News

Bloomberg Infosys Ltd. approved a 130 billion rupees ($2 billion) share repurchase to improve returns for stakeholders of the Indian software exporter a day after Chief Executive Officer Vishal Sikka quit amid heightened tensions between the board and founders led by ex-Chairman N R Narayana Murthy. Asia’s No.2 software services developer voted to buy back as many as 113 million ...

Bloomberg HNA Group Co. has set a date for a long-awaited shareholder vote on its proposed $1 billion takeover of Singapore logistics operator (CWT) Ltd., people with knowledge of the matter said, in a sign that the beleaguered Chinese conglomerate is moving ahead with the deal. The Hong Kong-listed unit pursuing the purchase, HNA Holding Group Co., has scheduled an ...

Bloomberg Singapore’s reputation for slick infrastructure and efficient public transport received a knock morning as two of its five mass transit rail lines suffered signaling failures, leaving thousands of disgruntled passengers late for work and unleashing a tirade of criticism on the social media sites of the two rail operators. “Lovely….I’ll send ye the bill for the cab I’m having ...

Bloomberg Taiwan upgraded its economic growth forecast for this year, signaling confidence for 2018, as a strong exports outlook lifts momentum. The statistics bureau revised its estimate for 2017 gross domestic product to 2.11 percent, up from the previous projection of 2.05 percent in May and closer to the central bank forecast of 2.13 percent. The bureau also said it ...

Dubai / WAM The Dubai-based Jebel Ali Free Zone (Jafza) attracted 267 new companies from 48 countries around the world, in first half (H1) of 2017, marking a growth of 6 percent compared to the same period last year. Maintaining its position as a preferred investment destination for large-scale industrial and commercial projects coming into the UAE, the free zone ...

Abu Dhabi / WAM UAE stock markets are back in the green on Wednesday after profit-booking over the past two days, amidst upbeat sentiments comparatively with the past few days. The marked improvement came after shares plummeted to mouthwatering levels, spurring a buying spree by institutions and individuals alike who mostly targeted banking and real estate equities. ADX General Index ...

Bloomberg The total value of monetary deposits at the UAE CentralBank amounted to AED123 billion during H1 2017, AED122.95 billion of which are in banknotes and AED50 million in coins. On a month-over-month basis, the deposits increased by 20.5 percent, rising from AED102 billion in May to AED123 billion in June, according to Central Bank statistics released recently. The month ...

ABU DHABI / WAM Abu Dhabi Urban Planning Council (UPC) is encouraging government officials, urban planners and developers to ‘push the boundaries of what is possible’ during a series of workshops on the Hudayriat Island Master Plan. The UPC held its second of five stakeholder workshops, which helped shape the concept master plan set to be submitted by the end ...

Dubai / Emirates Business As many as 801 construction projects with a combined estimated value of $32 billion (AED117.44 billion) are currently in tendering state in the GCC’s urban construction sector which will serve as a strong pipeline of projects to be awarded in the near future, according to BNC Network, the largest and most comprehensive project research and intelligence ...

AJMAN / WAM HH Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and President of the Executive Council, praised the directives of Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, to establish the world’s first Government Accelerators. Sheikh Ammar made this statement while viewing a presentation by ...