News

Dubai / Emirates Business Kuwait Oil Company (KOC) and Grandweld Shipyard, based in the UAE, celebrated the occasion of initial steel cutting announcing the commencement of the production phase for building six Pilot Boats and four Crew Boats for KOC. The design and Engineering phase for the project started during May 2017 and now the production phase has started with ...

DUBAI / WAM Expo 2020 Dubai Bureau has reaffirmed its commitment to inspiring collaboration and driving innovation globally through a series of initiatives and events held during the first-ever UAE Innovation Month. Throughout February, the bureau organised and participated in more than 20 events, in collaboration with Premier Partners and other entities across the UAE, engaging key stakeholders from government, ...

Dubai / WAM Indian Railways, India’s national railway system operated by the Ministry of Railways, has announced its participation at Middle East Rail 2018, to talk about $140 billion worth of current and future rail projects that the government is building to upgrade the country’s urban transportation network. Under the patronage of HH Sheikh Mansour bin Zayed Al Nahyan, Deputy ...

ABU DHABI / Emirates Business Al Hilal Bank has formed a new relationship with National Takaful Company – Watania, and opened an on-site virtual clinic at its headquarters in Abu Dhabi where doctors and medical advice will be accessible via a mobile application and kiosks for staff-members’ health related inquiries, making it the first bank in the UAE to have ...

Bloomberg EON SE agreed to acquire Innogy SE from German rival RWE AG, transforming the energy industry as Europe’s largest economy continues its switch to renewable power. In a complicated deal involving shares and asset swaps, EON SE will emerge with the retail and network businesses of both companies, while RWE will end up owning the combined renewable generation businesses ...

Bloomberg Across Britain, energy companies are hoping that Brexit just might just go away. Energy has only been a sideshow in the discussions about the UK leaving the European Union even though it’s a key part of the trade bloc’s single market. Power and natural gas companies say Britain’s existing relationship with the bloc on energy matters should remain in ...

Bloomberg Oil trading giants including Glencore Ltd. and Vitol SA paid millions of dollars to a former PDVSA trader to get the inside track on Venezuelan oil deals, according to a lawsuit filed by a trust for Petróleos de Venezuela SA. The alleged conspiracy, which includes more than two dozen companies and individuals, even has a name worthy of a ...

Reuters Bahrain-listed Investcorp plans to launch a $100 million fund dedicated to Oman’s pension funds, the alternative asset manager said on Sunday. Investcorp’s new fund will focus on private equity investments in the United States and Europe, the company said in an emailed statement, and will target mid-sized companies across a broad range of sectors. Investcorp, which manages more than ...

Bloomberg Inflation is getting a fresh look in Asia. Nowhere is the global e-commerce wave having more of an impact right now than in Asia, where the region’s burgeoning middle class is embracing clicks over mortar and companies are scrambling to meet their demand via new ventures or acquisitions. In the process, old methods of measuring prices based on the ...

Bloomberg Daimler AG said future collaboration with its new largest shareholder Li Shufu will hinge on keeping the manufacturer’s existing Chinese partner on board. Li, whose holdings include Sweden’s Volvo cars and China’s Geely brands, emerged with a 9.7 percent holding in the world’s biggest luxury carmaker. The Chinese billionaire held initial talks with Daimler Chief Executive Dieter Zetsche, discussing ...