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Dubai / WAM Dubai Food Park (DFP), the region’s largest specialised zone dedicated to serving the rapidly growing food sector, signed an AED1.35 billion investment agreement with Ningxia Forward Fund Management Company on Saturday to build a world-class China-UAE Food Industrial cluster in Dubai. The strategic agreement will consolidate China’s stake in the burgeoning Middle East food industry and expand ...

Astana / WAM Dr Mohammed Ahmed bin Sultan Al Jaber, UAE Ambassador to the Republic of Kazakhstan, met Timur A. Kulibayev, Chairman of the KAZENERGY Association, in Kazakhstan. During the meeting, the two sides discussed means of boosting bilateral cooperation between the UAE and Kazakhstan in various fields, especially in the economy, trade, business, investment, tourism and infrastructure. Kulibayev praised ...

Dubai / WAM The Dubai Metro has broken the one billion passenger barrier, a top official of the Roads and Transport Authority (RTA), announced. Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of RTA, said that the Dubai Metro, comprising the Red and Green lines, transported 1.028 billion passengers, since the launch of the service on ...

Bloomberg Hurricane Irma headed for an all-but-certain collision with southern Florida after devastating the Caribbean islands and swiping at Cuba as it threatens to become the most expensive storm in US history. While top winds dropped to 130 miles (209 kilometres) an hour, the life-threatening storm’s swollen size means most of Florida will face hurricane-force winds as it cuts a ...

Bloomberg The UK has gained potential allies in its bid to hold on to the business of clearing euro-denominated derivatives after Brexit. Sweden said a European Union proposal to allow authorities to force the biggest foreign derivatives-clearing firms to set up shop in the bloc could prove excessive, according to an earlier document that summarises the positions of 10 national ...

Bloomberg Uber Technologies Inc. is under investigation by federal authorities in New York for its alleged use of a spyware programme designed to undermine competition for its digital ride-hailing service, according to people familiar with the matter. The executive charged with making sure Uber follows the law, Global Head of Compliance Joseph Spiegler, resigned last week after a year and ...

Bloomberg China will expand its agricultural use of environment-damaging plastic film to boost crop production even as authorities try to curb soil pollution, a government scientist said. Some 1.45 million metric tons of polyethylene are spread in razor-thin sheets across 49 million acres—an area about half the size of California—of farmland in China. Use of the translucent material may exceed ...

Bloomberg India must boost growth if it’s to provide enough jobs for what will be the world’s biggest workforce, and history shows that some of the country’s best economic phases have come when society is most open, said Raghuram Rajan. Speaking a week after data showed growth in Asia’s No. 3 economy unexpectedly slowed to 5.7 percent, the former governor ...

Bloomberg The US said it would seek a vote on Monday on a draft United Nations Security Council resolution on North Korea, as it pushes for fresh sanctions against the regime after its recent nuclear test. The US informed the Security Council of its plan to call the vote, the State Department said in a brief statement, adding it would ...

SHARJAH / WAM A massive 24 million square metre-project said to be generating AED24 billion in real estate value was launched in Sharjah in the presence of HH Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah. The Aljada, owned by Arada, is said to be the largest privately-owned mixed-use real estate project in the ...