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Abu Dhabi – UAE, January 17, 2017 The Ministry of Climate Change and Environment (MoCCAE) signed a Memorandum of Understanding with the Food Security Centre – Abu Dhabi on the promotion of food security in the United Arab Emirates. His Excellency Dr Thani Ahmed Al Zeyoudi, Minister of Climate Change and Environment, and HE Mohammed Ahmed Al Bawardi, Chairman of Food Security Center, Abu Dhabi, signed the […]

Saudi Arabian budget carrier flynas is to buy 80 Airbus A320neo narrow body jets in a deal worth $8.6 billion that includes upgrading an earlier order, it said on Monday. The 80 A320neo order is valued at $8.6 billion, flynas Chairman Ayed Al Jeaid said at press conference in Riyadh on Monday. The order is for 60 A320neos and an upgrade of an existing order for 20 […]

The US has sued Qualcomm over the way it licenses its technology for mobile phones, hitting at the business that generates most of the US chip company’s profits. The case follows an investigation begun in 2014, but which was accelerated in recent weeks as the Federal Trade Commission moved towards filing a high-profile antitrust case just days before a new administration takes control in Washington. Qualcomm’s shares […]

TEHRAN — Even if President-elect Donald J. Trump would want to, there is no chance of renegotiating the 2015 nuclear agreement with Iran, the country’s president, Hassan Rouhani, said on Tuesday. “Mr. Trump says things like that he is not happy with the nuclear deal, or he calls it the worst agreement,” Mr. Rouhani said. “These are more like slogans. I consider it unlikely that anything will […]

A senior member of Donald Trump’s team insisted that the president-elect was committed to globalisation, open trade and Nato despite recent comments that unsettled America’s allies. Anthony Scaramucci, Mr Trump’s newly appointed public liaison official, told the World Economic Forum in Davos on Tuesday that the European and American elite had misunderstood Mr Trump and would change their views when he took office. In particular, he argued […]

DUBAI Iranian President Hassan Rouhani said on Tuesday U.S. President-elect Trump cannot unilaterally cancel the nuclear deal Tehran signed with world powers including Washington and that talk of renegotiating it was “meaningless”. Trump, who will take office on Friday, has called the July 2015 agreement “the worst deal ever negotiated”. He has threatened to either scrap the agreement or seek a better deal. Under Iran’s agreement with […]

LONDON British Prime Minister Theresa May said on Tuesday she would put the final agreement on Britain’s exit from the European Union to a vote in parliament. May said there would have to compromises in the negotiations but it was important to provide “as much certainty as possible” and there would be proper scrutiny. “When it comes to parliament, there is one other way I would like […]

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By Henning Gloystein | SINGAPORE SINGAPORE Oil dipped on Tuesday on lingering concerns over global fuel oversupply due to rising U.S. output and doubts that OPEC and other producers would adhere to commitments to cut output in an effort to balance markets and prop up prices. Brent crude futures, the international benchmark for oil prices, were at $55.55 per barrel at 0643 GMT, down 31 cents from […]

ABU DHABI // The UAE is positioning itself as a “centre of gravity” for energy, officials said at the opening of Abu Dhabi Sustainability Week on Monday. Tens of thousands of people from more than 170 countries were welcomed at the event, which is the first major international gathering in 2017 aimed at mitigating climate change. Issues such as growing energy and water needs, challenges of urbanisation […]

Asset price movements in the past few weeks have pointed both to the upside and a major risk for the global economy and markets under a Trump administration. Enthusiasm over higher US growth powering the global economy has been tempered at times by worries that certain elements of the president-elect’s “America First” approach could undermine longstanding trading relationships, opening up the risk of economic and financial disruptions. […]

LONDON (Thomson Reuters Foundation) – Donald Trump’s administration, heavy with fossil fuel industry backers, could cause major damage to efforts to deal with climate change through measures such as cutting access to satellite data for weather forecasting and climate research, scientists warned Monday. But the president-elect may prove more pragmatic than some of his Republican counter-parts on the politically charged issue of climate change, particularly if a […]

By Jessica DiNapoli and Lisa Richwine American Apparel LLC started to lay off staff on Monday after Canada’s Gildan Activewear Inc (GIL.TO) withdrew its initial plan to buy some of the bankrupt U.S. fashion retailer’s manufacturing operations, company employees said. Gildan won the rights to American Apparel’s brand with an $88 million bid in a bankruptcy auction last week. It had previously indicated it would assume some […]

