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DAVOS / WAM Innovation, entrepreneurship and future economies were the main theme of a panel session organised by the UAE during the 2018 World Economic Forum (WEF) in Davos. The sessions aimed to share experiences regarding successful innovation policies and actions that can help address some of the current global innovation challenges. The attendees underlined the fact that innovation and …

ABU DHABI / WAM The Securities and Commodities Authority (SCA) announced an initiative for launching the region’s first-of-its-kind form of trading in emissions that specifically targets carbon dioxide. The initiative reflects the significant growth in passenger and cargo air traffic in the country, with the UAE ports now considered a main destination for a large number of international air carriers, …

DAVOS / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, met Federal Councillor Johann N Schneider-Ammann, the Head of the Swiss Federal Department of Economic Affairs, Education and Research, during the World Economic Forum 2018. The meeting, attended by Hessa Essa Buhumaid, Minister of Community Development, and Mariam Hareb Almheiri, Minister of State for Future Food Security, saw discussions …

Bloomberg Porsche AG will pursue a three-pronged strategy to diversify its lineup as the German manufacturer gears up for the rollout of its first all-electric sports car next year to tackle a fundamental industry shift towards battery-powered vehicles. “There will be a triad: plug-in hybrids, emotional sports cars with combustion engines and sporty electric vehicles,” Chief Executive Officer Oliver Blume …

Bloomberg Meituan is the kind of Chinese technology company few people outside the country understand. That’s because its services aren’t quite like anything you might find abroad. Meituan has a restaurant review feature sort of like Yelp, but its app also lets you order off the menu from your phone the minute you sit down. You can settle your check …

Bloomberg Flying cars will be zipping across US skies within the coming decade—at least that’s what Uber Technologies’ CEO Dara Khosrowshahi predicts. “There will be people flying around Dallas, Texas,” Khosrowshahi said at the DLD tech conference in Munich. “I think it’s going to happen within the next ten years.” Back down on the ground, the Uber CEO cited congested …

Bloomberg After Erin Hiscock’s mother and brother passed away, she resolved to tackle her own weight problem. “I was maybe 310 pounds at my heaviest and severely addicted to sugar,” she says. “Instead of a normal meal, I’d just eat carbs, sugar, nothing nutritious.” Hiscock, a 35-year insurance agent in Virginia, didn’t turn to diet books, Weight Watchers, or even …

Bloomberg Saudi Aramco’s trading unit started swapping the kingdom’s crude oil for products refined in other countries, allowing the company to tap new markets, according to its chief executive officer. The company has supplied crude to refiners in the Mediterranean region and gotten fuel in return, Ibrahim Al-Buainain, chief executive officer of Saudi Aramco Products Trading Co., said by phone. …

DAVOS / Reuters US Energy Secretary Rick Perry told oil super-powers Russia and Saudi Arabia he believed US shale oil boom would not become a spoiler for oil markets because new production would be absorbed by fast rising global demand. Perry, a former governor of Texas, the heartland of the US shale oil boom, was speaking at a rare joint …

BEIJING / Reuters Russia held firm as China’s top crude oil supplier in December for the 10th month and racked up its second year as the largest supplier in 2017, customs data showed, leaving rival exporter Saudi Arabia in second place on both fronts. Exports from Russia hit 5.03 million tonnes in December, down 0.2 percent from a year earlier, …