News

Dubai / Emirates Business Curtin University Dubai launched its first Women of Wisdom forum at Capital Club in Dubai International Financial Centre. The forum, inspired by women for women, allows for an exchange of ideas and discussion on industry best-practice, and will build a community of strong female leaders. The forum featured a panel discussion titled ‘Flexible Careers and Critical ...

Bloomberg OPEC nations pumped slightly more crude in September as Libya’s biggest oil field returned to production. Output from the Organization of Petroleum Exporting Countries was 32.83 million barrels a day in September, a gain of 120,000 barrels a day from August, according to a Bloomberg News survey of analysts, oil companies and ship-tracking data. Production in Libya, which along ...

Bloomberg BHP Billiton Ltd. is getting closer to drilling its first oil wells in Mexico’s deep waters. The Australian mining giant, which last year won rights to partner with state-owned Pemex in the Gulf of Mexico’s Trion field, hopes to have a drilling rig contracted this year and to spud two wells in the second half of 2018, Steve Pastor, ...

Bloomberg Savola Group, Saudi Arabia’s largest food products company, is in talks to buy sweets and confectionery maker Sanabel Al-Salam in a deal worth $300mn, sources said. Savola, which owns supermarket chain Panda, is keen to increase the quality and variety of its sweets offering, said the sources, who declined to be named as the matter was not public. Talks ...

Reuters Bahrain-listed Investcorp aims to invest in companies that support oil giant Saudi Aramco and is also eyeing healthcare and education assets being sold in Saudi Arabia’s privatisation drive, its executive chairman said. The private equity and alternative asset firm, which has offices around the world, aims to more than double investments to $50 billion in five years by expanding ...

Bloomberg A push to use more natural gas by the world’s fastest-growing oil guzzler is getting a boost from an unlikely source: the nation’s gasoline and diesel makers. India’s top three state-owned oil refiners are planning to use their gasoline and diesel fuel outlets to sell compressed natural gas for vehicles, increase investments in city-gas distribution projects and expand use ...

Bloomberg As India’s Tata Consultancy Services Ltd. is squeezed by the Trump administration to reduce the use of overseas workers for US jobs, the information technology outsourcing giant is also fighting claims in court that its hiring practices are anti-American. TCS, Asia’s largest software maker, and Infosys Ltd., a rival Indian outsourcing firm, are both embroiled in civil rights lawsuits ...

Bloomberg Ola scored $2 billion in new funding from a group of investors including SoftBank Group Corp. and Tencent Holdings Ltd., a person familiar with the matter said, helping bankroll Uber Technologies Inc.’s fiercest rival in India. Other backers in the ride-hailing startup’s latest financing round included a venture capital fund jointly run by Indian industrialist Ratan Tata and the ...

Bloomberg Mobike and Ofo investors are in early talks to push China’s two largest bike-sharing startups into a merger, aimed at ending a costly competitive battle and creating a single dominant player in the fast-growing business, according to people familiar with the matter. Investors in both companies have been holding talks to sort through issues such as how to split ...

Bloomberg While connoisseurs in developed nations jaded by chocolate’s ubiquity seek out bars that are unique in provenance, aroma and texture, aspiring consumers in large swaths of Asia are still developing their taste for the treat. In China, for example, “chocolate is not fully part of the diet and preference,” according to Niels Boetje, the managing director for the Asia ...