May, 2017

• 23 May

  Curtains down on 4th ‘Arab Luxury World’

  

  Dubai / Emirates Business The fourth edition of Arab Luxury World, the Middle East’s leading luxury business conference, has drawn to a successful conclusion at The Westin Dubai, where regional and global professionals from the premium goods and services markets gathered to explore ‘Digital Disruption and Emotional Engagement’. The two-day conference was organised by Mediaquest – one of the leading ...

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• 23 May

  ADEC, ADGM, INSEAD join hands to boost financial knowledge

  

  Abu Dhabi / Emirates Business The Abu Dhabi Education Council (ADEC), Abu Dhabi Global Market (ADGM), and INSEAD sign a Memorandum of Understanding (MoU) in support of building up financial services knowledge and competence in Abu Dhabi. The MoU was signed by HE Dr Ali Al Nuaimi, Director General of ADEC, HEAhmed Al Sayegh, Chairman of ADGM and Prof Miguel ...

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• 23 May

  Suqia to provide drinking water to over 90,000 people in Somalia

  

  Dubai / WAM The UAE Water Aid Foundation (Suqia), under the umbrella of the Mohammed bin Rashid Al Maktoum Global Initiatives, has implemented two projects to provide drinking water to over 90,000 people in Somalia. Suqia has implemented these projects in cooperation with the Mohammed bin Rashid Al Maktoum Charity and Humanitarian Establishment. This is one of Suqia’s humanitarian projects ...

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• 23 May

  Dubai to get 120 new schools over next 10 years: KHDA

  Dubai / WAM Dubai will continue to add more schools as new data released by Knowledge and Human Development Authority (KHDA), signaled strong growth in the private education sector. Private schools in Dubai reported an average annual enrollment growth of 6.6 percent over the last decade with 120 new schools expected to open over the next 10 years, the educational ...

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• 23 May

  TDIC releases endangered turtles at Saadiyat Beach

  

  Abu Dhabi / WAM Tourism Development and Investment Company (TDIC), the master developer of tourism, cultural and residential destinations in Abu Dhabi, has released a dozen rehabilit- ated Hawksbill turtles back to the sea to mark World Turtle Day, which is marked on May 23. The released turtles were rehabilitated at a special centre on Sir Bani Yas Island. The ...

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• 23 May

  OPEC on verge of 9-month cuts extension after Iraq gives backing

  

  Bloomberg OPEC and its allies were poised to continue their production cuts for another nine months after Iraq backed an extension, removing one of the last remaining obstacles to an agreement. The proposal is the latest attempt by oil producers from Saudi Arabia to Russia to prop up prices and revive their economies. The talks are closely followed elsewhere as ...

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• 23 May

  Oil halts advance after four-day gain

  Bloomberg Oil halted its advance after a four-day gain before OPEC meets on Thursday to decide on whether to prolong output cuts by the group and its partners. July futures dropped as much as 1 percent in New York after front-month prices on Monday capped a 4.3 percent increase over four sessions. Iraq backed a proposal to extend production curbs ...

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• 23 May

  US plan to sell crude reserves undermines OPEC efforts

  

  SINGAPORE / Reuters US President Donald Trump’s proposal to sell half of the United States’ strategic oil reserve surprised energy markets on Tuesday since it counters OPEC’s efforts to control supply in order to boost prices. The White House requested in its budget released late on Monday gradually selling off the nation’s Strategic Petroleum Reserve (SPR) starting in October 2018 ...

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• 23 May

  Russia beats Saudi as top oil supplier to China

  BEIJING / Reuters Russia has kept its top spot as oil supplier to China, beating Saudi Arabia for the second month in row, as independent refiners scooped up more volumes before their first batch of quotas expire. Saudi Arabia and Russia, both vying for more market share in China, have said they support an oil cut extension until March 2018 ...

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• 23 May

  New tax reform to draw Indian businesses into digital economy

  

  Bloomberg India’s biggest tax reform in history is also set to make its small-to-medium businesses more transparent. On July 1, as India rolls out its landmark national sales tax, businesses that make less than 100 million rupees — which the government refers to as micro, small and medium enterprises — will all have to digitize. The firms, often accused of ...

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