News

Abu Dhabi / WAM Abu Dhabi Ports on Sunday revealed robust operational performance with significant volume growth in the first half of 2019. The company, which operates ports and terminals across the UAE, as well as Khalifa Industrial Zone Abu Dhabi (Kizad), said its success was driven in part by concession agreements signed with leading maritime firms, such as Mediterranean Shipping ...

Dubai / WAM In celebration of the Kingdom of Saudi Arabia’s 89th National Day on September 23, Dubai will light up its skies with spectacular fireworks displays across many of the city’s vibrant destinations to mark the joyous occasion. Located at the tip of Palm Jumeirah across from hotel resort Atlantis, The Palm lies The Pointe, a scenic, retail and ...

Bloomberg Kenya plans to invite bids next month for the development of a $1.1 billion crude pipeline as the East African nation prepares to start exports via the conduit in three years. Construction of the approximately 820-kilometer (509-mile) pipeline from the oil fields in South Lokichar to the Indian Ocean port of Lamu may start in the second half of ...

Bloomberg Prime Minister Narendra Modi arrived in the US a day after delivering a $20 billion tax-cut stimulus for companies, which strengthens his pitch to American chief executives about the ease of doing business in India. His government cut corporate taxes to rival some of the lowest in Asia, helping India compete with the likes of Vietnam and Indonesia to ...

Bloomberg Reliance Capital Ltd’s downgrade to default grade at Care Ratings Ltd places the debt of embattled tycoon Anil Ambani’s conglomerate at risk, reigniting India’s credit scare. Mumbai-based Care cut Reliance Capital’s bonds by eight notches to D from BB, citing a delay in coupon payments on several of the lender’s non-convertible debentures, the rating company said in a statement. ...

Bloomberg In a quick change of events, the Montana Farm Bureau Federation said a planned visit by Chinese officials to its state’s farms is cancelled. The group was told by the Chinese embassy that the delegation “had an adjustment of their agenda” and they’re headed back to China earlier than planned, Rebecca Colnar, a spokeswoman for the Montana bureau, said. ...

Bloomberg Wildfires, smoke and drought are inflicting an increasingly painful toll on Indonesian agriculture, hurting everything from oil palm plantations to rubber trees and rice fields. Raging forest fires in Sumatra and Borneo may curb supplies of palm oil and rubber, while a longer than usual dry season in Java has wilted some of the country’s rice crop, which is ...

Bloomberg There’s nothing quite like a massive coal rail to demonstrate China’s loyalty to the dirtiest of fossil fuels. Almost a decade in the making, the nearly $30 billion Haoji Railway will start around the end of this month and eventually haul as much as 200 million tons from key producing regions in the north to consumers in the south. ...

Bloomberg The Port of Dover — through which a sixth of the UK’s trade in goods flows — can cope with any disruption thrown up by a no-deal Brexit, Chief Executive Officer Doug Bannister said, suggesting some of the direr predictions of chaos are wide of the mark. “The Port of Dover is 100 percent ready,” he said in an ...

Bloomberg A global effort to remove gastrointestinal medication tainted with a potential carcinogen from the market gained momentum, as one of India’s largest generic drugmakers halted shipments to customers worldwide and Italy ordered a recall of some medicine that originated in India. Dr Reddy’s Laboratories Ltd said it is suspending all distribution of its ranitidine, the generic version of the ...