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DUBAI – March 7, 2017 Hotpack Packaging Industries, a leading producer and wholesaler of quality disposable food packaging materials in the UAE, has recently announced an investment of GBP 50 million to develop a facility in Wrexham – Wales, England. The facility will be equipped with the latest in packaging and manufacturing technologies. The announcement was made when Ms. Lesley Griffiths, Welsh Government Cabinet Secretary for Environment […]

07 March 2017 Geneva – The International Air Transport Association (IATA) released data for global air freight markets showing that demand, measured in freight tonne kilometers (FTKs), rose 6.9% in January 2017 compared to the year-earlier period. While this was down from the 10% annual growth recorded in December 2016 it still was well above the average annual growth rate of 3% over the past five years. Growth […]

Jun Wang (sitting), Christopher Eng (standing), Jiajun Wang (left, laptop screen), and Liguang Wang of Brookhaven National Laboratory used transmission x-ray microscopy combined with spectroscopy to produce the colored maps shown on the large screen. These maps reveal the structural expansion (and the resulting cracks/fractures) and chemical composition changes that occur as sodium ions (Fe, green) are added to and removed from iron sulfide (FeS, red) during […]

Republicans on Monday took a step closer towards delivering on Donald Trump’s pledge to scrap Obamacare, by unveiling a long-awaited plan to repeal the healthcare reforms that is set to trigger fierce debate in Congress. The draft legislation, which would roll back many of the core tenets of Barack Obama’s government-led healthcare legacy, was released by Republican lawmakers who have struggled to bridge internecine divisions as they […]

By Ernest Scheyder | HOUSTON HOUSTON Exxon Mobil Corp (XOM.N), the world’s largest publicly traded oil producer, said on Monday it would invest $20 billion through 2022 to expand its chemical and oil refining plants on the U.S. Gulf Coast. The investments at 11 sites should create 35,000 temporary construction jobs and 12,000 permanent jobs, Chief Executive Darren Woods said in a speech at CERAWeek, the world’s […]

06 March 2017 In coherence with the Saudi king, Salman Bin Abdel Aziz Al Saoud’s visit to Indonesia, Rotana, one of the region’s biggest media networks has launched three dedicated channels in the Indonesian market. This expansion of the Saudi network is the first in a state considered the biggest Islamic country population wise, launching three new channels in partnership with “Lightning” and available on SMV Free […]

· Initiative co-founded by Facebook, Intel, Nokia, SK Telecom, Deutsche Telekom and others · Collaboration across the industry in driving and innovating the development of high-quality, scalable and more affordable telecom infrastructure to bridge the digital divide 06 March 2017 Barcelona, Kuwait City – During last week’s Mobile World Congress in Barcelona, Zain Group, the leading mobile telecom innovator in eight markets across the Middle East […]

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The opening of Abu Dhabi Airports’ $2.94 billion Midfield Terminal has been pushed back by two years, regional newspapers reported on Monday, in the latest setback for a project seen as crucial to the emirate’s wider expansion into tourism. Abu Dhabi, home to the capital of the UAE, is investing billions in tourism, infrastructure and industry to diversify its economy away from oil. But some projects have […]

· Initiative co-founded by Facebook, Intel, Nokia, SK Telecom, Deutsche Telekom and others · Collaboration across the industry in driving and innovating the development of high-quality, scalable and more affordable telecom infrastructure to bridge the digital divide 06 March 2017 Barcelona, Kuwait City – During last week’s Mobile World Congress in Barcelona, Zain Group, the leading mobile telecom innovator in eight markets across the Middle East […]

Recruiters in the Bay Area and executives at rival companies say they have seen an uptick in job applications from Uber employees, as its workers lose faith in the company’s leadership and start to doubt the value of their stock options. Uber has gone from crisis to crisis over the past five weeks, prompting increasing numbers of employees to explore the idea of leaving a start-up that […]

– Issuance is a Call to Kuwaiti Corporates to take Advantage of Sukuk for Financing Projects – 7-Fold Oversubscription evidence for EQUATE’s robust position, Sukuk Importance 05 March 2017 Kuwait – Chief Executive Officer -KFH Capital, affiliated to Kuwait Finance House Group, Abdulaziz Nasser Al-Marzouq said that KFH Capital acted as a global coordinator and book runner for EQUATE SUKUK SPC Limited’s (“EQUATE SPC”) in […]

As part of the previously previewed “Two Sessions” which started on Sunday, Chinese Premier Li Keqiang on Sunday delivered the annual report on the work of the government in Beijing, summarizing the country’s achievements in the past year, and setting goals for this year. In his policy speech, lasting 97 minutes and 18,600 Chinese characters, Li signaled a course adjustment for the world’s second-largest economy and some […]

