News

  Dubai / Emirates Business In a move to bring enhanced visa application services to the residents of the UAE, the Embassy of South Africa launched a South Africa Visa Application Centre in Dubai. Services at the centre commenced on February 1. The centre was officially inaugurated by MK Lekgoro, Ambassador of the Republic of South Africa to the UAE, ...

  ABU DHABI / Emirates Business Etihad Airways has been honoured with the 2016 Treasury of the Year award by Treasury Management International (TMI) for a string of achievements over the past 12 months. The annual TMI Corporate Recognition Awards, held in London, reflect achievements in treasury and finance policy, practice and innovation. The Abu Dhabi-based airline’s treasury department was once ...

  Bloomberg STEP Energy Services Ltd., a fracking services provider, plans to raise about C$200 million ($152 million) in the biggest initial public offering in the Canadian oil and gas industry in more than two years. The shares are expected to be sold at C$14 to C$16 a piece, giving the Calgary-based oilfields service firm a valuation of about C$802 ...

  Bloomberg Royal Dutch Shell Plc is unlikely to take on new oil-sands projects as it maintains a grip on costs after crude’s crash forced competitors to write down Canadian reserves. While Shell’s existing oil-sands operations generate strong cash flows, the expense of developing new projects discourages additional investments, Chief Executive Officer Ben Van Beurden said in an interview. Oil ...

  Bloomberg Asia’s infrastructure race is just getting started. Emerging economies across the region will need to invest as much as $26 trillion on building everything from transport networks to clean water through 2030 to maintain growth, eradicate poverty and offset climate change. That’s according to an Asian Development Bank report released on Tuesday that highlights the need for massive ...

  Bloomberg Faced with a shortage of workers, Japanese companies are taking matters into their own hands, helping the government fix a chronic lack of day care that is blunting efforts to get more women into the workforce. Nichiigakkan Co., which provides hospital administration and care services, is among more than 500 companies approved for new subsidies to start their ...

  Bloomberg China’s effort to promote public-private partnerships to fund roads, bridges and railways and keep a lid on rampant debt growth is succeeding in luring companies to the projects. Problem is, they’re mainly state-owned. Two years into the PPP push, the majority of partners in the projects have turned out to be state-owned enterprises, according to analysts at Fitch ...

  WASHINGTON / AP US businesses boosted their orders for long-lasting manufactured goods in January by the largest amount in three months, but a key category that tracks business investment plans slipped. Orders for durable goods rose 1.8 percent in January after two months of declines, the Commerce Department said. The strength stemmed from a big surge in demand for ...

  Bloomberg The indictment of Samsung Electronics Co. de facto chief Jay Y. Lee and four other top executives on bribery and embezzlement charges threatens the company’s ability to make major strategic decisions, including acquisitions and management changes. While the world’s biggest maker of mobile devices has capable managers who will, as before, continue to roll out new products and ...

  Bloomberg Hyperloop Technologies Inc., which is building a super-fast transportation solution based on an idea by billionaire Elon Musk, is in initial talks with the Indian government and companies to partially build and operate the vehicle on some routes, its chief executive officer said. The Los Angeles-based company, known as Hyperloop One, will decide by end of this year ...