News

SHARJAH / WAM The Emirates National Oil Company Group (Enoc), plans to open five service stations in 2019, with the number of stations in the emirate reaching 25 over the next five years. The stations will include the latest technologies and equipment and will operate according to the highest standards to develop the services provided to residents of the emirate. ...

Dubai / Emirates Business With the new boat show season that has just started in Cannes, Azimut Yachts, the world’s leading yachts manufacturer with seven offices in the Middle East including UAE, achieved an excellent year as Azimut Benetti Group closed the accounting period with value of production estimated at €850 million (+18% on the previous year at constant exchange ...

Al AIN / WAM Focused on empowering small and medium sized business and startups, the third edition of the Al Ain SME 2018 will be held under the patronage of H.H. Sheikh Hazza bin Zayed Al Nahyan, Deputy Chairman of Abu Dhabi Executive Council, at the Al Ain Convention Centre on September 17-18. The event’s 2017 edition was hugely successful ...

VIENNA / WAM The Permanent Mission of the United Arab Emirates to the International Atomic Energy Agency (IAEA) in Vienna has launched the first National Nuclear Science for Development Student Competition in cooperation with the UAE Ministry of Education, the Federal Authority for Nuclear Regulation (FANR) and Emirates Nuclear Energy Corporation (Enec). Targeting high-school students from the age of 14 ...

Bloomberg The Massachusetts governor declared a state of emergency after explosions along a natural gas distribution system operated by NiSource Inc. killed one person and injured more than 25 others. He tapped another utility owner to oversee the recovery. Eversource Energy would now be “in charge,” Governor Charlie Baker said. The move came after local officials criticised the operator of ...

Bloomberg AltaGas Ltd. is intensifying its shift towards the US, following up its $4.6 billion takeover of Washington utility WGL Holdings Inc. with a plan to spin off its Canadian assets through an initial public offering. The IPO and a debt repayment from the new company would deliver $770 million in cash proceeds to AltaGas, which plans to use the ...

Bloomberg In Pakistan’s Tharpakar desert, Chinese and Pakistani workers toil in the blistering heat to complete the construction of a massive open pit coal mine and an adjacent 660 megawatt power plant four months before schedule. When Engro, one of Pakistan’s largest conglomerates, which is partnering with China, begins generating electricity from the plant in December it will hit a ...

Bloomberg India’s finance ministry said a 25 percent safeguard duty on solar cells and modules imported from China and Malaysia has been imposed, providing some clarity on the protectionist move that had been caught up in court battles. The tariff will be imposed in accordance with a notification originally published on July 30, the finance ministry said. The development follows ...

Bloomberg Meituan Dianping raised about $4.2 billion after the Chinese food review and delivery giant priced its Hong Kong initial public offering near the top of a marketed range, according to people with knowledge of the matter. China’s second largest tech startup priced its sale of 480.27 million new Class B shares at HK$69 apiece, the people said, asking not ...

Bloomberg The party isn’t over for Chinese companies seeking US listings and NIO Inc., which almost doubled after two full days as a public company, might deserve credit for keeping the trade alive. After an underwhelming first day of trading on September 12, the surge in the Shanghai-based electric car maker suggests investors may continue to swarm around US listings ...