News

Bloomberg Maruti Suzuki India Ltd. is set to become the third stock in an equity index of the nation’s top 50 companies to cross the 10,000-rupee mark, thanks to this year’s record-setting rally. Shares of the carmaker, which accounts for about half of all cars sold in India, rose as high as 10,000 rupees for the first time on Wednesday. ...

Bloomberg Bondholders of Reliance Communications Ltd., the embattled Indian mobile phone operator controlled by billionaire Anil Ambani, have hired advisers after the company defaulted on its dollar-denominated notes in November. Certain investors holding a significant percentage of the securities have formed a committee, which has appointed PJT Partners Inc. as its financial adviser and Kirkland & Ellis LLP as its ...

Dubai / Emirates Business Azizi Developments, one of the fastest growing developers in the UAE, has announced that it will invest AED9.1billion ($2.5 billion) across its operations in the UAE in 2018, significantly higher than its investments in 2017. The budget was approved by Mirwais Azizi, Azizi Group Chairman during Azizi Developments’ year-end gala dinner, in the presence of His ...

RIYADH / AGENCIES Saudi Arabia released a 2018 state budget on Tuesday that is the largest in the kingdom’s history, as it slowed an austerity drive to support flagging economic growth. The kingdom will boost spending in an attempt to boost economic growth as the government enters a critical 12 mo- nths for Crown Prince Mohammed bin Salman’s plan to ...

ABU DHABI / Emirates Business The Ministry of Economy and the Department of Economic Development – Abu Dhabi have officially launched TIP platform, a platform that will host a community of pioneers in technology and innovation locally, regionally and globally. TIP will also have specialised sub-platforms and will soon launch an award managed by TIP. Through this agreement, The Takamul ...

DUBAI / Emirates Business Under the patronage of HH Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, and Chairman and Chief Executive of Emirates Airline & Group, Dubai Economy hosted the 2nd Business Community Engagement (BCE) Forum under the theme ‘Enabling a Future-Ready Business Environment.’ The Forum was aimed to strengthen the partnership between Dubai Economy ...

DUBAI / Reuters Etihad Airways will scrap flights to Tehran on Jan 24, the latest route to be dropped as the Abu Dhabi airline pursues a strategy review. The airline launched the review in 2016 that has also seen it sell or step away from investments in foreign carriers. Etihad’s five weekly flights to Iran’s capital will be reduced to ...

DUBAI / Reuters United Arab Emirates-based hospital operator NMC Healthcare has $800 million available to start investing in 2018 in the Gulf and other markets, its chief executive told Reuters in an interview. The London-listed firm, which is among the beneficiaries from recent growth in the Gulf’s healthcare sector, plans to acquire hospitals and other facilities, as well as smaller ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, launched the Mohammed bin Rashid Centre for Future Research. The centre will openly publish its research and outcomes to global academic and research communities and will adopt a new concept based on open and participatory international research among scientists. ...

Abu Dhabi / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, issued Ministerial Decision No. 46 of 2017 on the financial reward system for substitute teachers in government schools for boys and girls. According to the decision, which was published in the latest issue of the Official Gazette, the ...