News

  Dubai / Emirates Business His Excellency Essa Kazim, Governor of Dubai International Financial Centre (DIFC), welcomed a United Kingdom parliamentary delegation and His Excellency Sulaiman Al Mazroui, the UAE Ambassador to the UK, on a special visit to DIFC, the leading international financial hub in the Middle East, Africa and South Asian region. The UK is very important for ...

  Dubai / Emirates Business The Sustainable Energy Program Section team at Mohammed bin Rashid Space Centre (MBRSC) held a workshop entitled “New Engineering and Smart Technologies Shaping Future Cities” at the first edition of The Future Cities Show 2017, held from April, 2-4. During the workshop, the team briefed participants on the engineering practices and technologies deployed in the ...

  Bloomberg China National Chemical Corp. won European Union antitrust approval for its $43 billion takeover of Swiss pesticide maker Syngenta AG, a day after the US gave its blessing, bringing China’s largest foreign acquisition closer to the finish line. ChemChina’s offer to divest some pesticides and other agricultural products will remove “problematic overlaps” and allow EU regulators to clear ...

  Bloomberg Britain is looking for ways to scrap its 2020 clean energy targets while maintaining everyday trade in Europe’s energy market, an early sign of the kind of cherry-picking that threatens to sour Brexit negotiations. Officials in the Treasury and the business department are looking for a way to abandon the national goal of getting 15 percent renewable energy ...

  Bloomberg The UK’s services sector grew faster than expected in March and surging costs prompted companies to raise their prices at the quickest pace in 8 1/2 years. The momentum in IHS Markit’s monthly Purchasing Managers’ Index was accompanied by stronger growth in new business. Even so, the survey reflected gathering storm clouds for the UK economy as hiring ...

  Bloomberg Dan Ivascyn’s Pimco Income Fund keeps raking in money. The fund, co-managed by Ivascyn and Alfred Murata, celebrates its 10th anniversary this week by becoming the largest actively managed fixed-income mutual fund with $79.1 billion, according to Pimco’s website. Pimco Income passed Metropolitan West Total Return Bond Fund as investors added approximately $3 billion in March, a monthly ...

  Bloomberg Cyprus wants investors to see it as a comeback kid. With an accelerating economy, the island nation that was forced to seek a bailout and impose a levy on bank deposits in 2013 is betting on an end to its junk rating. That should make it an attractive place for investors, the country’s leaders are saying. “What has ...

  CHIBA / Reuters Producers of liquefied natural gas (LNG) have shot themselves in the foot with oversupply, and face calls for flexibility and greater competition from other fuels that may force them to take more risks and start trading just like other commodity dealers. That’s a big change for a market long dominated by large producers such as Royal ...

  Bloomberg Saudi Arabia has chosen a hybrid structure for its debut international sukuk, the prospectus for the offer showed, a format widely used in the Saudi local debt market, but not the most popular for sovereign issues. The Islamic bond, expected to go up to $10 billion, will be the country’s second international debt sale after a $17.5 billion ...

  Bloomberg Oil rose to the highest in almost a month as investor focus returned to US crude inventories after supply disruptions and optimism over OPEC’s output curbs drove a rally in the past week. Futures added as much as 1.3 percent in New York, the sixth increase in seven days. US stockpiles shrank by 1.83 million barrels last week, ...