 29 May

  UAE’s success shaped by Sheikh Zayed’s humanitarian vision

  Sharjah / WAM Even though Sheikh Zayed bin Sultan Al Nahyan has departed, his legacy lives on in the successful model of tolerance, progress and humanity that is the UAE today, as it continues to be guided by his vision and noble principles, asserted eminent community leaders who have had a ringside view of history. They were speaking at the ...

  Read More »
• 29 May

  DEWA signs MoU with 3 start-ups

  

  Dubai / WAM Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA) witnessed the signing of Memorandums of Understanding (MoU) with three start-ups to work with them in the 4th Dubai Future Accelerators Programme. The Programme is organised by the Dubai Future Foundation, with the theme ‘One Team Co-Creating the Future.’ It aims to strengthen ...

  Read More »
• 29 May

  ‘Fall of Al Duraihami will pave the way to secure Bab Al Mandeb strait’

  Aden / WAM The fall of the Al Duraihami district of Hodeidah to the Yemeni National Resistance Forces is a turning point of the Saudi-led Arab Coalition military campaign, launched in 2015 to defeat the Houthis and restore Yemen’s government. The recent victory, in which the UAE Armed Forces participated, and backed the Yemeni Resistance, has brought the Coalition closer ...

  Read More »
• 29 May

  ERC to build, restore school classrooms in Tuban, Yemen

  Lahej / WAM The Emirates Red Crescent (ERC), launched a project to construct three classrooms at the Sheikh Zayed bin Sultan Al Nahyan School in Amjerbaa in Tuban District, Lahej Governorate, as well as to restore the Rajih Azab School in Sabr, as part of its activities for the Year of Zayed. The project launch was attended by Major General ...

  Read More »
• 29 May

  UAE emerges as hotspot for destination weddings

  

  Dubai / Emirates Business The destination wedding industry in the Middle East continues to register steady growth and is presently worth around $4.5 billion, with the UAE emerging as the top destination for weddings in the region. These are among the findings of a survey conducted by Dubai-based event organizer QnA International at the 5th annual Destination Wedding Planners (DWP) ...

  Read More »
• 29 May

  Africa’s hidden oil hub grows after traders gain

  

  Bloomberg For oil traders, there’s no place quite like Saldanha Bay. When prices slumped in 2014, trading houses generated outsize profits by storing millions of barrels of crude in the deep-water harbor north of Cape Town. Now storage facilities at the port — where South Africa built vast concrete bunkers in the 1970s that helped insulate the apartheid regime from ...

  Read More »
• 29 May

  Exxon CEO’s solution to slumping shares: drill big, drill better

  Bloomberg Darren Woods is mounting a strong defense of his plan to rescue Exxon Mobil Corp. from its share-price slump with a multibillion dollar investment spree that’s at odds with the belt-tightening undertaken by rivals. Far from preaching spending caps or showering investors with cash, Woods’ solution, outlined in an interview, is to invest heavily in mega-projects that he says ...

  Read More »
• 29 May

  Asia offshore wind lures Japan trading houses

  

  Bloomberg Untapped offshore wind is luring Japan’s biggest commodity houses to invest in projects in Taiwan and at home, buoyed by favorable government policies that support development of the clean power. Mitsui & Co. this month bought a stake in the Taiwanese wind developer Yushan Energy Co. that gives the Tokyo-based company a 20 percent stake in a 300-megawatt offshore ...

  Read More »
• 29 May

  US power payout sends surprise boost to coal, N-plants

  

  Bloomberg Embattled coal and nuclear power-plant operators stand to get a lot more money to provide capacity to the biggest US electricity grid — if they can hold on for another three years. Generators are going to make $140 a megawatt-day for the year starting in June 2021, 83 percent more than the prior year, according to the results of ...

  Read More »
• 29 May

  Alibaba unit’s mystery jump in focus after $1.4 bn deal

  

  Bloomberg For the past few days, the question has been popping up on trading desks across Hong Kong: What’s up with Alibaba’s health unit? Largely ignored by analysts and stuck in a tight trading range for more than a year, the stock on May 17 suddenly turned into one of the world’s best performers for no apparent reason. It surged ...

  Read More »