News

Abu Dhabi / WAM The Iran-backed Houthi militias have once again proved themselves to be the party that should be held accountable for the failure of the UN efforts to find a peaceful solution to the situation in Yemen after they had intentionally absented themselves from the UN round of negotiations in Geneva, which was held in the presence of ...

HODEIDAH / WAM A delegation of the Emirates Red Crescent (ERC), headed by Hamad Al Kaabi, UAE Humanitarian Operations Deputy Director for Yemen, has visited the Ad Durayhimi Hospital in Hodeidah Governorate, in an effort to help address the hospital’s medical and technical needs. The move is part of the UAE’s continuous support to the Yemeni health sector, especially in ...

DUBAI / WAM MaK Middle East LLC, a Caterpillar company established in Dubai in 2017, opened a new branch in Fujairah as part of its expanded service reach within the UAE to serve a wider range of customers. In addition, the company is now also officially registered in the Sharjah Ports of Hamriyah Freezone, Al Khalid and Khor Fakkan, enabling ...

ABU DHABI / WAM The Department of Economic Development – Abu Dhabi (DED), has issued two decisions to facilitate economic activities in Abu Dhabi as part of the initiatives and incentives provided to the private sector companies and entreprises operating in the Emirate. These decisions will help improve the Emirate’s ranking in the Doing Business and Global Competitiveness Reports. The ...

Bloomberg India’s efforts to sell a $1.6 billion stake in Oil & Natural Gas Corp. has run into concerns that government policies on fuel pricing would weigh on the state-run explorer’s share price, according to people with knowledge of the situation. Investors and fund managers that met with Indian government officials during a US roadshow last month voiced concern that ...

Bloomberg Equatorial Guinea may exclude oil-service companies TechnipFMC Plc, Subsea 7 SA and Schlumberger Ltd. from the country because they aren’t complying with local-content rules over training and jobs, said a government official. Major oil companies could be asked by the end of September to cancel their contracts with those service providers and issue new tenders, the official said, asking ...

Bloomberg I Squared Capital, the private equity firm led by former Morgan Stanley executives, is considering a sale of Irish power producer Viridian Group Holdings Ltd., people with knowledge of the matter said. The infrastructure-focussed investment firm is sounding out potential buyers to gauge their interest in Viridian, said the people, who asked not to be identified as the information ...

Bloomberg China’s chances of escaping the trade conflict with the US with only minor damage to its economy just got slimmer. On September 7, US President Donald Trump doubled down on his threats to impose higher tariffs on the nation’s goods, saying he’s ready to tax all imports “at short notice”. While economists see the immediate impact of trade tension ...

Bloomberg Alibaba Group Holding Ltd. Chairman Jack Ma told the New York Times that he plans to step down from his role at the company on Monday, marking the end of an era at China’s e-commerce juggernaut. China’s richest man said that he would remain on Alibaba’s board of directors as he pursues philanthropic endeavours, the New York Times reported. ...

Bloomberg China sustained a surge in aluminum shipments to world markets in August as buyers sought supplies from the largest producer to replace metal from United Co. Rusal, which has been hit by US sanctions. Exports of unwrought aluminum and products reached 517,000 metric tons, almost the same as the 520,000 tons in July, which was the highest total in ...