Ajman / Emirates Business Ajman Free Zone (AFZ) was a main sponsor of the fifth edition of the UAE-India Economic Forum held at the Waldorf Astoria, DIFC. Abdullah Ahmed Al Saleh, Undersecretary for Foreign Trade & Industry, Minister of Economy was guest of honour at the event. The well-attended event brought 500 delegates from India, the UAE and other key ...

Bloomberg India’s exit from RCEP regional trade talks appeared to leave China and Japan at odds over whether to press ahead with the remaining members, or to try to find a workaround that includes PM Narendra Modi’s government. India announced it was withdrawing from the China-backed Regional Comprehensive Economic Partnership (RCEP), citing the deal’s potential impact on the livelihoods of ...

Bloomberg India won’t back down from collecting $13 billion of past dues from debt-laden telecom carriers because the industry is not under stress, a government official with knowledge of the matter said, a move that could deepen Bharti Airtel Ltd and Vodafone Idea Ltd’s financial woes. India expects the carriers to pay up within 90 days as ordered by the ...

Bloomberg Beijing is getting ready for another gray winter after China eased air quality targets, signalling the government is focusing on bolstering slowing growth at the expense of cleaner air. In September, the government eased its target for a key air quality indicator in northern China, including industrial areas surrounding the capital. It is seeking a 4% drop in concentrations ...

Bloomberg Vietnam will fine Volkswagen AG’s local distributor and an importer for showcasing a car with a navigation app reflecting Chinese territorial claims rejected by Hanoi. VW Vietnam Auto Co faces a penalty of 20 million to 40 million dong ($860-$1,724), while World Auto Co will be fined 40 million-60 million dong and suspended from operating for six to nine ...

Bloomberg India’s debt-burdened companies could get kicked out of MSCI Inc’s benchmark index later this week. Highly indebted companies including Vodafone Idea Ltd, Indiabulls Housing Finance Ltd and Glenmark Pharmaceuticals Ltd are likely to be removed from the MSCI India Index, according to brokers. Most of these companies have seen a sharp erosion in their market values in the wake ...

Bloomberg Business travellers and tourists are avoiding New Delhi, as air pollution in India’s capital reached record levels, travel agents said. Booking inquiries for hotels and flights to New Delhi have slumped since the Hindu festival of Diwali on October 27, said Sharat Dhall, chief operating officer of the business-to-consumer segment at Yatra Online Inc. Bursting of firecrackers as part ...

Bloomberg Tata Power Co. Ltd., in collaboration with the Rockefeller Foundation, plans to develop 10,000 microgrids in India to boost access to affordable and reliable electricity to homes and enterprises across the nation’s vast rural areas. Tata Power will set up a new unit, TP Renewable Microgrid Ltd., to build the microgrids through 2026 that will serve nearly 5 million ...

Bloomberg Brexit may have sown chaos in UK politics, but at least one private equity firm is enthusiastic about the potential it creates for deals. “We see Brexit as a huge opportunity for deals and are getting very excited about investments in the UK,” said Dan Zilberman, head of Europe at Warburg Pincus. “However, a deal bonanza is contingent on ...

Bloomberg A standoff between Italy and ArcelorMittal over the future of the European Union’s biggest steel mill escalated, after the country’s economic development minister lashed out at the company. “We won’t allow ArcelorMittal to blackmail the government by threatening over 5,000 job cuts,” economic development minister Stefano Patuanelli wrote in a Facebook post. “Commitments should be upheld.” ArcelorMittal started legal ...