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Abu Dhabi / Emirates Business The Masdar Institute of Science and Technology announced the development of a high-performance solar absorber that could make solar thermal technologies significantly more efficient. Masdar Institute is part of the Khalifa University of Science and Technology. The solar absorber, developed with the Massachusetts Institute of Technology (MIT), features an ultrathin nanocomposite film made of silver ...

FUJAIRAH / WAM National Bank of Fujairah (NBF) announced its results for the six month period ended June 30, 2017. It shows a net profit of AED154.9 million in second quarter of 2017, Q2, a rise of 24.4 percent over the corresponding quarter of 2016. On the back of a strong Q2 2017 performance, NBF reported a net profit of ...

Dubai / WAM An agreement was signed between global trade enabler DP World and Indonesian government and port officials to advise on the development of the Kuala Tanjung greenfield port and logistics zone and Belawan port in North Sumatra. As part of a Technical Assistance Contract, DP World will share its expertise and experience in increasing efficiencies, training and development ...

DUBAI / WAM The Ministry of Finance (MoF) assigned Emirates Development Bank (EDB) to create an electronic register to publicise related rights to ‘Mortgage of Movable Property’. Khalid Ali Al Bustani, Assistant Under-Secretary of International Financial Relations Sector at the ministry and Rashid Mahboob Misbah, Acting CEO of EDB, in Dubai signed an agreement to this effect. The collaboration aims ...

Bloomberg Turkey is building up its military presence in Qatar, an adviser to President Recep Tayyip Erdogan said, in defiance of a Saudi-led bloc’s demand that the Turkish military pull out of the emirate. “Turkey’s steady buildup continues there, protecting the border and the security of the Qatari government,” adviser Ilnur Cevik said on Monday by phone. Turkey has deployed ...

Bloomberg China’s economy grew faster than expected in the second quarter, putting the nation on track to meet its growth target this year and giving backing to officials in their campaign to corral oncoming financial risk. Data showing that the world’s second-largest economy expanded 6.9 percent in the second quarter, matching the pace from the first three months, was released ...

Bloomberg Mining companies in Australia, the world’s biggest exporter of iron ore and coal, are poised to approve fresh investments in projects, driven by rallying commodity prices and the need to replace depleting deposits, according to global equipment supply giant Komatsu Ltd. “They’re looking at new fleets of equipment,” Sean Taylor, chief executive officer of Komatsu’s Australian unit, said in ...

Bloomberg Qualcomm Inc. lost a court bid to stall European Union regulators from imposing daily fines of 580,000 euros ($664,216) for failing to supply information for antitrust probes into the chip company’s sales tactics. San Diego-based Qualcomm can’t continue to refuse answering regulators’ questions because it didn’t show its business or financial health was at risk, EU General Court President ...

Bloomberg Hedge funds and high-speed traders have been fighting for years to level the playing field with banks on derivatives trading. They just won a round in Europe. The European Securities and Markets Authority said earlier this month that trading platforms should ensure access to a broad array of firms and warned against discriminatory policies that would favor some traders ...

Bloomberg The US labor market was robust enough last month to draw more Americans off the sidelines and into the workforce. The same trend may also be keeping wage gains subdued. While payrolls grew by more than analysts forecast and the unemployment rate barely ticked up from a 16-year low, worker pay rose a less-than-expected 2.5 percent in June from ...