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DUBAI / WAM The World Green Economy Summit (WGES 2019) is set to support Dubai’s efforts to become the global capital of green economy and sustainable development. The Summit, to be held in Dubai from October 20 to 21, will focus on three pillars: glo-bal international cooperation in a green economy, cooperation and international partnership to overcome global challenges, and ...

Dubai / Emirates Business Emaar Properties reported one of the highest half-year sales in Dubai at AED9.443 billion ($2.571 billion) during the first six months of 2019. This is 52 percent higher than the half-year 2018 sales of AED6.229 billion ($1.696 billion), underlining Emaar’s reputation as the first choice for investors and increasing its market share significantly in Dubai. Led ...

ABU DHABI / WAM Adnoc Distribution on Sunday reported that its first-half 2019 net profit increased by 4.3 percent, to AED1.173 billion, compared with the same period last year. Free cash flow (EBITDA minus capital expenditures) generation was up 21 percent year-on-year to AED1.345 billion in the first half of 2019. For the second quarter of 2019, EBITDA was AED750 ...

Bloomberg The government needs to spend about 25 billion pesos ($486 million) to provide electricity to the 13 million Filipinos who live without it, the Philippine Star on Sunday cited a lawmaker as saying. Mikee Romero, the head of the Party-list Coalition in the House of Representatives, said that the government should boost the country’s electrification program to reach the ...

Bloomberg Maruti Suzuki India Ltd. reported the biggest decline in sales in almost seven years as a slowdown in consumer spending, the largest driver of growth in the $2.7 trillion economy, became more pervasive. Total sales dropped about 34% from a year earlier to 109,264 units in July, according to a statement. Deliveries of its hatchback models fell 23%, even ...

Bloomberg Indonesia’s state power producer PT Perusahaan Listrik Negara reported a failure in one of its transmission grids, causing massive blackouts in areas on main island of Java. The breakdown has caused disruptions in Greater Jakarta, as well as parts of West and Central Java, the company said in a statement on Sunday. Subway and commuter line operators in Jakarta, ...

Bloomberg South Korean Prime Minister Lee Nak-yon on Sunday urged Japan to correct its “reckless and risky” decision to curb exports to the country, saying that the international community is concerned about security in Northeast Asia after the latest developments. Japan is carrying out an “economic attack” against South Korea after deliberately dismissing diplomatic discussions with the country as well ...

Bloomberg The latest tariff move by the US has “seriously breached” the truce that Presidents Donald Trump and Xi Jinping agreed in Japan in late June and isn’t doing any good to trade talks, according to a People’s Daily commentary. “It deviates from the correct track and is not conducive to solving the problem,” the paper, mouthpiece of the Communist ...

Bloomberg India’s coal ministry is preparing a plan to cut imports of the fuel by at least a third over the next five years, counting on an increase in domestic production and a jump in renewable output, according to people familiar with the plan. Imports are seen falling to below 150 million tons by the year ending March 2024, down ...

Bloomberg Warren Buffett’s distaste for overpaying is winning out over his frustration with sitting on a lot of cash. With stocks at record highs, Berkshire Hathaway Inc. sold $1 billion more worth of stocks than it bought last quarter, its biggest net selling since the end of 2017. Buffett spent last year building a massive stake in Apple Inc. and ...