OPEC probably won’t need to extend a deal it reached with other crude producers to cut output, given compliance with the reductions and the outlook for an increase in global demand, Saudi Energy Minister Khalid Al-Falih said. The re-balancing of the oil market should take place by the end of the first half of the year, Al-Falih told reporters during an energy event in the United Arab […]

By Nigel Stephenson | LONDON LONDON Investors sold sterling and stocks on Monday, seeking shelter in gold and the Japanese yen as uncertainty over Britain’s departure from the European Union and the policies of U.S. President-elect Donald Trump curbed appetite for risky assets. U.S. markets were closed for the Martin Luther King Day holiday, crimping market activity and potentially exacerbating price moves. The dollar .DXY rose, except […]

ABU DHABI // The country is working on a system to monitor and record its greenhouse gas emissions, says the new director general of the Global Green Growth Institute. Frank Rijsberman, who was on a two-day visit to the UAE for the World Future Energy Summit, said that although there was room for improvement, the UAE had become a leader in the renewable energy sector. “We’ve been […]

He was the president who took out Osama bin Laden but was blindsided by Isis; who made Asia his priority but saw his trade deal for the region stymied; who built bridges with once sworn enemies in Cuba and Iran but who sparred with allies in Israel and Saudi Arabia. The mixed and sometimes messy foreign policy legacy of Barack Obama includes a climate change agreement and […]

Traders are anticipating big swings in the pound, ratcheting up the cost of hedging against sterling volatility in preparation for fast-moving developments in the UK’s ever-more fractious relationship with the EU. Theresa May’s Brexit speech that she will deliver on Tuesday has already caused big shifts in the pound, following weekend media reports about its likely content. However, traders are now weighing up the impact of Donald […]

Saudi Arabia will adhere strictly to its commitment to cut output under the global agreement among oil producers, its energy minister said on Monday, expressing confidence that OPEC’s plan to prop up prices would work. Saudi Energy Minister Khalid al-Falih, speaking at an industry event in Abu Dhabi, also said he was encouraged by signs of commitments by other participants in the deal since it took effect […]

By Alessandra Prentice | KIEV KIEV Outgoing U.S. Vice President Joe Biden called on Monday for sanctions on Russia to stay, urging the world to stand up to its “coercion and aggression” after President-elect Donald Trump mooted ending the measures under a possible deal with Moscow. Speaking on a swan song visit to Kiev, Biden said the G7 nations and European Union should lift the sanctions only […]

MENA on-demand streaming service Starz Play has signed an agreement with 20th Century Fox Television Distribution to provide its movies and series to subscribers in the region. The agreement adds a large number of action and animation movies along with award-winning TV series to the Starz Play content library. The deal will see popular Fox movies like The Hills Have Eyes 2 and action-comedy The Heat available […]

16 January 2017 Oman Insurance Company (OIC), one of the UAE’s leading insurers, has become the first insurer in the Middle East to establish a corporate alliance with the Association of Certified Fraud Examiners (ACFE). The ACFE is recognized as the world’s largest and premier anti-fraud organization and has partnerships with numerous Fortune Global 500 organizations. Its role is to support the implementation of anti-fraud best practices […]

DUBAI/TEHRAN: Iran will not renegotiate its nuclear agreement with world powers, even if it faces new US sanctions after Donald Trump becomes president, Deputy Foreign Minister Abbas Araghchi said on Sunday.US “hostility” to Iran is growing day by day despite Tehran’s nuclear deal, the senior Iranian official said, ahead of the first anniversary of the historic accord.“The United States has done whatever it can do (to) slow […]

Delta Air Lines CEO has again raised the prospect that President-elect Donald Trump’s administration would intervene in the US carriers’ dispute with Gulf airlines. Ed Bastian, speaking to investment analysts during the carrier’s recent quarterly earnings call, said that officials from the US ‘big three’ – American, United and Delta – have already met with officials from Trump’s transition team to discuss current industry issues, including the […]

By Richard Balmforth | PARIS PARIS Former Prime Minister Manuel Valls, long tipped to win the left-wing ticket for France’s presidential election this spring, trailed his rivals after a debate on Sunday where his immigration policies came under fire. In the televised debate, Valls faced six other contenders ahead of a Socialist primary starting on Jan. 22 to pick a candidate who can keep next May’s presidential […]

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