News

ABU DHABI / WAM Abu Dhabi National Exhibitions Company (Adnec) has received ISO 22301:2012 certification for its business continuity management system (BCMS). The recognition reinforces the company’s commitment to increasing organisational resilience. As part of its ongoing quality journey, Adnec has also aligned its Enterprise Risk Management System (ERMS) to the ISO 31000 standard. Since 2012, the company has operated ...

ABU DHABI / WAM A delegation from the Abu Dhabi Department of Energy (DoE) led by Chairman, Awaidha Al Marar, is visiting Japan this week to share the emirate’s experience in developing the energy sector and to exchange expertise with the Japanese energy ministries and organisations. During the visit, the DoE delegation will place particular focus on sustainability projects, demand-side ...

Dubai / Emirates Business A survey of UAE investors and residents show that the recently implemented UAE Permanent Residency Scheme has created a positive sentiment in the investment community. A random survey of 1,012 respondents indicate that existing investors have more appetite to increase their portfolio, while would-be investors are now more open to start investing. Seventy-nine per cent of ...

DUBAI / WAM Dubai International Financial Centre (DIFC) is continuing to prioritise the ease of doing business with the introduction of new licencing categories and fees designed to make establishing businesses within the Centre easier and more affordable. Four new licencing categories were introduced as part of the new Operating Law and Regulations, including Short-term and Restricted Licences, Comme- rcial ...

Bloomberg Pharmaron Beijing Co is planning a Hong Kong share sale only six months after the contract drugmaker went public in China, according to people with knowledge of the matter. The Shenzhen-listed company is working with financial advisers as it prepares to sell shares in Hong Kong as soon as this year, the people said, asking not to be identified ...

Bloomberg Geely Automobile Holdings Ltd, controlled by Volvo Cars owner Li Shufu, issued a profit warning that drove down its shares and those of other Chinese automakers as it sparked concern investors are underestimating the depths of the industry’s slump. Shares of Geely, which said first-half profit plunged an estimated 40 percent, dropped as much as 7.6 percent in Hong ...

Bloomberg Meicai, a Chinese startup that connects vegetable farmers with restaurants, is seeking at least $500 million in funding to try and grab a larger slice of a fragmented food sourcing market, people familiar with the matter said. The company is looking to achieve a valuation of between $10 billion and $12 billion, one of the people said. The figures ...

Bloomberg The US said it would grant licenses allowing companies to export goods to Huawei Technologies Co but won’t remove the Chinese technology giant from an export blacklist, as talks between the world’s two biggest economies resumed. The Department of Commerce will “issue licenses where there is no threat to US national security,” though Huawei will continue to face export ...

Bloomberg The European Commission cut its euro-area growth and inflation forecast for next year as trade tensions and policy uncertainty weigh on the region, strengthening Mario Draghi’s case for further stimulus measures. The latest warning comes just two weeks before the European Central Bank (ECB’s next policy meeting, where it may lower interest rates or signal that action is imminent. ...

Bloomberg Hyundai Motor Co expects to enter the US pickup market soon with what’s likely to be an American-made vehicle aimed at luring buyers who aren’t traditional truck owners, an executive said. “It’ll be a very versatile vehicle,” Michael O’Brien, vice president of product, corporate and digital planning for Hyundai’s US unit, said in an interview. “That has the promise ...