News

  Dubai / Emirates Business The Dubai Airport Freezone Authority (DAFZA) performed strongly in 2016, achieving 16 percent net profit growth and posting a 2 percent growth in its total revenue and a 28 percent increase in its total assets and a 3% rise in Earnings Before Interest and Depreciation (EBID). According to official reports, the total leasable area of ...

  Dubai / Emirates Business Emirates National Oil Company (ENOC) introduced its RFID-based technology to fuel DP World’s fleet of vehicles. The new system will also help DP World in monitoring diesel fuel consumption, which not only increases operational efficiency but also manages scheduled vehicle maintenance. The RFID based technology installed by ENOC completely replaces the fuel management system previously ...

  Dubai / Emirates Business The Mohammed bin Rashid Al Maktoum Knowledge Foundation (MBRF) announced its intentions to extend the Nobel Museum until May 4, following directives from His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of the Foundation. MBRF is organising the Museum for the third consecutive year. This year’s edition bears the theme “The Nobel ...

  Dubai / Emirates Business Al Yousuf Motors LLC, the authorized and exclusive dealers of Yamaha products ranging from motorcycles to boats to personal water crafts, showcased its wide array of waverunners, speed boats, and water vehicles at the 25th Dubai International Boat Show at Dubai International Marine Club in Mina Seyahi. One of the key highlights of the adventure ...

  Dubai / Emirates Business Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) announced updates to the Desert Tour & Camp regulations first introduced in May 2016. The revisions are intended to further enhance the emirate’s popular desert experiences, elevating the sector’s standards and bolstering Dubai’s reputation as an adventure hub with a distinct and diverse offering. Dubai Tourism ...

  Bloomberg Libya halted exports from its two of biggest oil ports and reduced production from some fields after clashes threatened to reverse the North African country’s progress in reviving crude output and sales. Shipments from Es Sider, the country’s largest oil port, and Ras Lanuf, its third-biggest, have been suspended until the security situation improves and workers return to ...

  Bloomberg Nigeria has filed criminal charges of corruption against oil multinationals Royal Dutch Shell and Eni over the $1.1 billion sale of one of Africa’s richest oil blocks. Both companies have denied any wrongdoing. Charges filed at the High Court in Nigeria’s capital, Abuja, allege the companies paid $801 million to former Oil Minister Dan Etete, former Justice Minister ...

  Bloomberg Iraqi oil shipments of about 105,000 barrels a day were halted briefly after Kurdish troops seized control of a pumping station in disputed Kirkuk province and demanded that crude shipments to the country’s central government be stopped. Oil from Kirkuk stopped flowing into a Kurdish-built export pipeline to Turkey after fighters loyal to the Patriotic Union of Kurdistan ...

  Bloomberg China set a 2017 growth target of “around 6.5 percent, or higher if possible” as focus shifts to easing risk and ensuring stability before a twice-a-decade leadership transition this year. The objective outlined on Sunday in Premier Li Keqiang’s work report to the National People’s Congress in Beijing compares with last year’s target range of 6.5 percent to ...

  Bloomberg India’s surprising economic strength last quarter will only renew debate over how much its unprecedented cash ban has curtailed growth and how quickly activity will bounce back. While the Reserve Bank of India and the government are backing a sharp V-shaped recovery, analysts including those at the local unit of Moody’s Ratings predict a slower turnaround after growth ...