05 March 2017 Ras Al Khaimah, UAE – During a meeting at RAK Chamber between the chamber’s Chairman, H.E. Yousef Obaid Al Nuaimi and H.E. Robert Rostek, Ambassador of the Republic of Poland to the UAE, Al Nuaimi highlighted the importance of the development of economic relations between the Ras Al Khaimah and Poland. He underlined the chamber’s commitment to support, develop and diversify fields of economic […]

By David Shepardson | WASHINGTON WASHINGTON The White House budget director confirmed Saturday that the Trump administration will propose “fairly dramatic reductions” in the U.S. foreign aid budget later this month. Reuters and other news outlets reported earlier this week that the administration plans to propose to Congress cuts in the budgets for the U.S. State Department and Agency for International Development by about one third. “We […]

Via Nicholas Eberstadt of CommentaryMagazine.com, On the morning of November 9, 2016, America’s elite—its talking and deciding classes—woke up to a country they did not know. To most privileged and well-educated Americans, especially those living in its bicoastal bastions, the election of Donald Trump had been a thing almost impossible even to imagine. What sort of country would go and elect someone like Trump as president? Certainly not […]

Digital and in-app transactions can reach unbanked audiences with convenient, fast and low-overhead services 04 March 2017 Dubai – The Foreign Exchange and Remittance Group (FERG), comprising businesses engaged in the money exchange and remittance industry, believes the rise of fintech in the GCC can help the remittance sector serve wider audiences faster through digital-first channels. The announcement comes as the Fintech industry booms globally and is […]

(Image: file photo) The clock is ticking for a controversial surveillance provision, which is is set to expire at midnight at the end of the year. But the Trump administration has signaled that it will support its clean reauthorization. Passing a clean version of the Foreign Intelligence Surveillance Act, or FISA, is “necessary to protect the security of the nation,” according to a White House official speaking […]

Speaking to American state governors this week in the state dining room of the White House, Donald Trump hit on a point that is of no surprise to investors: healthcare is “an unbelievably complex subject”. The Affordable Care Act, one of the two key pillars of the healthcare reform signed into law by former US President Barack Obama in 2010, is 906 pages long — the table […]

Three GCC-based retailers have been named in a new list of the world’s top 250, with the UAE’s Emke Group ranked the Middle East’s biggest. Emke, which runs the Lulu chain on hypermarkets and earlier this month announces major expansion plans in Saudi Arabia, posted sales revenue of $6.2 billion. Dubai mall operator Majid Al Futtaim saw revenue of $6 billion while Saudi-based food firm Savola posted […]

NBCUniversal has ramped up its partnership with Snap, investing $500m in the owner of disappearing messaging app Snapchat’s initial public offering. The Comcast-owned television group bought shares at $17 apiece this week. With shares jumping 44 per cent in their first day of trading on Thursday, and rising a further 14 per cent on Friday, NBCU’s stake is now worth more than $820m. The stake is the […]

Souq.com, the Middle East’s largest online retailer, has announced the launch of a book store featuring more than six million books. In a move similar to Kindle books on global e-commerce giant Amazon, Souq.com’s Global Bookstore will make books more accessible to the region and supports the UAE government’s Year of Reading initiative, a statement said. The Global Bookstore features all book classifications including culture, children, family, […]

BEIJING, Activity in China’s services sector expanded at the slowest pace in four months in February, with new business still growing at a solid rate but increasing competition making it harder for companies to raise prices, a private survey showed. The findings echoed a similar softening in growth in China’s official services activity survey released on Wednesday, and contrasted with an unexpected pick-up in growth in its […]

BEIJING China’s leaders are expected to telegraph their willingness at this year’s annual parliament meeting to let reforms overtake policy stimulus as their priority amid concerns over financial instability in the world’s second-largest economy. Pro-growth policies, evident by a lending binge and increased government spending last year, have fueled worries among policymakers about high debt levels and an overheating housing market. Top leaders at the National People’s […]

Software-defined storage (SDS) startup Hedvig has closed $21.5 million in a Series C round of funding, bringing the total amount raised by the Santa Clara, California-based startup to $52 million. Investors in the round include Singapore-based EDBI and Hewlett Packard Enterprise’s (HPE) VC arm Hewlett Packard Pathfinder, Atlantic Bridge Ventures, Oman Technology Fund, True Ventures, and Vertex Ventures. Launched in 2015, Hedvig provides SDS for enterprises building […]

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