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Study by IEA Connects 6.5 Million Deaths to Poor Air Quality Each Year

UAE News - 2 hours 35 min ago

International Energy Agency released a report on Monday that reveal air pollution is affecting public health majorly all around the globe. It is responsible for almost 6.5 million deaths every year, with "many of its root causes and cures" originating from the energy industry.

For the agency, it conducted such kind of air pollution study for the first time. It is a Paris based energy security group headed by Fatih Birol and is extending its mission further.

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Categories: UAE News

Harel Insurance in Talks to Buy Stake in Tamar Gas Field in Israel from Noble Energy

UAE News - 2 hours 39 min ago

Harel Insurance Investments and Financial Services of Israel said it is discussing a deal with Noble Energy to buy four percent in the Texas based energy company's Tamar natural gas fields.

The discovery of the presence of natural gas in the Tamar field was made by Noble Energy in January 2009. It is so far the biggest natural gas discovery by Noble Energy till now. It is estimated that the field has reserves of gas amounting to ten trillion cubic feet and its first production started in April 2013. Currently, it is the primary gas supply for Israel.

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Categories: UAE News

SA’s Small Business Minister Lindiwe Zulu Condemns the Incidence of Looting of Small Businesses in Tshwane

UAE News - 2 hours 43 min ago

Last week, several shops were looted in Tshwane, Gauteng Province, South Africa as the residents protested following the announcement of the African National Congress as Thoko Didiza to be their mayoral candidate. In the incident that resulted to violence and chaos, five people lost their lives within a week.

The incident was condemned by Small Business Development Minister Lindiwe Zulu on Sunday in "strongest possible terms".

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Categories: UAE News

UAE financial system not impacted by Brexit, says UAE Central Bank

UAE News - 6 hours 26 min ago

The Central Bank of the United Arab Emirates has said that the country's financial system is not much impact by the conditions following the UK's vote to leave the United Kingdom.

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Categories: UAE News

UAE records higher growth for coloured solar panel technology

UAE News - 6 hours 31 min ago

As global economies try to increase power generation from renewable sources, firms in the United Arab Emirates are increasing recording higher demand for new technologies including energy-efficient coloured solar panel technology.

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Categories: UAE News

The S&P Index Notes it’s Worst Day in Ten Months Following ‘Brexit’

UAE News - Sun, 06/26/2016 - 06:32

British exit from the European Union affected the stock markets worldwide with investors from Europe to Asia looking for ways to control losses in the middle of sliding equity prices. However, looking from a broader angle the battered look appears more like a dot for the investors in the U.S.

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Categories: UAE News

IMF Says Mozambique’s Economic Growth to Slow Down in 2016 Due to High Inflation and Government Debt

UAE News - Sun, 06/26/2016 - 04:05

Under pressure for an international audit of Mozambique's financial conditions, on Friday the International Monetary Fund (IMF) said, the economy of the country in southern Africa will most probably slow down to 4.5 percent in
2016. In 2015 it grew 6.6 percent. The reason for the slowdown is rapidly growing inflation and mounting government debt.

Michel Lazare, who headed the team from the IMF which visited Mozambique, said the detection of $1 billion plus earlier undisclosed government debt is sure to add to the pressure the economy is already facing.

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Categories: UAE News

President Jacob Zuma Officially Launched Ncora Bulk Water Project on Friday

UAE News - Sun, 06/26/2016 - 03:54

On Friday, President Jacob Zuma officially launched the Ncora Bulk Water Project caters for water needs of the communities residing in the area.

The President said, the government remains committed to ensure that water reaches areas located in the Chris Hani District Municipality and several other areas within the country.

Till now, R220 million has been spent on the water project and by the time it is completed, the expenses of the project is expected to reach almost R354 million.

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Categories: UAE News

Costco’s New Visa Card Transition not a Smooth Changeover

UAE News - Fri, 06/24/2016 - 08:38

Costco Wholesale Corp has ended its long sixteen years relationship with American Express cards and has found a new partner in Citi GroupsVisa, but the initial transition was not really smooth sailing.

The retailer's Facebook page was flooded with hundreds of complaints from Costco customers about the new credit card and most of them said, they have faced long waiting times and have gone through troubles in activating their accounts.

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Categories: UAE News

Yuengling Agrees to Pay $2.8M fine and to Improve Pollution Control

UAE News - Fri, 06/24/2016 - 08:37

The regulators accused Pennsylvania based beer company Yuengling of violating the Clear Water Act for dumping a high level of industrial waste into a municipal wastewater treatment facility. The company has agreed to pay $2.8 million as fine to settle charges. Additionally, it will also install new pollution control measures in two of its breweries.

On top of that, as part of the settlement Youngling will also spend $7 million to improve environmental systems at the breweries close to Pottsville, Pennsylvania.

