News

Bloomberg Ride-hailing startup Ola has selected banks including Citigroup Inc and Kotak Mahindra Bank Ltd to manage its Mumbai initial public offering that could raise about $1 billion, according to people familiar with the matter. The company, backed by SoftBank Group Corp and Tiger Global Management, has also picked Morgan Stanley for the listing, said the people, who asked not ...

Bloomberg NetEase Inc is in final negotiations to poach Yakuza franchise creator Toshihiro Nagoshi from Sega, a sign of how Chinese games companies are expanding beyond their home turf during a government-led crackdown. The hire from Sega Sammy Holdings Inc would mark the biggest coup in a contest between NetEase and close rival Tencent Holdings Ltd to scoop up video ...

Bloomberg Sri Lanka’s volatile dollar bonds are set to jump the most in Asia this month after its central bank unexpectedly raised interest rates earlier in August in a move that may help boost the country’s foreign exchange reserves. But default concerns remain for the notes, with S&P Global Ratings last week cutting the outlook on its junk CCC+ ratings ...

Bloomberg Koo, India’s alternative to Twitter Inc, has surged past 10 million users to narrow the gap with the US microblogging site after its repeated clashes with the local government over the past few months. The 16-month-old app, which allows users to send tweet-like posts in English and seven Indian languages such as Hindi and Kannada, has seen about 85% ...

ABU DHABI / WAM The National Central Cooling Company PJSC (Tabreed) has announced the acquisition of an additional 50 percent stake in the exclusive 80,000 refrigeration ton district cooling scheme supplying Al Maryah Island in Abu Dhabi, including its major entertainment, hospitality, retail, commercial and residential developments. The acquisition is from joint venture partner, Mubadala Infrastructure Partners (MIP), bringing Tabreed’s ...

MOSCOW / WAM Dr Mohammed Ahmed Al Jaber, UAE Ambassador to Russia, has highlighted the importance of cooperation between the UAE and Russia in maintaining international security. In his statement to the Russian News Agency (TASS), Al Jaber said, “We are confident that the strategic cooperation and mutual trust between our leaderships will enable our countries to respond to threats ...

NEW DELHI / WAM The Trade Promotion Council of India on Sunday held a webinar on “India-UAE: Trade and Investment Opportunities in Agri and Food Processing.” The webinar aimed at briefing the Indian stakeholders on trade, investment and collaboration opportunities specifically in the food, beverages, food processing and packaging technology sectors in the UAE. The webinar highlighted how India and ...

Abu Dhabi / WAM The UAE has the most competitive industrial sector in the Arab world, according to the latest UN global rankings published. The country has reached 30th in the world in the 2021 United Nation’s Industrial Organisation’s (Unido) Competitive Industrial Performance Index (CIP) report which tracks 152 countries. The UAE has climbed five places since 2020 and nine ...

Abu Dhabi / WAM Al Seer Marine, an Abu Dhabi-based company fully owned by International Holding Company (IHC), listed on Sunday under the ticker ASM on the Abu Dhabi Securities Exchange (ADX) Second Market. Founded in 2002, Al Seer Marine is a leader in marine services in the region, with total assets of AED3.98 billion as at the end of ...

DUBAI / WAM Dubai Electricity and Water Authority (Dewa) has installed 15 electric vehicle (EV) Green Charger stations at Expo 2020 Dubai’s pavilions: Opportunity; Sustainability and Mobility. The Green Chargers will serve the electric vehicles visitors to the Expo. Dewa has installed five Green Chargers at each pavilion, enough to charge 30 electric vehicles simultaneously, in addition to two stations ...