News

Dubai / Emirates Business Following the success of ‘Day without Service Centers’ initiated by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and launched by the Department of Finance in October 2017, Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), has rolled out ...

DUBAI / Emirates Business During the Global Alliance for Building and Construction (GABC) Assembly, Dubai Land Department (DLD) was awarded membership to assembly’s executive committee along with prestigious international organisations from five other countries. The GABC Assembly was hosted by DLD and inaugurated by  Dr Thani bin Ahmed Al Zeyoudi, Minister of Climate Change and Environment, in presence of Sultan ...

DUBAI / Emirates Business Gulf Craft, in conjunction with its exclusive Australian Dealer, Australian superyachts, is pleased to announce the delivery of the Majesty 100 M/Y ONEWORLD to an experienced Australian yacht owner. ‘Oneworld’ is fully customized for commercial charters in Australia and will soon commence operations on the East Coast of Australia with Oneworld Charters. Notis Menelaou, VP of ...

WASHINGTON / Reuters OPEC members will need to continue coordinating with Russia and other non-OPEC oil-producing countries on supply curbs in 2019 to reduce global oil inventories to desired levels, Saudi Arabian Energy Minister Khalid al-Falih said. OPEC and non-OPEC countries struck a production supply agreement in January 2017 to remove 1.8 million barrels per day from global markets and ...

LONDON / Reuters Asian spot liquefied natural gas (LNG) prices fell for a third week as above-average temperatures softened demand across North Asia and top consumer Japan resumed output from a long-shut nuclear reactor. Spot prices for May delivery slipped to about $7.10 per million British thermal units (mmBtu), 60 cents below last week’s levels, said several trade sources surveyed ...

LONDON / Reuters Oil exports from southern Iraq have fallen by 70,000 barrels per day (bpd) this month, according to shipping data and an industry source, suggesting OPEC’s second-largest producer is heading for a third month of lower shipments. Southern Iraqi exports in the first 21 days of March averaged about 3.36 million bpd, compared to 3.43 million bpd in ...

Bloomberg Tata Steel Ltd. offered 350 billion rupees ($5.3 billion) to lenders to acquire bankrupt Bhushan Steel Ltd., said a person with knowledge of the matter. Mumbai-based Tata Steel offered an all-cash deal to the creditors, the person said, asking not to be identified because the details aren’t public. The lenders declared the steelmaker’s bid successful, subject to the company ...

Bloomberg Nissan Motor Co. is slowing production at several assembly plants to keep the supply of vehicles on US dealers’ lots in check after being caught off guard by weaker consumer demand. Japan’s second-largest automaker is aiming to have a 50- to 60-day supply of cars and trucks in August, when dealers start transitioning to sell 2019 model-year vehicles, said ...

Bloomberg When it comes to tech startup hubs in Southeast Asia, entrepreneurs sometimes look past Malaysia to the lure of Singapore’s vibrant financial centre or Indonesia’s attractiveness as the region’s largest economy. They shouldn’t, said a former Microsoft Corp. executive who’s now in charge of driving the country’s digital economy. Policy makers are serious about developing the sector that created ...

Bloomberg Leaders of Apple Inc., Google and other US technology giants were expected to head to China to pursue a familiar goal: To do more business in the world’s most populous nation. The effort has had mixed results, at best, in the past. With a trade war brewing between the world’s two largest economies, the goal has gotten loftier still. ...