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Abu Dhabi / WAM The Abu Dhabi based Borouge and the Ministry of Climate Change and Environment (MOCCAE) sealed an MOU to enhance plastics innovation and increase their efforts to protect the UAE climate and environment. In the presence of Dr Thani bin Ahmed Al-Zeyoudi, Minister of Climate Change and Environment, as well as Abdulaziz Alhajri, Chairman of Borouge and ...

Bloomberg The US midterm elections are at increasing risk of interference by foreign adversaries led by Russia, and cybersecurity experts warn the Trump administration isn’t adequately defending against the meddling. At stake is control of the US Congress. The risks range from social media campaigns intended to fool American voters to sophisticated computer hacking that could change the tabulation of ...

Bloomberg In a milestone that’s been more than a decade in the making, India’s first Ikea store will open on Thursday, bringing inexpensive Nordic-inspired furnishings and food to the world’s fastest-growing middle class. Ikea expects to welcome as many as 6 million visitors a year to its 13-acre complex in Hitec City, on the outskirts of Hyderabad, India’s fourth-biggest city. ...

Bloomberg Samsung, South Korea’s biggest conglomerate, plans to invest $161 billion to ramp up its ability to produce memory chips and other products vital to future growth, lending its support to President Moon Jae-in’s efforts to shore up a slowing economy. The spending will boost research and expenditure in artificial intelligence, fifth-generation wireless networks, bio-pharmaceuticals, displays, semiconductors and other key ...

Bloomberg As Nafta negotiators from the US and Mexico meet for a third straight week in a push to complete a deal on cars, they’re also preparing for a showdown over a clause sought by the Trump administration that could end the agreement altogether. The nations are nearing an accord on content and salaries for auto manufacturing, and the issue ...

Bloomberg The US said it will begin imposing 25 percent duties on an additional $16 billion in Chinese imports in two weeks, escalating a trade war between the world’s two biggest economies. Customs will begin collecting the duties on 279 product lines, down from 284 items on the initial list, as of August 23, the US Trade Representative’s Office said ...

Bloomberg Dry, hot and windy conditions are threatening to expand California’s largest wildfires, which so far are burning in largely rural areas, muting their economic impact. The fires, which have killed 12 people and burned an area almost as big as Rhode Island, have hit the tourism industry around Yosemite National Park but left agricultural areas mostly unscathed. “While the ...

CAIRO / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Abdel Fattah el-Sisi, President of Egypt, have discussed the relations between the UAE and Egypt and means of strengthening them, as well as regional and international issues of mutual interest. The discussion, which took ...

DUBAI / Emirates Business In recent years, since the oil price slump, plans have emerged across the Gulf to curb fiscal deficits and diversify economies, most notably through the development of national infrastructure, highlights a new report by Oliver Wyman. Titled “How Public-Private Partnerships can support the Gulf’s Economic development,” the report highlights the significance of the private sector’s contribution ...

ABU DHABI / WAM Aldar announced its financial results for the first half of 2018, delivering a resilient underlying performance across the business. According to a press statement, gross profit in the second quarter of 2018 increased by 20 percent to AED649 million compared to AED542 million in 2017. Commenting on the results, Talal Al Dhiyebi, Chief Executive Officer of ...