News

Abu Dhabi / Emirates Business The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) has significantly upped the ante on global marketing with the introduction of a major new international promotional campaign. This latest activity will build upon a destination identity that has already attracted record numbers of guests to the emirate for two successive years, and ...

Abu Dhabi / WAM The Federal Authority for Nuclear Regulation, FANR, and Khalifa University of Science and Technology (KU), have signed a collaborative research agreement focused on advancing nuclear safety research and educating the UAE’s next generation of peaceful nuclear energy professionals. The agreement was signed during a ceremony held at FANR’s premises by Christer Viktorsson, FANR Director-General, and Dr. ...

Bloomberg Mercuria Energy Group Ltd. revealed how much each of its top executives and founders control of its parent company offering a rare glimpse into the ownership structure of one of the world’s largest energy traders. In an application seeking permission for a US subsidiary to export electricity to Mexico, Mercuria included a detailed list of its shareholders. The obscure ...

Bloomberg UK investment firm Wren House Infrastructure Management is considering buying the remaining 70 percent of Spain’s Global Power Generation SA that it doesn’t already own, according to people with knowledge of the matter. The potential deal could be valued at more than $1 billion, the people said, declining to be identified as the deliberations are confidential. London-based Wren House ...

Bloomberg Ghana is postponing plans to protect itself from higher oil prices as the country reviews how its currency is affecting what consumers pay at the pump. Foreign exchange movements are probably having a bigger impact on volatile fuel costs than changes in the international price of crude, Deputy Minister of Finance Charles Adu Boahen said in an interview in ...

Bloomberg India’s world-beating economic growth is running up against some big risks: high oil prices, emerging market stress as the era of easy money draws to a close, and policy paralysis in the run-up to next year’s federal election. Those factors may push the rupee, Asia’s worst performer this year, even lower, as well as dampen some of the optimism ...

Bloomberg US-based investment firm Varde Partners Inc. and Indian financial services provider Aditya Birla Capital Ltd. are creating a joint venture to invest in “stressed and distressed” assets in India. Birla Capital’s shares rose. Minneapolis-based Varde will take a 50 percent stake in Birla Capital’s asset reconstruction business for 980 million rupees ($13.9 million), the Indian firm said in a ...

Bloomberg Tencent Holdings Ltd.’s equity bulls keep facing so many setbacks these days that you wonder when its loyal shareholders will cave. For them, it’s becoming all too familiar: the shares slump on some negative news and analysts rush to say buy, calling it an excellent time to load up on a stock that’s long been among Hong Kong’s most ...

Bloomberg Vertex Pharmaceuticals Inc.’s cystic fibrosis medicine Orkambi will be subsidized by the Australian government from next month. The medicine will be available on the Pharmaceutical Benefits Scheme from October 1 for all patients over the age of six who have the most common form of cystic fibrosis, Prime Minister Scott Morrison said in a statement. “This will provide over ...

Bloomberg Xi Jinping’s government has demonstrated a unique ability to exert control over everything from political speech to the internet. It may now have met its match: China’s children. The country’s kids have taken to digital games like those around the world, playing hours of Honour of Kings and PlayerUnknown’s Battlegrounds. Their enthusiasm has made China’s the world’s biggest game ...