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Dubai / WAM Dubai Financial Market (DFM), announced the launch of the General Clearing Member service (GCM), enabling approved local banks to provide brokerage firms with clearing and settlement services, following the completion of various technical and regulatory arrangements, as well as tuning the business model to accommodate the new services. With this step, brokerage firms can now outsource the ...

Dubai / WAM The World Government Summit Organisation, (WGSO), launched on YouTube a virtual reality video of the ‘Mars 2117’ project, previously featured at the 5th edition of the World Government Summit in February 2017. The launch is part of the organisation’s ongoing efforts to accumulate and promote cutting-edge technological advances and introduce them to governments. The video offers a ...

Sharjah / WAM The second edition of the International Photography Festival, Xposure, the region’s largest photography event, which witnessed the participation of some of the biggest names in international photography and leading international brands, concluded at Expo Centre Sharjah. The four-day festival, themed ‘Captivating Stories’, was organised by the Sharjah Government Media Bureau (SGMB). Xposure 2017 lit up new perspectives ...

Sharjah / WAM Sharjah Municipality announced the paid parking zones all over Sharjah will be free of charge for four days on the occasion of the Prophet Mohammad’s (PBUH), birthday, Commemoration Day, and the UAE 46th National Day, the Sharjah 24 news website reported. The free parking will start on November 30, with paid services to be reactivated as of ...

Dubai / Emirates Business The winners of the inaugural Dubai Sustainable Tourism Awards have been announced by Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism). Comprising 17 different categories, the Awards recognise and celebrate the important work of Dubai’s hotels and tourism companies in advancing sustainability within the emirate’s tourism industry. Held at The Westin Dubai Al Habtoor City, ...

DHAHRAN / Reuters State oil giant Saudi Aramco and petrochemical producer Saudi Basic Industries Corp (SABIC) signed a memorandum of understanding on Sunday to build a $20 billion complex converting crude oil to chemicals in the kingdom. The project, which the partners said would be the largest crude-to-chemicals facility in the world, is a sign that the Saudi government plans ...

Bloomberg Sasol Ltd. said it will steer clear of big new investments as the world’s largest maker of fuel from coal reviews existing assets and focusses on completing its $11.13 billion US chemicals plant. Sasol won’t invest in further new gas-to-liquids or crude-oil refining capacity, according to a statement on its website ahead of an investor day being held in ...

Bloomberg Australia’s proposed National Energy Guarantee program could slash investment in large-scale wind and solar projects if the government fails to boost its 2030 emissions-reduction target, according to a report from Bloomberg New Energy Finance. Prime Minister Malcolm Turnbull government’s goal of redu- cing emissions by 28 percent by 2030 only requires an additional 1.5 gigawatts of new large-scale renewables, ...

BEIJING / Reuters China has issued crude oil import quotas for 2017 of 1.5 million tonnes to three independent refiners, three sources familiar with the situation said, a sign Beijing is easing its policy towards these companies sometimes known as teapots. Shandong Qingyishan Petrochemical Technology Co was granted a quota of 800,000 tonnes, Zibo Xintai Petrochemical Co was given 500,000 ...

Bloomberg Forecasts for a warm start to December are raising the specter of a third straight mild winter, sending US natural gas futures sliding the most since February. A midday update to the government’s Global Forecast System weather model maintained a “much too warm” pattern through December 6, despite a couple of cool shots across the northern tier of the ...