News

ABU DHABI / Emirates Business Leading integrated shipping, logistics and marine services provider GAC is opening a warehouse and open yard in the Middle East’s largest industrial zone and a subsidiary of Abu Dhabi Ports, Khalifa Industrial Zone Abu Dhabi (Kizad). The new GAC Abu Dhabi facility, expected to be fully operational by January next year, will serve a wide ...

ABU DHABI / Emirates Business Al Hilal Bank, the progressive Islamic Bank headquartered in Abu Dhabi, announced the completion of its Data Transformation Programme, as part of the Bank’s strategy to enable digital evolution throughout its entire chain of operations. The Data Transformation Programme was implemented in record time by a specialised team from the Bank using SAS technology, innovative ...

Abu Dhabi / Emirates Business It was a moment of euphoria for Private International English School, Abu Dhabi as the school got qualified to plant five trees in Minae’, South Ras Al Khaimah (Skheibar Area) on December 18. Nine students accompanied by five parents, the SSI coordinator Ushakumari, and Eco Club member Pushpa Joyce attended “For Our Emirates We Plant” ...

Bloomberg SSE Plc and Innogy SE terminated plans to create the UK’s second-biggest utility, the latest sign of pressure on the industry from increasing regulation. SSE’s board decided it wasn’t in the best interest of the company to proceed with the deal to combine its retail business with Innogy’s Npower unit after it emerged last month that more cash would ...

Bloomberg Huawei Technologies’s rotating chairman, speaking publicly for the first time since the shock arrest of its chief financial officer, warned that blacklisting the Chinese company without proof will only hurt the industry and snarl the advent of future wireless technologies worldwide. The company took swipes at the US and its allies on Tuesday during its first press event since ...

Bloomberg Japan’s budget for the fiscal year starting in April 2019 will top 100 trillion yen ($890 billion) for the first time, highlighting the government’s struggle to curb spending in the developed world’s most indebted nation. The budget will increase 3.8 percent to about 101.5 trillion yen, according to a draft budget document obtained by Bloomberg News. Almost a third ...

Bloomberg China is staring at a bigger-than-expected slowdown next year as credit shrinks, said an analyst who made her name warning about the dangers of the nation’s credit binge. Total credit in the country, including lending to companies, has “absolutely collapsed” in 2018, according to Charlene Chu, a senior partner at Autonomous Research in Hong Kong. The estimate is a ...

Bloomberg Hiroto Saikawa, the Nissan CEO who’s been thrust into global prominence since the arrest of Carlos Ghosn, is getting his first chance to explain the Japanese carmaker’s corporate-governance challenges to its alliance partners face-to-face. The chief executive officer is travelling to Amsterdam for a meeting starting from Tuesday of Nissan Motor Co., Renault SA and Mitsubishi Motors Corp., according ...

Bloomberg Ola, India’s dominant ride-hailing startup, is investing $100 million in scooter startup Vogo as part of a deal that will let its users access the two-wheeled devices. The financing, which will be used by Vogo to add 100,000 scooters, is part of a fundraising round that also included Matrix Partners India and Stellaris Venture Partners. “This infusion will give ...

Bloomberg Indians are buying gold for as little as 1 cent as retailers offer online sales in bite-sized portions to prop up shrinking demand in the world’s second-biggest consumer. Demand for gold is falling, partly as a result of government measures, higher local prices and the metal’s fading appeal among more youthful customers. That’s forcing jewellers to adapt online purchases ...