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Bloomberg Mexico plans to cut spending next year in order to meet its zero deficit target as manufacturing exports slowed and lower oil prices weighed on revenue. After slashing 2016 spending by 132 billion pesos ($7.6 billion), Mexico estimates a 175 billion-peso reduction in outlays next year compared to this year’s budget, the Finance Ministry said in a report to ...

Caracas / Reuters Venezuela will reduce power generation if the key Guri dam, which supplies around half of the blackout-hit country’s electricity, falls below a minimum level that is fast approaching, an official said. A severe drought, coupled with what critics say is a lack of investment and maintenance in energy infrastructure, has hit the South American nation which depends ...

Abu Dhabi / WAM Masdar City in Abu Dhabi, one of the world’s most sustainable urban developments, will undergo significant expansion over the next five years driven by its emergence as a hub for R&D and the commercialisation of clean technologies. “Around 35 percent of the planned built-up area will be completed over the next five years — up from ...

Sunaina Rana / Emirates Business The United Arab Emirates is one of the largest consumers of international and domestic brands across the region. The country is also considered a safe haven within the Middle East, with well-developed infrastructure and a tax-free environment. Gauging the immense scope in the industry, Saudi Arabia’s leading packaging company Goody is all set to collaborate ...

Abu Dhabi / WAM Tadweer, the Center of Waste Management, Abu Dhabi, implemented a social awareness initiative for citizens who were granted new residential units as per the President’s recent decree. Tadweer representatives were present at the Abu Dhabi Municipality during the handing over of keys to the new owners in order to educate them on maintaining proper cleanliness, public ...

Dubai / Emirates Business Cisco announced that Smartworld, an Etisalat and Dubai South joint venture company, has deployed the Cisco Digital Ceiling framework to create a smart, highly secure and connected indoor space at its new headquarters in Dubai South. The implementation brings together Cisco’s secure IT network with an advanced LED connected lighting system from Philips Lighting to enable ...

Dubai / Emirates Business As part of its efforts to support creative and commercially-minded youth and to help them turn their business ideas into reality, the Dubai Chamber of Commerce and Industry initiative, Tejar Dubai entrepreneurship development programme, launched three commercial projects. These include ‘Video Tube’, offering services in marketing and digital media; Redjani‘E-Shop’ for trading online; and ‘Etihad OS’, ...

REUTERS Kuwait’s Jazeera Airways said on its major shareholder had no current plans to divest its stake in the airline. The carrier was responding to press reports that Boodai Corporation, an investment holding conglomerate, hired HSBC Bank Middle East Limited to advise it on a possible stake sale. Sources had confirmed this to Reuters early last week. Jazeera Airways’ major ...

Istanbul / AFP Turkish authorities on Saturday raced to set up reception centres to process Syrian and other migrants two days ahead of the implementation of a hugely controversial deal with the EU for them to be sent back from Greece to Turkish soil. Turkey is due to start receiving migrants who crossed the Aegean Sea for EU member Greece ...

Bloomberg President Barack Obama said he was concerned that crackdowns against the press by Turkish President Recep Tayyip Erdogan could lead his nation down a “troubling” path. The comments, which represented a rare pointed critique of the leader of a NATO ally, came the day after Turkish security officials clashed with protesters and reporters before Erdogan delivered a speech in ...