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Abu Dhabi / WAM Masdar, the Abu Dhabi Future Energy Company, announced on Wednesday the installation of the first of 13 turbines at the 50 megawatt (MW) Dhofar Wind Farm. Located in the southern Omani governorate of Dhofar, the project is fully financed by Abu Dhabi Fund for Development (ADFD), the leading national entity for international development aid. The project ...

Dubai / WAM Etihad Credit Insurance (ECI), the UAE Federal export credit company, and the Ras Al Khaimah Chamber of Commerce and Industry, has signed a Memorandum of Understanding (MoU) to support the local business community, particularly those from the trade and export sectors. The MoU was signed by Mohammed Hassan Al Sabab, Acting Director-General of RAK Chamber, and Massimo ...

Bloomberg North and South Korea staged a symbolic ground-breaking ceremony to upgrade severed rail links, although UN Security Council approval would be needed to advance the project. Long-stalled plans to restore rail links severed by the Korean War were revived in historic summits by North Korea leader Kim Jong-un and South Korean President Moon Jae-in earlier this year. While South ...

Bloomberg Nissan Motor Co. updated its corporate governance code, a month after the shock arrest and indictment of former chairman Carlos Ghosn brought differences with partner Renault SA out in the open after a two-decade partnership. As part of the new code, Nissan clarified its policy on cross-shareholdings, in which two companies hold stakes in each other. The board will ...

Bloomberg Despite a flurry of disappointing data, the euro-area economy doesn’t necessarily face a bleak winter. Hidden behind figures that point to a protracted slowdown — such as yet another drop in German business confidence — are a few encouraging signs. For European Central Bank President Mario Draghi, pay gains, rising exports and receding problems in the auto industry offer ...

Bloomberg Mattel Inc extended its longest streak of daily declines since 2015 after Goldman Sachs analysts cut estimates following the toymaker’s loss of licensing for certain DC Comics products, including boys’ action toys. Spin Master Corp will be the new licensee for DC in the boy’s action category, remote control and robotic vehicles, water toys and games and puzzles, displacing ...

Bloomberg Britain’s Brexit limbo is helping to give Luxembourg’s booming funds industry a boost at the expense of jobs in the City of London. UK funds are racing to set up management units in the EU to avoid being locked out of the soon-to-be 27 nation bloc come March 29. And many are choosing tiny Luxembourg, which has already carved ...

Bloomberg The speaker of Russia’s parliament raised the possibility of changing the constitution as speculation grows that the Kremlin is considering ways to allow President Vladimir Putin to remain in power beyond the end of his current term, when current law requires him to step down. “This is about the transfer of power,” said Gleb Pavlovsky, a political analyst and ...

Dubai / WAM Participants in the UAE-Kazakh Business Forum highlighted the importance of reinforcing trade and investment ties between the two countries. The forum, held at the Dubai Chamber of Commerce and Industry, saw discussions and presentations by the Ministry of Economy, the Ras Al Khaimah Chamber of Commerce and Industry, and the Ministry of Investment and Development of Kazakhstan. ...

ABU DHABI / WAM Dr Thani bin Ahmed Al Zeyoudi, Minister of Climate Change and Environment, has said that environment-smart agriculture (ESA), is a new concept being adopted around the world, where smart technologies and environmentally friendly agricultural practices are being applied. In a statement to the Emirates News Agency (WAM), he said, “We, in the UAE, have adopted environment-smart ...