May, 2018

• 15 May

  Apicorp: UAE leads region in renewable energy sector

  

  DAMMAM / WAM The UAE has done impressive work to stay on track with the renewable energy targets and with phases 3 and 4 of the Dubai Solar Park to begin commissioning by the end of 2020, and is placed at the forefront of renewable energy development in the region, according to a research published by the Arab Petroleum Investments ...

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• 15 May

  ‘Coalition forces presence in Socotra island is in coordination with Yemeni government’

  

  RIYADH / WAM The presence of the joint forces of the Arab Coalition on the island of Socotra is within coordination with the legitimate Yemeni government, and that the coalition welcomes the statement issued by tribes and sheikhs of Saada Governorate, totally rejecting the Iranian-backed Houthi coup, the official spokesman for the Coalition to Support the Legitimacy in Yemen, Colonel ...

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• 15 May

  Ramadan working hours for private sector announced in UAE

  Abu Dhabi / WAM Work timings for all private sector organisations will be shortened by two hours throughout the Holy Month of Ramadan, according to a circular issued by Nasser bin Thani Al Hamli, Minister of Human Resources and Emiratisation, on Tuesday. The circular was based on Article 65 of the Federal Law No. 8 of 1980. The minister expressed ...

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• 15 May

  96.6% of people in UAE feel safe: MoI

  

  DUBAI / WAM The UAE recorded very positive figures and rates in the outcomes of the indicators of the UAE National Agenda pertaining to the works of the Ministry of Interior (MoI), officials said. Speaking in a press conference organised at Dubai Police Officers’ Club, Dhahi Khalfan, Deputy Chairman of Police and General Security in Dubai, stressed that the UAE, ...

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• 15 May

  Emirates offers special Iftar service

  

  Dubai / Emirates Business Emirates will commence its signature Ramadan service for customers during the holy month. Emirates’ Ramadan service consists of specially crafted iftar meals on board, relevant programming on its ice inflight entertainment system, and the distribution of dates and water on the ground for those breaking their fast. Emirates provides iftar boxes with a nutritional meal for ...

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• 15 May

  Europe awakens for LNG to rival China

  

  Bloomberg Europe is starting to steal some of the limelight from China’s booming liquefied natural gas demand as imports pick up after several lackluster years. Europe and China will be comparable in significance as importing regions in the coming years, Cheniere Energy Inc. said, citing data from Wood Mackenzie Ltd. That follows “absolutely phenomenal” growth in China last year, Andrew ...

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• 15 May

  Gas giants swap roles as biggest buyer turns to Australia

  

  Bloomberg The gas market is being flipped upside down. Australia, soon to become the world’s biggest exporter of liquefied natural gas, is now turning to the largest buyer Japan as it seeks to import the fuel to ease a domestic supply crunch. In a scenario played out previously by LNG shippers including Indonesia and Malaysia, Australia is seeking to import ...

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• 15 May

  Ten-year Treasury yield tops 3%, US stocks slide as dollar surges

  

  Bloomberg The 10-year Treasury yield topped 3.05 percent for the first time in four years, stocks slumped from two-month highs and the dollar rallied as speculation grew that signs of a firm American economy won’t derail the Federal Reserve from its rate path. The S&P 500 Index halted a four-day rally, ending a risk-on mood that had propelled equities to ...

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• 15 May

  Coinbase goes after Wall Street with new cryptocurrency tools

  

  Bloomberg Coinbase Inc. became the best-known cryptocurrency exchange in the US by bringing Bitcoin to the masses. Now it’s looking to crack Wall Street. The San Francisco-based company is developing several tools to lure institutional investors onto its platform. They include custodial services where investors can store large amounts of digital currencies, as well as enhanced trading capabilities, such as ...

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• 15 May

  Tata Steel gets tribunal nod for biggest acquisition since Corus

  

  Bloomberg Tata Steel Ltd.’s plan to double its production capacity in five years received a boost after an Indian court gave its final approval for the purchase of the assets of Bhushan Steel Ltd., Tata’s biggest buy since Corus Group Plc. The two-judge tribunal rejected objections to Tata’s bid from Bhushan creditor Larsen & Toubro Ltd. and the steel company’s ...

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