News

Bloomberg GreenWish Partners, a renewable energy company run by a former Morgan Stanley executive, is planning to invest $800 million on solar-powered telephone towers across Africa. The project could fuel economic growth by providing power for essential services. Sub-Saharan Africa has the lowest rates of energy access in the world and is home to about half of the world’s 1.2 ...

Bloomberg Shares of Unicom Group’s key units in Shanghai and Hong Kong rose after China’s second-largest wireless carrier announced a $11.7 billion stock sale as part of a government push to draw private capital into its state-owned enterprises. China United Network Communications Ltd., which has been suspended from trading since April, climbed by the 10 percent daily limit to 8.22 ...

Bloomberg Thailand’s economy grew at the fastest pace in more than four years, led by a surge in farming output and tourism. Gross domestic product rose 3.7 percent in the second quarter from a year ago after expanding 3.3 percent in the first quarter, the National Economic and Social Development Board said on Monday. The median estimate of 21 economists ...

Bloomberg Infosys Ltd. begins the search for a new chief executive officer this week with a tough set of requirements for any candidate: The person must be capable of leading a 200,000 employee organisation, willing to tackle sweeping changes in the outsourcing industry and brave enough to drop in the middle of open warfare between the company’s board and co-founders. ...

Dubai / Emirates Business A recent census of optician stores in the United Arab Emirates (UAE) has revealed that the power of shopping malls to attract consumer buying behaviour is growing, with a 22% rise in the number of shopping mall-based opticians since 2014. These locations now account for one third of all optician business in the Emirates. GfK, the ...

ABU DHABI / WAM The UAE stock markets started the maiden session of the week on a high note following a selective buying spree targeting a series of blue chips which secured some gains over the past few days. Within this context, the DFM General Index went up 0.39 percent to 3615 points, which is an acceptable level according to ...

ABU DHABI / WAM The banking sector increased their statutory reserves at the UAE Central Bank by AED8.6 billion during H1, 2017, bringing to AED125.5 billion the total required reserves by the end of June 2017, according to CB statistics. Statutory reserves are the minimum liquidity banks are required to hold against client deposits without getting interests in return. The ...

Dubai / WAM Dubai Aerospace Enterprise (DAE) has completed its previously announced acquisition of the AWAS group of companies in a move that propels DAE into the top tier of global aircraft lessors. DAE will now conduct its aircraft leasing business using the DAE Capital brand name. DAE Capital now features an owned, managed and committed fleet of approximately 400 ...

DUBAI / WAM Tejar Dubai, an initiative of the Dubai Chamber of Commerce and Industry has said that a total of 28 commercial projects have been launched to date by its participants with a majority of Emirati-owned businesses operating within the UAE’s smart services, retail, logistics, and food and beverage sectors. A total of AED 15.4 million worth of financing ...

DUBAI / WAM Smart Dubai Government Establishment contact centre has received ISO 18295 certification, Parts I and II, as well as the CCA Global Certification for Contact Centre Management. This makes the centre the first in the world to receive the ISO certificates, awarded by the Switzerland-based International Organisation for Standardisation (ISO) and the first in the region to receive ...