News

  Abu Dhabi / Emirates Business ADNOC Distribution announced the opening of two new Xpress stations in Abu Dhabi city as part of phase one of its plan to open 10 such stations to service the most congested areas of the city and its suburbs. The new stations are Al Qurm Xpress station, located on Sheikh Zayed Road, and Al ...

  Dubai/ Emirates Business INJAZ UAE and Tejar Dubai, joined forces to kick off the annual global Company Program Competition cycle at the Dubai Chamber of Commerce and Industry’s head office; launching high school teams as part of an entrepreneurship accelerator event. More than 150 enthusiastic Emirati youth took part in the event, which was attended by Dubai Chamber’s Chairman, ...

  Dubai / Emirates Business A household name in Pakistan and amongst the top 5 business conglomerates of the country, Sufi Group of Companies has launched its popular Simply Sufi range of ready-to-cook and fully-cooked chicken products in the UAE. The wide range of delicacies– numbering 21 in total – especially caters to Asian taste buds with products ranging from ...

  Bloomberg Toshiba Corp. is sending letters soliciting offers for its memory chip business this week and seeking bids that value it at about 1.5 trillion yen ($13 billion), according to people familiar with the matter. The Japanese conglomerate is offering a majority stake in the chip unit and would be willing to sell the entire business, said the people, ...

  Bloomberg China’s official factory gauge firmed in February as producer prices rebounded, giving top officials gathering in Beijing a solid economic backdrop as they seek to rein in financial risk. Manufacturing purchasing managers index climbed to 51.6 in February, compared with a median estimate of 51.2 in a Bloomberg survey of economists and 51.3 in January. Non-manufacturing PMI stood ...

  Bloomberg India’s economy is forecast to slow less than estimated as banks work to replace cash sucked out by Prime Minister Narendra Modi’s shock clampdown in November. Gross domestic product will probably grow 7.1 percent in the year through March after a 7.9 percent expansion the previous year, the Statistics Ministry said in a statement in New Delhi. While ...

  Bloomberg After years of disappointment, a quiet revolution may be underway in the Japanese stock market. Japan’s companies have for years sat on record piles of cash — the equivalent of $2.4 trillion in September, the most in the world. The issue has been deploying those funds for shareholder benefit. A key part of Abenomics has been sharpening the ...

  Bloomberg Sasol Ltd., the world’s biggest producer of liquid fuels from coal, said the first units at its Lake Charles chemical project will start operating in 2018, as the company reported lower first-half profit because of currency losses and a strike. The Lake Charles project is 64 percent complete and still within its $11 billion budget, co-Chief Executive Officer ...

  Bloomberg Shares of US refiners pared gains after President Donald Trump’s administration denied that it was considering a proposal to change biofuel blending rules. Billionaire investor Carl Icahn and the leading US biofuel trade group struck a deal to revamp a law that mandates oil refiners to either blend petroleum-based fuels with ethanol and biodiesel, or buy blending credits ...

  Bloomberg BP Plc said it will need a crude price of about $40 a barrel in 2021 to cover spending and dividends, down from $60 this year, as Chief Executive Officer Bob Dudley seeks to reassure investors on the oil major’s growth outlook and finances. The break-even level will fall as BP keeps capital spending at no more than ...