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29 December 2016 Jeddah – The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IDB) Group, has convened a US$ 45 million Murabaha financing agreement with the Islamic Republic of Mauritania represented by the Ministry of Economic and Finance and the Mauritanian Electricity Company (SOMELEC), as an executing agency. The purpose of the agreement comes within the Financing Plan of Mauritania’s electricity needs […]

Dubai Chamber of Commerce and Industry has announced that it will launch five new initiatives in 2017 to boost start-ups and entrepreneurs. No details about the new schemes were revealed but a senior Chamber official said in comments published by news agency WAM that efforts to foster innovation and develop Dubai’s entrepreneurial ecosystem will remain a major priority. “With the UAE’s focus on instilling a spirit of […]

Under the five-year contract, Bee’ah will provide integrated waste management services to Dubai Refreshments – the bottling company of Pepsi in Dubai Sharjah, UAE, 29 December 2016 Bee’ah, the leading integrated environment and waste management company in the UAE, has been awarded a five-year contract by Dubai Refreshments (DRC) – the publicly traded distributor of Pepsi in Dubai. As Bee’ah’s first Food & Beverages (F&B) commercial contract, […]

MOSCOW Russian President Vladimir Putin and Iran’s President Hassan Rouhani agreed in a telephone conversation on Saturday to continue their close coordination in trying to end the Syria crisis, the Kremlin said in a statement. The two men agreed on the importance of a new ceasefire agreement in Syria brokered by Russia and Turkey and plans for peace talks in the Kazakh capital Astana, the Kremlin said. […]

Photo The Russian ambassador to the United Nations, Vitaly I. Churkin, voted Saturday in favor of a resolution encouraging the new cease-fire in Syria. Credit Jason Szenes/European Pressphoto Agency BEIRUT, Lebanon — The United Nations Security Council on Saturday unanimously endorsed a resolution encouraging a new cease-fire in the war in Syria, adding international support for an agreement brokered by Russia and Turkey that has been in […]

By Steve Scherer | ROME ROME Italy will seek to deport more migrants who have no right to be in the country and will open new detention centres to hold them before their expulsion, according to a written directive and a ministry source. Police chief Franco Gabrielli sent a two-page directive to stations across the country on Friday ordering them to increase efforts to identify and deport […]

By Mohamed Abdellah | CAIRO CAIRO An Egyptian appeals court on Saturday upheld an agreement to give control of two islands in the Red Sea to Saudi Arabia, providing a boost for the government in a case that has prompted rare street protests. The territorial deal, announced in April, caused public uproar among many Egyptians who said the uninhabited islands of Tiran and Sanafir belonged to their […]

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Globalization, the path that the world economy has largely followed for decades, took some hefty blows in 2016. The election of Donald Trump as U.S. president and Britain’s decision to leave the European Union have raised questions over the future of tariff-free trade and companies’ freedom to move production to lower-cost countries. Borders are back in vogue. Economic nationalism is paying political dividends. “We […]

Newly formed alliance to play key role in enhancing innovative leadership and provide essential support for emirate’s efforts to maintain global competitiveness December 29, 2016  Sharjah Tatweer Forum and Sharjah eGovernment have recently signed a new Memorandum of Understanding (MoU) signalling the start of a strategic new partnership aimed towards further promoting the Sharjah Leadership Program (SLP), an initiative aimed towards developing leaders who are well informed […]

TOKYO Japan has approached China and South Korea about holding a trilateral summit in Tokyo in February aimed at deepening cooperation on such issues as a free trade deal, the environment and counter-terrorism, Kyodo news agency reported on Saturday. Disagreements over North Korea and historical issues have long dogged relations between the three Asian powers, though they have held several such trilateral meetings since 2008, most recently […]

BEIRUT Syrian rebel groups said on Saturday they would consider a ceasefire deal brokered by Russia and Turkey “null and void” if the Damascus government’s forces and their allies continued to violate it. Russia, which supports Syrian President Bashar al-Assad, has urged the United Nations to give its blessing to the fragile ceasefire, the third truce this year seeking to end nearly six years of war in […]