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Categories: UAE News

GMO Labeling Could become Mandatory Nationwide

UAE News - Fri, 06/24/2016 - 08:36

The Vermont law that requires labeling on foods that contain genetically modified ingredients would have come into effect from next week. Prior to that date, on Thursday, the U.S. Senate agriculture leaders a deal which puts that power from states' control to a national system which makes it mandatory for GM food products to be disclosed nationwide.

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Categories: UAE News

Fed’s Robert Kaplan Wants to Show More Patience on Interest Rate Hikes

UAE News - Fri, 06/24/2016 - 08:34

Dallas Fed President Robert Kaplan says looking at the situations right now; he is not advocating increase in the key interest rates currently. On Thursday he said, instead of that he wants to "show more patience" and wait for the further information about global situations, mostly the result of the 'Brexit' vote as well as some improvement in the U.S. economy.

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Categories: UAE News

Abu Dhabi’s private hospitals record improvements

UAE News - Fri, 06/24/2016 - 03:23

Experts have said that the healthcare infrastructure in the United Arab Emirates have been improving recent years and private hospitals in the capital, Abu Dhabi like the Burjeel Hospital are driving this growth with new equipment and international talent.

Burjeel Hospital began its operations in 2012 and has since emerged as Abu Dhabi's largest private tertiary hospital. Clancey Po, the chief executive at Burjeel Hospital, said that improving medical facilities means that there is less likelihood of UAE residents travelling abroad for treatment.

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Categories: UAE News

GCC planning to invest $100bn in airport projects in the region

UAE News - Fri, 06/24/2016 - 03:20

A leading international airport consultancy indicated that the GCC nations are planning to invest around $100 billion in airport expansion and construction projects in countries including Bahrain, Saudi Arabia, Kuwait, Oman, Qatar, and UAE.

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Categories: UAE News

Mortgage Service Providers get Blasting from CFPB for Failed Technology

UAE News - Thu, 06/23/2016 - 08:43

The Mortgage Service providers who still rely on outdated computers and technology got a blasting from the Consumer Financial Protection Bureau. The CFPB said that puts them in violation of the rules set by the agency.

A special supervision report on Wednesday issued by the CFPB focused mainly on mortgage servicers stated that the investigators have come across some mortgage services which are right now using "failed technology" that have already harmed some of the consumers.

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Categories: UAE News

Tencent Strengthens International Gaming Presence by Acquiring $8.6 Billion Majority Stake in Supercell

UAE News - Thu, 06/23/2016 - 08:39

China's largest gaming company Tencent Holdings Ltd. has acquired a majority stake worth $8.6 billion in Supercell, which is a Finnish gaming company.

Tencent bought the stake from the Japanese company SoftBank Group Corp. SoftBank Group is at present making an effort to shed its debt volume. Supercell is the company which is most popular for its game, Clash of Clans.

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Categories: UAE News

Weyerhaeuser Says ‘Log Shortage’ is the Reason Behind Mill Closure in Columbia Falls

UAE News - Thu, 06/23/2016 - 08:35

The Columbia Falls workers were surprised to hear that Weyerhaeuser, the international forests Products Company and the world's largest owner of timberlands is planning to shut down its lumber and plywood mills in the region this year by summer's end.

In a face to face meeting with its workers at 3pm, the company's Montana Resources Team Leader Tom Ray said, "It's a result of just a chronic log shortage that we've seen. With these closures, we will better re-align the log resources supply with the facilities that will continue to run."

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Categories: UAE News

Columbus Wins ‘Smart City’ Competition

UAE News - Wed, 06/22/2016 - 09:07

Leaving behind all its competitors Columbus, Ohio won the "smart city" competition held by the U.S. Department of Transportation. The city won $40 million of federal start-up funds which will help in the city's plan to incorporate innovative technology like driverless cars and smart sensors.

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Categories: UAE News

Boeing Says It Signed Sales Agreement with Iran Air

UAE News - Wed, 06/22/2016 - 09:03

Earlier reports said that Iran Air was buying some aircrafts from Boeing Co, which would mark the largest business deal between the Islamic Republic and America since the 1979.

On Tuesday, Chicago-based Boeing Co. said it has signed an agreement with Iran Air "expressing the airline's intent" to buy aircraft from the company.

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Categories: UAE News

New Research Finds Upper Middle Class have Rebounded more than Others in the U.S

UAE News - Wed, 06/22/2016 - 08:59

A series of data following the recession and housing bust that shook the country's economy supports the idea that only a small group of elite in the U. S., who mostly cover the top most one percent, have rebounded and is doing well.

However, large body of data hints that the economic expansion noted since the 2007-2009 financial crisis has given only a tiny percentage of the upper middle class making the income divide more between that top most quarter as well as the lower rung.

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Categories: UAE News

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