News

Frankfurt / WAM A memorial to the UAE’s heroes and a celebration of the nation’s unity, Abu Dhabi’s Wahat Al Karama (Oasis of Dignity) has been announced as one of the winners of the German Design Award, an annual competition organised by the German Design Council, to recognise exceptional architectural projects and products. The Oasis received the award for its ...

Abu Dhabi / WAM The Ministry of Human Resources and Emiratisation has declared Thursday, September 13, an official paid holiday for all private sector employees in the UAE to celebrate the coming Islamic New Year, Al Hijri 1440. Nasser bin Thani Al Hamli, Minister of Human Resources and Emiratisation, extended his sincerest greetings and blessings to the President His Highness ...

Abu Dhabi / WAM Dr Amal Abdullah Al Qubaisi, Speaker of Federal National Council (FNC), received Roderich Kiesewetter, member of the German Bundestag to review means of enhancing cooperation ties between the UAE and the Republic of Germany in various fields, especially across the parliamentary domain. During the meeting, Dr. Al-Qubaisi explained the role played by the FNC in addressing ...

Abu Dhabi / Emirates Business Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, has approved a $33 million (AED121 million) concessionary loan for the development of a waste-to-energy facility in the emirate of Sharjah. The facility is the flagship project of Emirates Waste to Energy Company, a joint venture between Masdar, a regional leader in ...

Bloomberg Africa is entering the oil-hunt spotlight as drillers, flush with cash after crude’s recovery, are turning their attention back to the continent’s potentially vast resources. The world’s biggest companies from Exxon Mobil Corp. to Royal Dutch Shell Plc and BP Plc are setting up camp across Africa. Armed with stronger balance sheets and higher crude prices the industry is ...

Bloomberg The world’s biggest offshore oil driller may reactivate two to three mothballed rigs a year as the industry embarks on a full-fledged recovery for deepwater exploration. In announcing a $2.7 billion deal for a rival operator, Transocean Ltd. cited a forecast by energy consultant Wood Mackenzie Ltd. that day-rates in waters more than two miles deep will more than ...

Bloomberg The unraveling of one of India’s most storied business empires has caused a rupture in its founding family, with one of the Singh brothers — synonymous with each other for decades — saying he has sued the other for alleged “oppression and mismanagement” of their companies. In a statement, Shivinder Singh said he filed a case with India’s National ...

Bloomberg Toyota Motor Corp. is recalling more than a million of its Prius and C-HR compact crossover vehicles globally due to the risk of fire. Of the 1.03 million affected vehicles, 554,000 will be called back in Japan and 192,000 in the US, according to Jean-Yves Jault, a company spokesman. There has been one reported case of a vehicle emitting ...

Bloomberg The bidding frenzy for Singapore land has slowed to a trickle, going by the results of the first auctions since property curbs were tightened. Just three bids were submitted for the Jalan Jurong Kechil site in the island’s northwest, compared to 24 received in April last year for the nearby Toh Tuck Road plot. Only five offers were tendered ...

Bloomberg Zijin Mining Group Co., a Chinese gold and base metals producer, agreed to buy Nevsun Resources Ltd. for $1.41 billion in cash, just days after winning a tender for a Serbian copper miner. The Fujian-based company will acquire all of the issued and outstanding shares of Nevsun for C$6 per share in cash, they said. The cash consideration represents ...