News

DUBAI / WAM DMCC has signed a strategic partnership with CropData Technology to develop a digital pan-India agricultural trading marketplace, during the Indian Prime Minister, Narendra Modi’s, visit to intensify economic corporation and enhance bilateral trade between the two countries. Under the agreement, DMCC will develop a digital platform, which will eventually connect up to 500 logistic hubs throughout India, ...

ABU DHABI / WAM Abu Dhabi Ports’ IBTIKAR programme, Arabic for ‘innovation’, has been awarded the Platinum level accreditation by ideasUK, one of the most prominent associations for the promotion of employee involvement programmes in the UK and beyond. The announcement took place at ideasUK’s annual conference which was held in London. Since inception in December 2013, the IBTIKAR scheme ...

Dubai / Emirates Business Dubai Trade, the technology-driven trade solution for global trade enabler DP World, has shortlisted nominees for its 10th E-Services Excellence Award (ESEA). In its 10th year, the Award is the first of its kind in the region to recognise organisations for adopting smart services in trade, shipping and logistics. Sultan Ahmed bin Sulayem, DP World Group ...

Dubai / Emirates Business The all-new 2018 Eclipse Cross is a fusion of sharp coupe looks and dynamic SUV mobility with signature Mitsubishi styling, technology and driving confidence. It joins the formidable line-up of the other popular Mitsubishi SUVs like the legendary Pajero, Montero Sport, Outlander and the ASX. The Eclipse Cross contains many all-new features including a 1.5-liter direct-injection ...

Dubai / Emirates Business Arjaan by Rotana, Dubai’s finest hotel apartments located in Media City, announced the conclusion of its annual GCC roadshow across key markets in the region. Members of the top travel trade, full delegation of Arjaan by Rotana, top government and corporate companies present at the roadshow were informed on the most recent developments at the hotel. ...

Bloomberg Surging output of US shale oil won’t be a “huge distorter” of efforts by global crude producers to clear a glut, according to OPEC’s president. The market should re-balance this year, given robust demand and producers’ compliance with their pledges to curtail supply, United Arab Emirates Energy Minister Suhail Al Mazrouei, currently the president of OPEC, said on Monday ...

Bloomberg Asia’s rapacious thirst for liquefied natural gas is sucking supplies from surprising places. China to Japan and South Korea are paying top dollar for the super-chilled fuel. The pull is so strong that Norway’s Statoil ASA, which usually exports most of its LNG to Europe, is shipping a rare cargo east. It plans to send more. Asia gets most ...

SEOUL / Reuters South Korea’s Korea Gas Corp has entered court-administered arbitration with Australian joint venture North West Shelf Gas seeking to settle a dispute over a liquefied natural gas (LNG) contract that expired in 2016. A spokesman for the state-run Korean firm, known as KOGAS, confirmed an arbitration process was under way but declined to give details. Woodside Petroleum, ...

Bloomberg Singapore may unveil an e-commerce tax in next week’s budget, setting the tone for a region that’s grappling with online retail’s assault on brick-and-mortar vendors. Eight of the 12 economists in a survey said the February 19 budget will contain a new tax on online vendors, with another betting that cross-border digital transactions will now be included in goods-and-services ...

Bloomberg Takata Corp.’s US operations, pushed into bankruptcy by the largest automotive recall in US history, settled with two groups representing victims of its faulty air bags, the company said in court documents. Two committees for people suing over the air bags have agreed to support a bankruptcy-exit plan that would resolve lawsuits by channeling them into a trust funded ...