Shaikh Mohammed amends 2016 law on Dubai Data Establishment

Dubai: His Highness Shaikh Mohammed Bin Rashid Al Maktoum, vice president and prime minister of the UAE and ruler of Dubai, amended a 2016 law on the establishment of Dubai Data Establishment. Shaikh Mohammed issued Law No. 2 of 2020, which partially amends Law No. 2 of 2016. Under the new law, the director general […]

US-China trade deal: Treasury removes currency manipulator label

Washington: The United States on Monday removed the currency manipulator label it imposed on China last summer, in a sign of easing tensions between the two economic powers after nearly two years of conflict. Just two days before President Donald Trump is set to sign a “phase one” trade agreement with China, the US Treasury […]

Emirates Global Aluminium explores smelter in Indonesia

Dubai: Emirates Global Aluminium (EGA) and PT Indonesia Asahan Aluminium (INALUM) on Sunday signed a Memorandum of Understanding targeting the licencing of UAE-developed EGA technology to the Indonesian company, and co-operation on the upgrade of an existing INALUM smelter and the development of a new aluminium smelter in Indonesia. The MoU was signed by Abdulla […]

Masdar acquires 40% stake in Australian waste-to-energy facility

Abu Dhabi: Masdar on Tuesday announced its first investment in Australia after acquiring a 40 per cent stake in the country’s second utility-scale waste-to-energy facility (WTE). Under the terms of the investment, Masdar and leading Abu Dhabi advisory and development firm Tribe Infrastructure Group have invested in the waste-to-energy project via their Abu Dhabi Global […]

Gold falls again as demand for havens wanes

London: Gold sagged again as the soon-to-be signed Sino-American trade deal, release of decent monthly economic figures from China, and steady easing of tensions in the Middle East all combined to undermine the case for havens just as US equities romped to records. Bullion fell after the US lifted its designation of China as a […]

China to ramp up US car, aircraft, energy purchases in trade deal — source

Washington: China has pledged to buy almost $80 billion (Dh293.6 billion) of additional manufactured goods from the United States over the next two years as part of a trade war truce, according to a source, likely giving a much-needed boost for plane maker Boeing. Under the terms of the trade deal to be signed on […]

UAE’s Adnoc aims for 25% cut in emissions by 2030

Abu Dhabi: The Abu Dhabi National Oil Company (Adnoc) on Monday announced plans to reduce its greenhouse gas emissions by 25 per cent over the next 10 years as part of a comprehensive sustainability agenda. Adnoc currently captures most of its emissions through its Al Reyadah facility, which can capture 800,000 tonnes of carbon dioxide […]