News

SHARJAH / WAM His Highness Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, attended the second edition of the World Youth Forum 2018, along with Abdel Fattah El Sisi, President of Egypt. The forum, taking place in Sharm El Sheikh, will run until November 6. Five thousand young individuals are currently participating in the ...

Sharjah / WAM The Sharjah Investment and Development Authority (Shurooq), has announced exclusive updates about ten latest additions to its portfolio of hospitality projects and eco-destinations at World Travel Market 2018, (WTM) which rolls out on Monday, at the ExCeL in London, UK, and will conclude on November 7. Exhibiting at the Sharjah Pavilion led by Sharjah Commerce and Tourism Development ...

ABU DHABI / WAM The International Fund for Houbara Conservation (IFHC), on Sunday in Abu Dhabi hosted an international summit dedicated to the conservation of the Houbara bustard, a bird synonymous with Arabic culture. The summit, ‘Conservation Through Government Action’, was officially opened by Dr. Thani bin Ahmed Al-Zeyoudi, Minister of Climate Change and Environment. In his opening address, Dr ...

Bloomberg Royal Dutch Shell Plc stepped up its share buyback program as cash flow surged on higher crude prices, even as profit fell slightly short of expectations. Cash flow from operations including working capital movements was $12.09 billion in the third quarter, the highest since 2014. The company said it will repurchase $2.5 billion of shares up to January 28, ...

Bloomberg Encana Corp. agreed to buy US shale producer Newfield Exploration Co. in its largest-ever acquisition, inflaming investors’ ire by reversing course on a strategy of slimming down its oil and gas portfolio. The $5.5 billion purchase will give Encana positions in the Stack and Scoop shale fields in Oklahoma, the Bakken region of North Dakota and the Uinta play ...

Bloomberg Russian oil production moved closer to an all-time high before the nation meets with OPEC partners to discuss future supply. The country’s crude and condensate output averaged 11.412 million barrels a day last month, according to data from the Energy Ministry’s CDU-TEK unit released. Th-at’s about 160,000 barrels a day more than two years ago, before Russia agreed to ...

Bloomberg Japan’s top diplomat says it is up to South Korea to resolve forced labour claims looming over dozens of Japanese companies that are threatening to upend ties between the two neighbours. Foreign Minister Taro Kono said in an interview that the South Korean Supreme Court’s decision ordering a Japanese company to pay compensation to people forced into its service ...

Bloomberg Indian billionaire Kumar Mangalam Birla’s Hindalco Industries Ltd. reported a jump in quarterly profit driven by higher revenue at its aluminum operations even as it flagged risks from higher raw-material costs and rising imports. Net income, including that of its Utkal Alumina unit, rose to 7.3 billion rupees ($100 million) in the three months through September from 4.7 billion ...

Bloomberg A South African mining contractor owned by the Gupta family has been put into liquidation, according to people with knowledge of the matter. Westdawn Investments, which does business as JIC Mining Services (Pty) Ltd., has debt of almost 60 million rand ($4.2 million), said the people, who asked not to be identified because the information isn’t public. The company ...

Bloomberg The turmoil in India’s credit markets, brought on by defaults at a major infrastructure financier, will benefit the nation’s largest developer, allowing it to sell homes while peers struggle to get money to finish their projects. Gurugram-based DLF has adequate liquidity and access to capital to meet all of its obligations on time. It believes that it is well ...