Sharjah / Emirates Business Sharjah FDI Office (Invest in Sharjah) presented the exceptional investment advantages and business opportunities offered by the business-friendly emirate to a number of high-profile investors and decision-makers from India and around the world participating in Vibrant Gujarat Global Summit 2019 in the state capital, Gandhinagar. Invest in Sharjah participated at one of India’s most important business ...
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Dewa and Saudi Aramco ink MoU
Dubai / WAM Dubai Electricity and Water Authority (Dewa) signed a Memorandum of Understanding (MoU), with Saudi Aramco to cooperate on energy, Research and Development (R&D), and smart grids, as well as exchange experiences and best practices, to achieve their strategic objectives. This supports Dewa’s strategy to explore opportunities and help shape the future of the energy sector in the region. ...
Read More »EGA achieves record AED70mn in savings
ABU DHABI / WAM Emirates Global Aluminium (EGA), the largest industrial company in the United Arab Emirates outside oil and gas, on Monday announced that it achieved cost savings of AED70 million in 2018 through employee suggestions and continuous improvement projects, the highest ever in a year since the programme began in 1981. Commenting on the results, Abdulla Kalban, Managing ...
Read More »Dubai to host region’s biggest dental event in February
DUBAI / WAM Under the patronage of HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, and President of Dubai Health Authority, the 23rd edition of the UAE International Dental Conference and Arab Dental Exhibition – AEEDC Dubai, the largest dental event of its kind in the Menasa region and the second largest in ...
Read More »Canadian oil price surge fails to lift producers out of doldrums
Bloomberg Alberta’s crude curtailment plan has caused a dramatic rise in the price of heavy Canadian oil. But for shares of energy companies, it hasn’t been as much of a help. Since the production curtailment was unveiled early last month, Western Canadian Select crude has almost doubled to about $43 a barrel, narrowing its discount to benchmark US oil to ...
Read More »India mulls $9.8bn plan to pay cash to farmers
Bloomberg India is considering a plan to transfer cash to farmers to ease their financial burden instead of offering subsidies, people with knowledge of the matter said. Prime Minister Narendra Modi’s government is planning to combine all farm subsidies, including fertiliser costs, and instead pay farmers cash, the people said, asking not to be identified as the discussions aren’t public. ...
Read More »Takeda mulls sale of $3 billion assets
Bloomberg Takeda Pharmaceutical Co. is considering a sale of some emerging-market drugs, as the Japanese drugmaker expands a push to cut debt after its $62 billion takeover of Shire Plc, people familiar with the matter said. The company is working with Bank of America Corp to gauge potential buyer interest in emerging-market assets it acquired through its 2011 purchase of ...
Read More »China drone giant unearths $150mn losses
Bloomberg DJI has unearthed cases of fraud involving its own employees that may trigger losses of about 1 billion yuan ($150 million) for the world’s largest drone maker, marking one of the largest recent cases of graft among China’s technology giants. SZ DJI Technology Co, which discovered the corruption in an internal probe, said it’s fired multiple workers who inflated ...
Read More »Taiwan’s Dec export plunges to 3-year low
Bloomberg Taiwan’s December export orders plunged the most in almost three years in the latest warning sign for global trade. Export orders fell 10.5 percent in December versus the same period a year ago, according to Taiwan’s Ministry of Economic Affairs, the biggest decline since April 2016. The US was a rare bright spot, with orders gaining 5.6 percent, while ...
Read More »Carlos Ghosn makes yet another bid for bail in Tokyo
Bloomberg At this time of year, Carlos Ghosn would normally be hobnobbing with the global elite at the World Economic Forum in Davos. Instead, he’s languishing in a Tokyo prison. Now the ousted Nissan Motor Co chairman is making a last-ditch effort to win release on bail by pledging to remain in Japan before his trial for alleged financial misconduct. ...
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