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SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) has announced that a high-level delegation is preparing for a visit to the Republic of Costa Rica, to enhance bilateral economic relations and serve mutual interest to achieve more growth and prosperity between the two countries. The delegation will include officials from a number of government agencies, representatives of ...

DUBAI / WAM The Business Registration and Licensing (BRL) Sector at Dubai Economy has registered record results in the number of licenses issued in the first half of 2017 with 10,455 commercial licenses issued at an average of 1,743 licenses per month, while the total number of licenses renewed was 71,831 at a monthly average of 11,971. These results underline ...

Abu Dhabi / Emirates Business Abu Dhabi University’s (ADU) Career Development Department has begun preparations to implement a comprehensive plan of events, activities and initiatives that enhance career opportunities for graduates, and provide them, even before graduating, with support and guidance they need to succeed on career paths. The plan will include interactive training programs and specialized workshops aimed at ...

Bloomberg New York gasoline traders have figured out something the rest of the oil world is dying to know how to do: balance the market. Mid-Atlantic gasoline supplies are now more than 5 million barrels lower than year-ago levels, an impressive decline considering stockpiles in the region swelled to 42.3 million in February — the highest level in government records ...

Bloomberg Crude oil inventories will decline at a faster pace worldwide in the second half of the year as demand increases and OPEC members comply better with a global agreement to cut output, Kuwait’s OPEC Governor Haitham al-Ghais said. The Organization of Petroleum Exporting Countries and other major producers including Russia agreed in May to extend their supply-cuts deal through ...

Bloomberg The US is seeking to recover $144 million in assets, including proceeds from a luxury condominium on Manhattan’s Billionaires’ Row in New York, which prosecutors claim were spoils from bribes paid for Nigerian oil contracts. The Justice Department, in a lawsuit filed in Houston, said two Nigerian businessmen made corrupt payments to a Nigerian official who oversaw the country’s ...

Bloomberg A Chinese consortium agreed to pay S$16 billion ($11.6 billion) for Global Logistic Properties Ltd., the warehouse operator backed by Singapore’s sovereign wealth fund, in Asia’s biggest buyout. GLP accepted the takeover offer from a management-backed group that includes private equity firms Hillhouse Capital Management and Hopu Investment Management. The group, which also includes founder Ming Mei’s SMG, Bank ...

Bloomberg Infosys Ltd. raised its annual revenue outlook after eking out a 1 percent rise in quarterly net income, as newer digital services helped it bag contracts despite shrinking client budgets. Asia’s second-largest outsourcer of IT services forecast a 7.1 to 9.1 percent climb in revenue for the year ending March 2018 on a US dollar basis. That beat analyst ...

Bloomberg These are great times for China’s gargantuan steel industry as product prices soar to multi-year highs, mills’ profits swell and speculators stake out record positions in futures markets in the country that makes half of global supply. They could be over soon. While demand in Asia’s top economy has remained strong, “as the property market cools and investment growth ...

Bloomberg India is considering a proposal to lift a cap on investment by foreign retailers in local supermarkets, according to people with the knowledge of the matter. A meeting led by Prime Minister Narendra Modi may decide on a proposal to allow 100 percent investment by retailers such as Wal-Mart Stores Inc. and Carrefour SA if they agree to sell ...