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70 die as quake hits central Italy

  Accumoli / AFP A powerful pre-dawn earthquake devastated mountain villages in central Italy on Wednesday, leaving at least 73 people dead, dozens more injured or trapped under the rubble and thousands temporarily homeless. Scores of buildings were reduced to dusty piles of masonry in communities close to the epicentre of the pre-dawn quake, which had a magnitude of between ...

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Turkey tanks help Syria rebels ‘seize’ IS-held town Jarabulus

  Karkamis / AFP Turkish tanks and hundreds of opposition fighters thrust deep inside Syrian territory on Wednesday in a lightning operation that within hours ousted IS extremists from a key Syrian border town. The air and ground offensive—the most ambitious launched by Ankara in the Syria conflict—made rapid progress towards Jarabulus with rebel fighters already proclaiming victory by the late ...

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Sanad, Etihad sign $265mn deal

  Abu Dhabi / WAM Sanad Aero Solutions GmbH (Sanad), a wholly-owned subsidiary of Mubadala Development Company, on Wednesday announced an expansion to its existing relationship with Etihad Airways, national carrier of the UAE. The 12-year sale and lease-back agreement is valued at US$265 million and sees Sanad add an additional 12 spare engines in support of the airline. Sanad, which ...

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Emirates Auction wins UAE Excellence Award

  Dubai / WAM Emirates Auction, a world leading company in hosting, organising and managing public auctions of all kinds, was announced as the winner of the Best Web Application Award in the Services Category during the 9th UAE Excellence Awards ceremony organised recently at the Al Bustan Rotana, Dubai. Abdullah Matar Al Mannai, Executive Director of Emirates Auction, received the ...

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German economy sees unexpected growth

  Frankfurt / AFP Strong foreign trade and buoyant consumption drove Germany’s economy, Europe’s largest, to better-than-expected growth in the second quarter, federal statistics office Destatis said on Wednesday. Gross domestic product (GDP) grew by 0.4 percent between April and June, adjusted for seasonal, calendar and price effects — twice as fast as analysts surveyed by Factset predicted. However, the ...

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Spotlight on industrial cyber security in Mideast

  ABU DHABI / Emirates Business Booz Allen Hamilton, the global consulting and technology firm, has highlighted the most significant threats to Industrial Control Systems (ICS) in 2016 and 2017, and the most effective measures to counter them, in a recent report titled Industrial Cybersecurity Threat Briefing. These systems control and automate significant portions of our connected lives today, and ...

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Bloom Properties to hand over Bloom Gardens in Dec

  Emirates Business Bloom Properties, a Bloom Holding subsidiary specialized in the development of integrated and sustainable communities, is set to deliver Phase 3 of its Bloom Gardens master development prior to the scheduled hand-over in Q1, 2017. Consequently, home owners and investors will begin to move into the 147 housing units as early as December, 2016. Bloom Gardens Phase ...

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PetroChina ekes out profit with pipeline network sale

  Bloomberg PetroChina Co., the country’s biggest oil and gas producer, posted its smallest half-year profit since it was publicly listed in 2000 as the crash in oil prices continues to drag on earnings. Net income dropped 98 percent to 531 million yuan ($80 million), the state-run explorer said in a statement to the Hong Kong stock exchange on Wednesday. ...

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Japan’s GLM seeks to cash in on China’s electric vehicle boom

  Bloomberg GLM Co., a Japanese automaker backed by former Sony Corp. Chief Executive Officer Nobuyuki Idei, said it’s close to winning its first deals to supply customized vehicle frames to companies seeking to produce electric cars. The Kyoto-based automaker is close to signing deals to supply vehicle platforms for about 10 carmakers, including some in China, founder and CEO ...

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WFES to showcase profitable clean energy solutions

  Abu Dhabi / WAM With the cost of solar energy plummeting, the World Future Energy Summit 2017 (WFES) will showcase an unprecedented range of financially profitable clean energy solutions, opening up opportunities for green tech companies as the MENA region moves to achieve ambitious sustainability targets. Figures from the International Renewable Energy Agency (IRENA) show that the installed cost of ...

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