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Abu Dhabi / Emirates Business Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for corporates and individuals, has achieved its target for the UAE Government Accelerators program, by employing 10 Emirati talents during the first 100 days of the programme. Upon recruitment, ADNIC in coordination with Emirates Institute of Banking and Financial Studies, enrolled …

Bloomberg Saudi Arabia and Russia said they favour prolonging oil-output cuts by global producers through the end of the first quarter of 2018, setting a firmer timeframe for a likely extension of the curbs into next year. Crude prices jumped. Extending the curbs at already agreed-upon volumes is needed to reach the goal of reducing global inventories to the 5-year …

SINGAPORE / Reuters The commercial start-up of Vietnam’s new $7.5 billion Nghi Son oil refinery will be delayed to 2018, from an initial expected start-up in the third quarter of this year, according to a notice on a government website. The 200,000 barrels-per-day (bpd) oil refinery is now planning to start commercial operations in the first quarter of 2018, according …

Bloomberg Just six months ago, Indian companies and policy makers were grappling with a record-low exchange rate. Now, the rupee’s unexpected rebound is causing fresh problems. While the currency’s 5.9 percent jump against the dollar so far this year will help tamp down inflation, it’s posing a challenge for the earnings of India’s exporters. For information technology and drug companies …

Bloomberg The world’s second-largest economy dialed back a gear as authorities crack down on the nation’s swelling financial leverage. Industrial output rose 6.5% last month from a year earlier, compared to 7% seen by economists and 7.6% in March. Retail sales rose 10.7% versus 10.8% seen by analysts. Fixed-asset investment excluding rural areas expanded 8.9% for first 4 months, compared …

Bloomberg Singapore home sales more than doubled in April from a year earlier as homebuyer sentiment rallied after the government rolled back some property curbs following a three-year slide in prices. Developers sold 1,555 units in April, compared with 750 units in the same period last year, according to data released on Monday by the Urban Redevelopment Authority. A total …

Bloomberg UK Prime Minister Theresa May could get a taste of what’s in store for Britain when the European Union’s top court spells out how the EU should ratify a free trade pact with Singapore, the tiger economy some want post-Brexit Britain to emulate. Judges at the EU Court of Justice will say on May 16 whether the Singapore deal …

Bloomberg Alphabet Inc. is working with Lyft Inc. on a plan to test autonomous cars on the road, escalating a fight with Uber Technologies Inc. by partnering with its main rival in the US. Waymo, an automotive business owned by Google’s parent company, is currently holding public trials on its own using Chrysler minivans equipped with its technology in Phoenix. …

Bloomberg Aspen Pharmacare Holdings Ltd. faces a European Union antitrust probe for ramping up the price of cancer drugs as the EU joins a global crackdown on the soaring cost of life-saving generic medicines. “When the price of a drug suddenly goes up by several hundred percent, this is something the commission may look at,” EU Competition Commissioner Margrethe Vestager …

Bloomberg Thermo Fisher Scientific Inc. agreed to buy Dutch drug-ingredients maker Patheon NV for $5.2 billion, extending the acquisition binge that helped turn it into one of the world’s biggest manufacturers of diagnostic and testing equipment. Thermo Fisher will pay $35 a share in cash, 35 percent above Patheon’s closing price, before Bloomberg News reported that the companies were in …