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DUBAI / WAM Dubai SME, the agency of the Department of Economic Development (DED), in Dubai mandated to develop the Small and Medium-sized Enterprise (SMEs), sector, has signed a Memorandum of Understanding (MoU), with Emaar Industries & Investments, to co-operate and collaborate in assisting local SMEs to be part of innovative projects and grow internationally. The MoU is part of ...

DUBAI / WAM Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (Dewa), received a high-profile delegation from Japan Bank for International Cooperation (JBIC), to discuss cooperation through joint initiatives, programmes, projects, and investment opportunities. The Japeanese delegation included Nobumitsu Hayashi, Deputy Governor of JBIC, and Naoki Tamaki, Chief Representative for the Middle East from the ...

Dubai / WAM The Dubai Press Club (DPC), announced theme for the 18th edition of the Arab Media Forum (AMF), as “Arab Media: From Now to the Future”. Held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the annual media event is scheduled to take ...

Geneva / WAM Obaid Salem Al Zaabi, UAE Permanent Representative to the United Nations (UN), in Geneva, stated that the UAE is a model to follow of openness to other religions and supporting minorities. During the UAE’s speech at the 40th edition of the Human Rights Council, under the framework of the interactive dialogue of the “Special Rapporteur on Freedom of ...

Sharjah / WAM Pearl Petroleum Company Limited, the consortium led by Crescent Petroleum and Dana Gas of the UAE, has signed a new 20-year Gas Sales Agreement (GSA), with the Kurdistan Regional Government. The agreement will enable production and sales of an additional 250 MMscf/day that the consortium aims to produce by 2021 as part of their expansion plans in the ...

Dubai / WAM Dubai Chamber of Commerce and Industry has announced the formation of the New Zealand Business Council (NZBC), in Dubai in a move to strengthen UAE-New Zealand relations and expand bilateral economic ties. The New Zealand Business Council is the 50th country-specific business council to be established in Dubai under the umbrella of Dubai Chamber. The council has ...

Bloomberg After a few years of roughly stable payouts for many of Europe’s energy traders, big bonuses are back for the cream of the crop. The best traders in natural gas to power can look forward to handsome rewards after navigating markets that last year sparked to life with more bullish trends and a good dose of volatility. More people ...

Bloomberg The head of Colombia’s state oil company Ecopetrol said he doesn’t see the need for the government to sell another stake in the company — an idea the finance minister supports. The ministry is weighing the sale of an 8.5 percent stake in Ecopetrol, worth about $3.6 billion. CEO Felipe Bayon said such a sale could take as long ...

Bloomberg Despite sitting on top of the world’s largest crude reserves, the reach of Venezuela’s state-owned oil company is receding. In the 1980s Petroleos de Venezuela SA started an international expansion with the objective of finding new outlets for its growing oil production. The company bought Citgo Petroleum Corp. in the US, leased the Isla refinery in Curacao, bought a ...

Bloomberg The US and China are edging closer to resolving differences on currencies that have bogged down economic talks for nearly two decades. The only question is how meaningful the deal will be. With both nations inching towards a trade agreement that’s expected to include a provision for China to hold the yuan stable, US President Donald Trump is shifting ...