News

Aden / WAM The fall of the Al Duraihami district of Hodeidah to the Yemeni National Resistance Forces is a turning point of the Saudi-led Arab Coalition military campaign, launched in 2015 to defeat the Houthis and restore Yemen’s government. The recent victory, in which the UAE Armed Forces participated, and backed the Yemeni Resistance, has brought the Coalition closer ...

Lahej / WAM The Emirates Red Crescent (ERC), launched a project to construct three classrooms at the Sheikh Zayed bin Sultan Al Nahyan School in Amjerbaa in Tuban District, Lahej Governorate, as well as to restore the Rajih Azab School in Sabr, as part of its activities for the Year of Zayed. The project launch was attended by Major General ...

Dubai / Emirates Business The destination wedding industry in the Middle East continues to register steady growth and is presently worth around $4.5 billion, with the UAE emerging as the top destination for weddings in the region. These are among the findings of a survey conducted by Dubai-based event organizer QnA International at the 5th annual Destination Wedding Planners (DWP) ...

Bloomberg For oil traders, there’s no place quite like Saldanha Bay. When prices slumped in 2014, trading houses generated outsize profits by storing millions of barrels of crude in the deep-water harbor north of Cape Town. Now storage facilities at the port — where South Africa built vast concrete bunkers in the 1970s that helped insulate the apartheid regime from ...

Bloomberg Darren Woods is mounting a strong defense of his plan to rescue Exxon Mobil Corp. from its share-price slump with a multibillion dollar investment spree that’s at odds with the belt-tightening undertaken by rivals. Far from preaching spending caps or showering investors with cash, Woods’ solution, outlined in an interview, is to invest heavily in mega-projects that he says ...

Bloomberg For the past few days, the question has been popping up on trading desks across Hong Kong: What’s up with Alibaba’s health unit? Largely ignored by analysts and stuck in a tight trading range for more than a year, the stock on May 17 suddenly turned into one of the world’s best performers for no apparent reason. It surged ...

Bloomberg India faces a copper supply shock after a state government ordered billionaire Anil Agarwal’s Vedanta Ltd. to shut down a plant permanently following deadly protests in a move that will slash nationwide output and stoke demand for imports. The company’s shares fell. The Tamil Nadu government directed the southern state’s pollution control board to seal the 400,000 metric-ton-per-year smelter ...

Bloomberg Ningbo Jifeng Auto Parts Co. affiliates are in talks to buy out partner Grammer AG in a possible deal that could value the German maker of vehicle seats at about 750 million euros ($872 million). Grammer stock rose the most in nine years. The German manufacturer received an indicative proposal of 60 euros a share, Amberg-based Grammer said in ...

Bloomberg The southwest monsoon, which waters more than half of India’s farmland, arrived on the mainland ahead of its normal schedule. The monsoon reached the southern state of Kerala on Tuesday, according to a statement on the India Meteorological Department’s website. The department had accurately predicted an onset date of May 29 for the June-September rainy season, which typically starts ...

Bloomberg China is considering a plan to buy more American coal as part of an effort to narrow its trade deficit with the US, according to people with knowledge of the matter. Chinese officials are currently looking at boosting purchases from West Virginia in particular, said the people, who asked not to be identified because they’re not authorised to speak ...