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ABU DHABI / WAM The Lebanese government is against any activities hostile to the Arabian Gulf countries, Lebanese Prime Minister Saad Hariri told the Emirates News Agency (WAM), in an exclusive interview. “I want to emphasise as head of the government [that] I refuse any form of Lebanese involvement in the conflicts around us. Moreover, I stress that the Lebanese ...

Dubai / WAM Dubai Cars and Automotive Zone’s (Ducamz’s), customs centre has announced that it processed 429,602 transactions and made 31 seizures in 2018, compared to 268,070 transactions and 14 seizures in the first half of 2019. Meanwhile, Dry Port customs centre carried out 812,529 transactions last year, with that number totaling 430,142 transactions in H1 this year. This came ...

ABU DHABI / WAM Thirty candidates have been announced as finalists for the Zayed Sustainability Prize 2020 on Monday. Addressing some of the world’s most pressing and core development challenges, and aligned to the UN Sustainable Development Goals (SDGs), 2030, the finalists of the Zayed Sustainability Prize are now vying to win up to ten awards, across five categories: Health, ...

Dubai / WAM A European trade delegation comprising of 39 decision-makers from the United Kingdom, Belgium, Greece, Hungary and Italy has visited Ras Al Khaimah to explore the potential of the emirate as a gateway to fast emerging economies in the Middle East. Ras Al Khaimah Economic Zone (Rakez), organised a special event for the multi-sector mission operating in the ...

Bloomberg Oyo Hotels and Homes is raising $1.5 billion from founder Ritesh Agarwal, SoftBank Group Corp and other investors as the India lodging startup expands into foreign markets such as the US and Europe. Agarwal, 25, will spend $700 million to buy new shares in the company as part of a previously reported $2 billion plan to triple his ownership ...

Bloomberg Taiwan’s exports registered an unexpected contraction in September as rising shipments to the US and Japan were not enough to offset a steep fall in trade with China. Overseas shipments from Taiwan fell 4.6% on year in September driven by weak international demand for metals, plastics and machinery, according to a statement from the Ministry of Finance. Economists had ...

Bloomberg China could be the panacea for an orange-juice industry grappling with sliding sales in developed markets, at least for low-cost producers not caught up in trade wars. Citrosuco fits that description. The Brazilian company produces twice as much as the entire Florida industry, at about a third of the cost. For decades, it has sold the commodity to well-known ...

Bloomberg The Japanese government cut its formula-based assessment of the economy to indicate that economic conditions were worsening in August, an outcome signaling a higher risk that Japan could be entering a recession. The coincident economic index fell 0.4 point to 99.3 in August, the Cabinet Office reported on Monday, compared with an economists’ estimate of 99.4. The leading economic ...

Bloomberg This year’s railroad slump is getting worse as a slowdown in manufacturing threatens broader weakness in the US economy. There’s no bottom in sight as the decline in carloads for large US railroads widened to 5.5% in the third quarter, the biggest drop in three years, according to weekly reports from the Association of American Railroads. Shipments are down ...

Bloomberg General Electric (GE) Co took a bold step to cut the debt hampering Chief Executive Officer Larry Culp’s effort to turn around the struggling manufacturer, freezing pension benefits for about 20,000 employees in the US. The company also plans to pre-fund $4 billion to $5 billion of its estimated requirements for 2021 and 2022, according to a statement on ...