News

ABU DHABI / WAM The Abu Dhabi Securities Exchange (ADX), held its second annual forum for listed companies in this year, at Waldorf Astoria in Ras Al Khaimah. The forum was attended by representatives from ADX’s listed companies as well as members of the exchange’s senior management. It aimed to introduce and keep partners up-to-date with the latest services and ...

DUBAI / WAM As part of the Happiness Agenda that was launched in May 2016 by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, Smart Dubai Office and Dubai Police on Monday announced a collaboration aimed towards enhancing public participation and the levels of happiness in Dubai. The project, ‘Happy ...

DUBAI / Emirates Business The popular Indian real estate exhibition, the Indian Property Show which has been instrumental in fulfilling dreams of millions of NRIs across the globe, is presenting Best of India in its 21st Dubai edition. The Indian Property Show has partnered with CREDAI (The Confederation of Real Estate Developers’ Associations of India), the apex body of private ...

BEIJING / Reuters China’s domestic prices for liquefied natural gas (LNG) on Monday topped 7,000 yuan ($1,061) a tonne, highest since at least 2011, as demand soared with millions of homes burning gas for the winter instead of coal. Wholesale LNG prices have gained more than half their value from mid-November, meaning the jump in prices has come less than ...

BAGHDAD / Reuters Iraq on Monday invited foreign companies to bid for contracts to explore and develop oil and natural gas reserves in nine new blocks as the OPEC nation seeks to boost its output capacity. “We invite all international companies to participate,” Oil Minister Jabar al-Luaibi told a news conference in Baghdad. “This new exploration bidding round aims to ...

DHAHRAN / Reuters More petrochemical projects will follow after Saudi Aramco agreed to join a $20 billion venture to convert crude oil to chemicals, the state oil company’s chief executive told Reuters. Aramco and Saudi Basic Industries Corp (SABIC) signed a preliminary deal to build a petrochemicals complex with start-up seen in 2025. Aramco has been looking to develop its ...

Bloomberg GAIL India Ltd. received notification from Russia’s Gazprom PJSC that it plans to start deliveries of liquefied natural gas through a contract the Indian buyer is trying to renego- tiate, according to people with knowledge of the matter. The world’s largest gas producer wrote to GAIL this month saying it’s preparing to send cargoes from April under the 2.5 ...

Bloomberg Tencent Holdings Ltd.’s rise into a $500 billion company was fuelled by a culture of internal competition, where teams raced against each other to make ideas work. To become an advertising powerhouse like Facebook Inc., the internal barriers are starting to come down. The seven main business units of China’s largest company are working to synchronise data and study ...

Bloomberg Huochebang and Yunmanman, China’s two biggest apps for Uber-like truck services, have agreed to merge, creating a company valued at more than $2 billion, people familiar with the matter said. Wang Gang, a backer of Yunmanman’s and an angel investor in ride-hailing giant Didi Chuxing, will become the chief executive officer of the new entity, the people said, asking ...

Bloomberg Chinese industrial profits maintained their recent surge, underscoring resilience in the economy and strength in producer inflation. Industrial profits increased 25.1 percent in October from a year earlier, compared with a 27.7 percent pace a month earlier that was the highest in almost six years, the National Bureau of Statistics said on Monday. Profits in the first 10 months ...