News

Sharjah / Emirates Business Continuing to play a key role in educating, guiding and supporting new entrepreneurs across the emirate, the Sharjah Entrepreneurship Center (Sheraa) and Sharjah Chamber of Commerce and Industry (SCCI), have signed a Memorandum of Understanding (MoU) to further develop the entrepreneurship ecosystem. The MoU, signed by HE Najla Al-Midfa, CEO of Sheraa, and HEAbdallah Sultan Al ...

DUBAI / Emirates Business Albwardy Marine Engineering, founded in Al Jadaf in 1978 by Ali Albwardy, celebrated its 40th anniversary in the UAE along with its 10th anniversary for a successful joint venture with the Dutch shipyards ‘Damen’. Albwardy Damen, a joint venture providing shipbuilding and ship repair services to the marine and oil and gas related industries in the ...

Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc) announced that it has signed a partnership agreement with Japan Oil Development Co. Ltd. (JODCO) and the Kumon Institute of Education (KIE) to pilot the highly successful Kumon Method of learning mathematics in two Adnoc Schools in Abu Dhabi. The world-renowned Kumon method was pioneered in Japan and guides ...

Bloomberg A Southeast Asian nation that was a bit player in the biofuel market is suddenly buying and selling unprecedented supplies. The US-China trade war may have something to do with it. Malaysia has emerged to displace the US as the biggest supplier of ethanol to China in just two months. It’s also the first time the Southeast Asian country ...

Bloomberg Libya’s top oil chief expects Opec and allied producers to exempt the strife-torn North African country from any future cuts in crude output. “The Opec community has understood the difficulties we face— Libya has withheld more than any other country from the global market,” National Oil Corp Chairman Mustafa Sanalla wrote in a phone message. “This should be factored ...

Bloomberg Tensions between Nissan Motor Co. and Renault SA over the future of their car-making partnership have exploded into the open as the downfall of Chairman Carlos Ghosn roils the automotive industry and his top lieutenant, Hiroto Saikawa, moves to consolidate power in his absence. The two companies, which are connected via a complex structure of cross-shareholdings and joint manufacturing, ...

Bloomberg PT Tokopedia, Indonesia’s largest online marketplace, is raising $1 billion from existing investors including SoftBank, people familiar with the matter said. The e-commerce operator is valued at about $7 billion after the round, the people said, asking not to be identified as the details are private. That would make it the most valuable startup in Indonesia, according to the ...

Bloomberg A drop in South Korean exports to China and another weak figure for semiconductor shipments add to concerns over the strength of global trade amid the economic conflict between Washington and Beijing. Preliminary trade data for the first 20 days of November showed a 4.3 percent slip in exports to China, the first fall outside holiday-affected months since late ...

Bloomberg Sea Ltd., operator of Southeast Asia’s biggest gaming platform, reported a wider third-quarter loss on rising investments at e-commerce unit Shopee. Net loss increased to $218 million in the three months ended on September 30 from $132.8 million a year earlier, the company said. Total revenue rose to $204.9 million from $94.1 million. Sea has been struggling to keep ...

Bloomberg China’s plan to judge each of its 1.3 billion people based on their social behaviour is moving a step closer to reality, with Beijing set to adopt a lifelong points program by 2021 that assigns personalised ratings for each resident. The capital city will pool data from several departments to reward and punish some 22 million citizens based on ...