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  Dubai / Emirates Business World leaders and official government delegations attending the recently concluded 22nd session of the Conference of Parties (COP) of the United Nations Framework Convention on Climate Change (UNFCCC) in Marrakech renewed their commitment to translating the outcomes of the Paris Climate Agreement into concrete steps and successful projects towards reducing the impact of global warming ...

  AFP Chinese household debt has risen at an “alarming” pace as property values have soared, analysts say, raising the risk that a real estate downturn could send shockwaves through the world’s second largest economy. Loose credit and changing habits have rapidly transformed the country’s famously loan-averse consumers into enthusiastic borrowers. Skyrocketing real estate prices in major Chinese cities in ...

  AFP Prime Minister Narendra Modi’s shock decision to scrap most of India’s curr- ency was hailed by some as a masterstroke against endemic corruption, but signs are emerging that it may hit the economy hard. The sweeping overnight abolition of all high-value notes was supposed to bring billions in so-called “black”, or undeclared, money back into the formal system. ...

  Bloomberg Leaders of the campaign for Britain to quit the European Union rejected a plan reportedly being devised by Bank of England Governor Mark Carney to negotiate a “buffer” to allow companies to adjust to the UK leaving the bloc. Former Justice Secretary Michael Gove, who failed in a bid to lead the Conservative Party after David Cameron quit ...

  BERLIN / AP Swiss voters rejected a plan to force their government to accelerate the country’s exit from nuclear energy in a referendum Sunday, turning down an initiative that would have seen the last plant shut in 2029. A majority of cantons (states) voted against the plan. Under Switzerland’s direct democracy system, proposals need a majority of both cantons ...

  DUBAI / WAM Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum said that the private sector has played a key role over the last four decades in the UAE’s development. He said the UAE is keen to enhance public–private partnerships (PPP) based on the principle of creating ...

  Dubai / Emirates Business “As drones and driverless vehicles have arrived to do the last mile delivery, supply chain and logistics industry is in for a massive shift in approach in 2017 and beyond,” stated Shashi Shekhar, Group Chairman and founder of SCLG, during the 9th Global Supply Chain and Logistics Summit. Last year, UAE’s supply chain and logistics ...

  Mexico City / WAM The UAE seeks to strengthen trade and economic relations and partnerships with Mexico, building on the two economies’ high resilience against global challenges, successful Emirati foreign investments and Mexico’s position as a significant recipient of UAE non-oil exports, UAE Minister of Economy Sultan bin Saeed Al Mansouri has stressed during a joint business forum in the ...

  Dubai / Emirates Business To further broaden awareness on the identity of the local maritime sector, the Dubai Maritime City Authority (DMCA) has announced that it will be cooperating with the Dubai Chamber of Commerce and Industry in supporting and globally promoting the ‘Maritime Dubai’ initiative. The partnership aims to spur leadership in the development of a renewable, safe ...

  Dubai / Emirates Business Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, announced on Saturday the launch of its credit card in partnership with Dubai-based flydubai. The credit card will enable customers to enrol in OPEN, a newly launched rewards programme from flydubai. By joining the programme, customers will earn OPEN reward points every time they ...