DUBAI / WAM Dubai Chamber of Commerce and Industry has announced that it has joined more than 450 other chambers of commerce from around the world in signing the Chambers Climate Coalition, a groundbreaking global initiative that aims to take bold and collective climate action. The Coalition, unveiled during the 11th World Chambers Congress in Rio de Janeiro, commits chambers ...
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ABU DHABI / WAM The UAE Cabinet, chaired by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved the sectors and economic activities eligible for up to 100 percent foreign ownership in the UAE. The decision aims to support the growth environment and to reaffirm UAE’s position on ...
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Dubai / Emirates Business The non-oil private sector economy in UAE accelerated in the second quarter of the year, according to Emirates NBD Purchasing Managers’ Index (PMI) survey for June. The headline seasonally adjusted index — a composite indicator designed to give an accurate overview of operating conditions in the non-oil private sector economy — posted 57.7 in June, down ...
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ABU DHABI / WAM Al Dhafra Petroleum, a joint venture between the Abu Dhabi National Oil Company (Adnoc), the Korea National Oil Company (KNOC) and GS Energy, and one of Adnoc’s youngest operating companies, announced it has begun producing crude oil from Abu Dhabi’s Haliba field and discovered potential resources in three new fields in its concession area. According to ...
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ABU DHABI / WAM The UAE is advancing its stature in the area of global competitiveness in the telecommunications sector, by taking the lead in adopting 5G technology. Etisalat is the first telecommunications operator in the Middle East and North Africa to launch a 5G network investing in the future of connectivity via its infrastructure network, driving innovation and digital ...
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Bloomberg Hong Kong’s old Kai Tak airport was famed for its hair-raising landings, as planes skimmed apartment rooftops before touching down just minutes from bustling Kowloon. Now, the site is morphing into one of the city’s biggest real estate developments with multi-million dollar apartments slowly filling up even as new parcels of land go for record prices. China Resources Land ...
Read More »Bloomberg The heaviest downpour since 2005 inundated Mumbai, delaying trains and planes and spurring the city administration to declare a holiday. Flights to Mumbai were delayed, diverted or cancelled after a Boeing Co 737 aircraft operated by SpiceJet Ltd overshot the runway amid heavy rains. Precipitation over the past 24 hours was the second-heaviest on record, said KS Hosalikar, deputy ...
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Bloomberg Moody’s Investors Service’s India unit has put its chief on leave amid a probe into a controversial rating decision, in the latest sign of trouble in the nation’s credit evaluation industry. ICRA Ltd’s board has decided to place Chief Executive Officer Naresh Takkar on leave, the company said in an exchange filing. The rater is examining concerns raised in ...
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Bloomberg Embassy Group, an Indian real-estate developer, that has partnered with Warburg Pincus, has spotted a winner in India’s e-commerce slug-fest: logistics. Embassy is looking to build warehouses and industrial parks near eight big Indian cities that can store goods for retail giants as billionaires including Asia’s richest man, Mukesh Ambani and Amazon.com Inc’s Jeff Bezos clash for dominance in ...
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Bloomberg India will continue to be a net importer of steel for at least the next two years as high-grade products from South Korea and Japan flow in tax free amid worries of escalation in supplies from China, according to Fitch Ratings Ltd’s local unit. Overseas purchases by India totalled 7.8 million tons imported in the year ended on March ...
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