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Bloomberg The European Union set new criteria for the use of palm oil in biofuels in a balancing act to avert a trade war with producers in Asia while appeasing climate protagonists at home. The measure approved by the European Commission on Wednesday spells out the type of biofuels from palm oil that may be counted towards the EU’s renewable-energy ...

Abu Dhabi / WAM His HHighness Sheikh Hazza bin Zayed Al Nahyan, Deputy Chairman of the Abu Dhabi Executive Council, praised the wise policy of the Abu Dhabi Government and its keenness to provide the best services, which will make everyone happy and continue the process of sustainable development. Following his inauguration of a new municipal centre in Khalifa City, ...

DUBAI / WAM Dubai SME, the agency of the Department of Economic Development (DED), mandated to develop the small and medium enterprise (SME), sector, supported 4,227 Emirati entrepreneurs with incentives and facilities worth AED101 million ($27.5 million) in 2018. The number of entrepreneurs represents an increase of 32 percent over the previous year and the increase in the value of ...

ABU DHABI / WAM The Abu Dhabi Securities Exchange (ADX), announced the establishment of the ‘Zayed Centre of Excellence for Financial Research’, at the Higher Colleges of Technology – Abu Dhabi Women’s campus. The Centre’s main objectives includes collaborating with HCT on research related to finance including, but not limited to, finance-related data analytics, financial technology services, artificial intelligence, blockchain, ...

Abu Dhabi / WAM As part of the Abu Dhabi Government’s accelerator programme ‘Ghadan 21’, the Department of Culture and Tourism – Abu Dhabi, DCT Abu Dhabi, has announced strategic initiatives to further drive the development of the Emirate’s tourism sector. In line with the Ghadan 21 ambition, to make Abu Dhabi one of the best places in the world ...

Bloomberg Officials from China’s predominately Muslim region of Xinjiang defended mass detention camps as necessary to fight terrorism and vowed to maintain the crackdown for a “long time.” Local security policies had prevented a major terrorist attack in the region for more than two years, Xinjiang government chief Shohrat Zakir told a regional delegation meeting in Beijing on Tuesday. Even ...

Bloomberg China’s multi-year campaign to contain financial risk is re-focusing on the so-called “hidden debt” owed by local governments, as officials seek to reduce repayment pressures amid falling tax revenues. Provinces and cities from Jiangsu in the east to Qinghai in the west are looking for means to pay-off or restructure their implicit borrowings, a term which includes off-book funding ...

Bloomberg The catastrophic slump of Singapore’s much-vaunted water and power company, Hyflux Ltd., has stunned 34,000 retail investors who were lured by the promise of a 6 percent annual return forever from a company that seemed to have a gold seal of government approval. At the heart of the debacle is Tuaspring, a desalination and power plant that cost S$1.1 ...

Bloomberg European debt markets have suddenly become more appealing to some big American corporations again, spurred in part by monetary policy changes. Several American household names have recently crossed the pond to issue debt in Europe. Companies such as Altria Group Inc., Coca-Cola Co., Ford Motor Credit Co. and International Business Machines Corp., among others, together have sold almost 18 ...

Bloomberg US companies submitted a record number of patent applications to the European Patent Office in 2018, retaining the country’s status as the most prolific filer. The 43,612 patent applications US companies filed was 25 percent of the total, the agency said on Tuesday, and far more than the 26,734 filed by Germany, the closest competitor. It was up 2.7 ...