BLOOMBERG Latin America’s policy makers are finding out they can’t fight the market. Colombia saw its peso rise last Monday after announcing a mix of currency, fiscal, and monetary measures, only for it to succumb to an emerging-market selloff later in the week. Argentina’s dollar sales failed to stop the peso falling every other day last week, and investors say …
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ALKESH SHARMA / Emirates Business Sustainable efforts of Ajman Emirate to sensitise merchants and end-consumers on their accountabilities and privileges have yielded positive outcomes. The field visits, exhibitions and educational events, have reflected fruitfully in the latest statistics issued by the Commercial Control and Consumer Protection Division (CCCPD) of the Ajman’s Department of Economic Development (DED). Thanks to its initiatives, …
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Abu Dhabi / Emirates Business Tadweer (Center of Waste Management – Abu Dhabi) has launched “Your health is important to us†initiative for its employees, with the personal participation of the Center’s General Manager, HE Eisa Saif Al Qubaisi. A number of staff from Tadweer’s headquarters in Abu Dhabi and Al Ain Branch walked for 15 minutes within the Delma …
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Dubai / EMIRATES BUSINESS Juma Al Majid, the sole distributor for Hyundai vehicles in the UAE is celebrating its win at the Wheels Car of the Year 2016. The All-New Hyundai Tucson was recognised as the best cross over at the gala event which was held at the Address Dubai Mall Hotel. The Awards ceremony was held to recognise excellence …
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Bloomberg Petroleo Brasileiro SA secured a $10 billion loan from the China Development Bank as the beleaguered state-owned oil producer endures the worst crude market in a generation and faces more than double that amount in maturities over the next two years. The lifeline is part of a deal to supply crude to the Asian country, Rio de Janeiro-based Petrobras …
Read More »Emirates Business Gobi Coal & Energy (Gobi Coal) has announced its ongoing strategic initiative to expand across the energy resources value chain into hard coking coal, coking coal mine consolidation, and graphite and uranium development and mining both inside and outside of Mongolia. During 2015, Gobi Coal successfully completed a drilling program at its primary coking coal mine at Shinejinst. …
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Bloomberg Japan is preparing to test its biggest project yet for capturing and storing greenhouse gas pollution under the seabed despite concerns about cost and the safety of pursuing the technology in a region prone to earthquakes. Engineers plan to inject carbon dioxide into deep saline aquifers off the coast of Hokkaido at the northern tip of the nation starting …
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PARIS / Bloomberg A partnership led by by Chinese billionaire Wang Jianlin’s Dalian Wanda Group Co. plans to invest more than €3 billion in a retail and leisure development project outside of Paris, taking on Walt Disney Co. in the euro area’s second-largest economy. EuropaCity will be built 10 kilometers northeast of Paris. It will be the biggest single investment …
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NEW YORK / Bloomberg At the very top of his newly constructed condo tower in SoHo, developer Kevin Maloney saw a problem: a triplex penthouse priced at $45 million that he knew wouldn’t sell in a Manhattan market where luxury deals are slowing. So he ripped up the floor plan and chopped the apartment with about 8,400 square feet of …
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Tokyo / AFP Japan has posted its first factory output expansion in three months, official data showed, offering some rare good news after a string of weak figures threw cold water on recovery hopes. The upbeat figures — a 3.7 percent rise on-month in January — comes as investors look for clues about the state of the world’s number three …
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