News

  Dubai / WAM Eng. Hussain Nasser Lootah, Director-General of the Dubai Municipality, issued a circular requiring all buildings and shopping centres to provide adequate safety requirements that would ensure public safety, especially for children. Khalid Mohammed Sharif, Assistant Director-General for Environment, Health and Safety Sector, explained that the municipality is keen on achieving strategic objectives of safety while ensuring ...

  Abu Dhabi / Emirates Business ADNOC Distribution announced the opening of Gutouf service station in Al Rahba area of Abu Dhabi as part of the company’s strategic expansion plan to meet the growing demand for its high-quality products and services. Located near Golden Stars Stadium, the latest addition to ADNOC Distribution’s network takes the total number of stations in ...

  Bloomberg Franklin Templeton Investments bought about 80 billion rupees ($1.2 billion) of Indian government bonds in two days this week, a person with knowledge of the matter said. The purchases, made on Tuesday and Wednesday, were largely for tenors maturing in 2021-2023, said traders who asked not to be identified because they aren’t authorized to speak publicly. JPMorgan Chase ...

  Bloomberg Creditors of India’s largest paper maker Ballarpur Industries Ltd. may face costly unintended consequences from punitive US duties on some of the company’s Asian competitors. Ballarpur invested heavily in recent years to modernize its production facilities, and now may not be able to avoid defaulting on its debts, Fitch Ratings Ltd. said. The imposition by the US of ...

  Bloomberg Toshiba Corp., reeling from an impending multibillion-dollar writedown in its Westinghouse Electric unit, has been battered to the point where a possible bankruptcy of the nuclear equipment business is being cheered by investors. Shares in the electronics conglomerate rose 6.9 percent in Tokyo, the most in a month, after Toshiba said Westinghouse’s board will decide whether to file ...

  Bloomberg Algeria’s state-run energy producer plans to boost crude oil output by 14 percent in the four years to 2019 and invest billions of dollars in exploration projects. Sonatrach Group expects to invest $9 billion from 2017 to 2021 in its search for new deposits of oil and natural gas, said Farid Djettou, head of the company’s associations division, ...

  Bloomberg Daewoo Shipbuilding & Marine Engineering Co. could receive another lifeline from lenders as the world’s biggest shipbuilder needs cash to complete work on pending orders to stay afloat. Korea Development Bank and Export-Import Bank of Korea will provide 2.9 trillion won ($2.6 billion) in additional loans and swap about 1.6 trillion won of debt to equity, Korea Development ...

  Bloomberg It may be one of the smallest economies in Asia, but Vietnam is among those leading the infrastructure race. Vietnam’s public and private sector infrastructure investment averaged 5.7 percent of gross domestic product in recent years, the highest in Southeast Asia and compares with 6.8 percent in China, according to the Asian Development Bank. Indonesia and the Philippines ...

  Bloomberg Bosses of Britain’s public companies rarely look forward to facing off with their shareholders, but the run-up to this year’s annual general meeting season is provoking a particularly strong sense of anxiety. Executive pay is high on the political agenda, with the government wrapping up a consultation exercise on the issue just last month and Prime Minister Theresa ...

  Bloomberg General Motors Co. is trying to make up for lost time with its redesigned Chevrolet Equinox. While the largest US automakers’ competitors have pumped out new and refreshed sport utility vehicles to cash in on the booming segment, GM soldiered on with an Equinox that last underwent major changes seven years ago. Equinox deliveries slumped 13 percent in ...