News

Dubai / Emirates Business Less than a month after increasing its capital to AED 1 billion through an Initial Public Offering (IPO), Gulf Navigation Holding PJSC has announced refinancing “Gulf Mishref” and “Gulf Mirdif” petrochemical carriers. The move underlines the increasing demand for the company’s shipping services, which requires increasing its fleet capacity to meet the demand for its services ...

DUBAI / Emirates Business The Dubai Chamber of Commerce and Industry (DCCI) announced that it will host a series of “Business Best Practice Seminars” this month as part of the 10th cycle of Mohammed bin Rashid Al Maktoum (MRM) Business Award and the 2nd cycle of the MRM Business Innovation Award. Three best practice seminars, to be held on January 22nd, ...

Dubai / Emirates Business World-renowned home-grown airline and lifestyle brand Emirates has topped consumer brand sentiment in the UAE for the third year running in the latest Best Brand Rankings, released today by YouGov BrandIndex. YouGov used Buzz scores to compile the rankings. Buzz is calculated by asking consumers daily if they have ‘heard anything positive or negative about a ...

DUBAI / Emirates Business Emirates NBD Asset Management has consolidated its position as one of the leading regional asset managers, announcing strong full-year growth in Assets Under Management (‘AUM’), as well as top quartile returns across the bulk of its fund range. The business’ reputation as the asset manager of choice for institutional clients was further cemented by 2017 inflows ...

Bloomberg India is considering a plan to sell its ownership in Hindustan Petroleum Corp. (HPCL) to the nation’s biggest explorer at a premium of not more than 9 percent of the company’s six-month average share price as it seeks to reach a final agreement as early as January 31, according to people with knowledge of the matter. Capping the premium ...

Bloomberg WhatsApp rival Hike of India is introducing a version of Android that lets users message, make payments and access information without an active data connection, seeking to offer services to people who aren’t yet able to access the internet. The modified mobile software, called Total, will be available on four devices starting March, Hike said. People will be able ...

Bloomberg Vertical farming startup Plenty Inc. plans to build 300 indoor farms in or near major Chinese cities to meet rising demand from the country’s middle-class who are willing to pay more for safer food. The company also plans to set up what it calls experience centres in Beijing and Shanghai so that local residents can taste raw vegetables, Chief ...

Bloomberg Hindustan Unilever Ltd.’s revenue climbed 4.1 percent in the third quarter as India’s largest consumer-goods company widened the gap with competition including from yoga guru Baba Ramdev’s Patanjali Ayurved Ltd. Revenue at the Indian unit of Unilever rose to 87.4 billion rupees ($1.4 billion) in the three months through December, the Mumbai-based company said. That exceeded the 84.3 billion-rupee ...

Bloomberg Billionaire Wang Jianlin’s Dalian Wanda Group Co. is close to reaching an agreement to sell two Australian luxury property projects—one in Sydney and one on the nation’s Gold Coast, according to people familiar with the matter. The buyer is of Chinese origin, said two of the people, who asked not to be identified because discussions are private. A deal ...

Bloomberg The pace at which China exports the fuel it doesn’t want is set to jump by more than four times in 2018, according to the nation’s biggest energy producer. That’s a harbinger of bad news for processors in the rest of Asia — from South Korea to Japan and India — who now have to contend with higher crude ...