News

RAS AL KHAIMAH / WAM Ras Al Khaimah has had its ‘A’ rating with a stable outlook affirmed by global agency Fitch Ratings. Fitch has maintained Ras Al Khaimah’s ‘A’ rating for more than 10 years and the agency highlighted the Emirate’s low and declining Government debt burden and high GDP per capita as key ratings drivers. Fitch expects “the ...

Dubai / WAM The Dubai Electricity and Water Authority (Dewa) held a strategic summit with Huawei to increase cooperation on investm- ents and to exchange the best global solutions, experiences, and practices in innovation, disruptive technologies, smart grids, digital transformation, automation, cloud platforms, and artificial intelligence (AI). The summit was attended by Saeed Mohammed Al Tayer, Managing Director and CEO ...

DUBAI / WAM Emirates Central Cooling Systems Corporation (Empower) announced it awarded contracts valued at AED33 million to expand its district cooling pipe network at Dubai Studio City. The network expansion is part of the company’s infrastructure development plan using state-of-the-art technology to meet the increasing demand for cooling services in Dubai’s growing commercial and residential sector, and to provide ...

DUBAI / WAM Etihad Credit Insurance (ECI) signed a memorandum of understanding with Mohammed Bin Rashid School of Government (MBRSG) to jointly build a framework of excellence for ECI that will help to upskill its employees and elevate their competency levels. This partnership will lay the foundation to develop and nurture ECI’s workforce that will ensure the sustained development and ...

Bloomberg Japan’s key consumer prices continued to rise at the same pace in July, amid increasing speculation that the Bank of Japan (BOJ) may ramp up its stimulus as early as next month. Prices excluding fresh food rose 0.6% in July from a year earlier, matching economists’ median estimate, according to data from the internal affairs ministry. The downward impact of ...

Bloomberg Asia’s cocoa industry is scouring for ways to boost local bean supplies as the region’s chocoholics munch through more candy than ever. The solution is to increase production in Indonesia, the top supplier and processor in the region, according to the Cocoa Association of Asia. But that’s going to be a tough assignment because it means reversing a relentless ...

Bloomberg Singapore is offering a rare opportunity to buy positive-yielding quality bonds in a world that’s rapidly turning negative. The city state, which pays the highest returns among economies that have AAA credit ratings from all three major agencies, will sell reopened July 2029 government debt worth S$2.9 billion ($2.1 billion) on Wednesday, the second-largest amount on record for 10-year ...

Bloomberg Japanese consumers may face a costlier bill to stay warm this winter if South Korea bans exports of heating fuel to its neighbour as the trade feud between the two countries deepens. Kerosene is used as a fuel in portable stoves and fan heaters, particularly in the colder northern part of Japan. While local production accounts for about 90% ...

Bloomberg Huawei Technologies Co. expects US export restrictions to reduce annual revenue at its consumer devices business by about $10 billion, as the company is banned from buying American components like semiconductors and software. China’s largest technology company is seeking ways to replace key US suppliers such as Cadence Design Systems Inc. and Synopsys Inc., Deputy Chairman Eric Xu said. ...

Bloomberg Global banks will this week start making their case on why they should be hired for what’s set to be the world’s biggest initial public offering (IPO), according to people with knowledge of the matter. Dealmakers representing advisory firms from around the world will from Tuesday travel to Saudi Aramco’s headquarters in Dhahran in the kingdom’s Eastern Province to ...