Market intelligence and networking platform builds momentum as it gathers senior industry decision-makers in third outing. Dubai 29 December,2016 MAZ Chartered Accountants, the region’s leading audit, taxation, financial and management consultancy has held its 3rd MAZ Annual Seminar. The Seminar’s third iteration built on previous years’ success to curate a powerful platform where professionals accessed industry intelligence, developed contacts, improved professional networks and kept pace with a […]

And there is a red, or more conservative, Israel that thought the secretary of state was delusional and insulting, divorced from the harsh reality of the only real democracy in the Middle East struggling to preserve itself in a hostile neighborhood. Continue reading the main story Just as in the United States, many Israelis cling to their own facts, retreat to their own media outlets, advance their […]

BEIJING There is no space for Hong Kong independence in the “one country, two systems” agreement under which Beijing governs the former British colony, but there can be tolerance for differences in their systems, a senior Chinese official said. Chinese leaders are increasingly concerned about a fledgling independence movement in Hong Kong, which returned to mainland rule in 1997 with a promise of autonomy known as “one […]

The events of the past few days have renewed a longstanding debate over whether American Jews must always stand with the Israeli government, and under what circumstances should they criticize a friend. Continue reading the main story “There’s a very clear values clash going on,” said Rabbi Jill Jacobs, the executive director of T’ruah, a rabbinical human rights organization. “On the one hand, we have a small […]

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By Sam Forgione | NEW YORK NEW YORK The U.S. dollar slipped on Friday but notched its fourth straight year of gains against a basket of major currencies. The dollar index .DXY, which measures the greenback against a basket of six major rivals, gained about 3.7 percent for the year. The index rose about 7.1 percent during the fourth quarter, more than half that gain coming since […]

KINSHASA Congolese President Joseph Kabila will step down after elections held before the end of 2017, under a deal struck by political parties on Friday, according to a lead mediator from the Catholic Church. Under the deal, Kabila will be unable to change the constitution to extend his mandate and run for a third term, Marcel Utembi, president of the Catholic Bishops’ Conference in the Democratic Republic […]

Oil prices were on track for their biggest annual gain since 2009 after the OPEC grouping and other major producers agreed to cut crude output to reduce a global supply overhang that has depressed prices for two years. US benchmark West Texas Intermediate (WTI) crude futures slipped 12 cents to $53.62 a barrel by 1400 GMT on Friday, while Brent front-month March crude futures were down 19 […]

BEIRUT A spokesman for the Syrian Islamist militia Jabhat Fateh al-Sham, formerly called the Nusra Front, criticised a nationwide Turkish- and Russian-backed ceasefire in Syria on Friday, saying the political solution under this agreement would “reproduce the criminal regime”. The group, which changed its name and announced in July that it was severing ties with al Qaeda, condemned the deal for not mentioning President Bashar al-Assad’s fate. […]

Photo Ruined buildings in Douma, Syria, a rebel-held area near Damascus, on Friday. Credit Bassam Khabieh/Reuters BEIRUT, Lebanon — A cease-fire between the Syrian government and rebel groups tentatively took hold across the country on Friday, with only scattered reports of clashes, shelling and airstrikes. The truce, brokered primarily by Russia and Turkey, who pledged to guarantee the compliance of the government and the opposition, was announced […]

Trade between the UAE and China is expected to increase to $60 billion by the end of this year, up from $54.8 billion in 2015, according to the Dubai Economic Council. It said the UAE is now China’s second largest trading partner in the Middle East and the region’s biggest market for Chinese goods, news agency WAM reported.  China, whose trade with the UAE stood at only […]

FRANKFURT China’s Midea said it will complete its takeover of German robotics maker Kuka in the first half of January after the United States authorities gave the deal a green light. Midea, which launched a 4.5 billion euro ($5 billion) offer for Kuka in May, said Germany’s markets regulator had approved the settlement of the transaction, allowing it to control a 94.55 percent voting stake in Kuka […]

Photo John Kerry speaking at the State Department on Wednesday. Credit Zach Gibson/Getty Images In a speech this week laying out the Obama administration’s parameters for a final peace agreement between Israel and Palestine, Secretary of State John Kerry stated what has been obvious to most observers for many years: that Israel’s construction of Jewish settlements on occupied Palestinian land has all but destroyed the two-state solution. […]

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