News

  Dubai / Emirates Business In keeping with the ‘Year of Giving’ initiative, launched by His Highness Sheikh Khalifa bin Zayed Al Nahyan, Emirates NBD, a leading banking group in the region, announced that it aligned its 2017 Corporate Social Responsibility (CSR) objectives with the three main themes of the UAE President’s initiative – ‘Strengthening social responsibility in the private ...

  Bloomberg For sale: stakes in oil fields. Bids from world class energy companies preferred. Pipelines and terminals associated with the deposits only blown up about a dozen times in the past year. Deal may depend on crude prices. Nigerian President Muhammadu Buhari’s government on March 7 proposed a plan to jump start the economy by, among other things, selling ...

  Bloomberg The future of the Canadian oil sands is looking a lot more Canadian. Calgary-based Canadian Natural Resources Ltd. said it will spend C$12.7 billion ($9.4 billion), its biggest purchase ever, to buy Alberta oil fields and facilities that process the sticky bitumen from oil sands from Royal Dutch Shell Plc and Marathon Oil Corp. “At the time you ...

  Bloomberg Libya’s crude output dropped 11 percent as clashes among rival armed groups over the last 11 days led to the closing of some of the OPEC nation’s biggest oil export terminals, forcing a number of fields to halt production. Output fell by about 80,000 barrels a day to 620, 000 barrels since fighting among armed groups broke out ...

  Bloomberg Australia is pinning its hopes on sugar to revitalize exports to Indonesia, as it seeks momentum for a free trade agreement that has been mooted for nearly a decade. With two-way trade at its lowest since 2009, Australian Trade Minister Steve Ciobo hailed a recent deal to reduce sugar tariffs from 8 percent to 5 percent, bringing the ...

  Bloomberg China’s Qingdao Doublestar Co. said it has signed an agreement with Kumho Tire creditors to buy a 42 percent stake in the South Korean tiremaker in a deal that could enable Doublestar to further expand in China. The deal, worth 955 billion won, or about $830 million, could help turn Doublestar into China’s largest tiremaker if it can ...

  Bloomberg Hong Kong’s securities regulator is investigating CCB International Holdings Ltd., the No. 2 underwriter of initial public offerings in the city last year, for its role advising a Chinese seafood supplier on now-scrapped listing plans, according to people with knowledge of the matter. The Securities and Futures Commission has been interviewing staff of the Chinese investment bank and ...

  Bloomberg Ford Motor Co. will begin producing its upscale Lincoln brand in China by late 2019 after sales almost tripled last year, joining the ranks of automakers localizing production to avoid import taxes in the world’s largest auto market. The Dearborn, Michigan-based automaker will build an all-new SUV model with joint venture partner Changan Automobile Group in the city ...

  Bloomberg Wall Street speculators are zeroing in on the next US credit crisis: the mall. It’s no secret many mall complexes have been struggling for years as Americans do more of their shopping online. But now, they’re catching the eye of hedge-fund types who think some may soon buckle under their debts, much the way many homeowners did nearly ...

  Bloomberg Bovis Homes Group Plc jumped the most in eight months in London trading after the UK homebuilder said it’s in talks to be bought by competitor Galliford Try Plc. Bovis said that talks are ongoing with Galliford Try after it rejected an offer from the company. It ended discussions with Redrow Plc over an earlier bid. The stock ...