News

  SHARJAH / Emirates Business His Highness Sheikh Dr Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, will witness the launch of the region’s largest children’s reading event on Wednesday at 10:00 AM, as more than 2,093 activities and 123 international exhibitors focus on the needs, trends, issues and solutions of young readers at ...

  Abu Dhabi / Emirates Business The Masdar Institute of Science and Technology (MIST), a research-driven graduate-level institution focused on advanced energy and sustainable technologies, and Al Yahsat Satellite Communications Company (Yahsat), have announced the launch of the Yahsat Space Laboratory. Masdar Institute is a part of the newly-established Khalifa University of Science and Technology. Launched by officials from Masdar ...

  DUBAI / Emirates Business The winners of the Top CEO Awards 2017 were announced, following the successful conclusion of the Top CEO Conference on April 11. The award ceremony was hosted at the Bay La Sun Hotel & Marina, King Abdullah Economic City, where the event made its Saudi Arabian debut. It is is organised by TRENDS magazine in ...

  Bloomberg Oil declined below $53 a barrel as the US continued to ramp up drilling, stoking concern that the nation’s surge in output this year will offset OPEC-led efforts to cut a global supply surplus. Futures fell as much as 1 percent in New York, paring last week’s 1.8 percent advance. US explorers added 11 rigs last week, capping ...

  Bloomberg South Korea’s National Pension Service agreed to restructure 1.55 trillion won ($1.4 billion) of bonds issued by Daewoo Shipbuilding & Marine Engineering Co., helping the world’s largest shipbuilder tide over a payment crisis that had threatened to almost shut the company. An agreement came after Daewoo, the Korea Development Bank and Export-Import Bank of Korea took steps to ...

  Bloomberg Tokyo’s skyline is set to welcome 45 new skyscrapers by the time city hosts the Olympics in 2020, as a surge of buildings planned in the early years of Abenomics near completion. Japan’s capital will see nearly 50 percent more new high-rise space in the next three years than it did in the preceding three, Toyokazu Imazeki, chief ...

  Bloomberg Ant Financial raised its agreed offer for MoneyGram International Inc. by 36 percent as the financial-services company controlled by Chinese billionaire Jack Ma tries to top a competing offer and overcome security concerns. The revised bid is worth $18 a share in cash, up from a previous offer of $13.25, the companies said in a joint statement. The ...

  Bloomberg India, the world’s second-biggest consumer of urea, is boosting production of the crop nutrient seeking to end imports in the next five years. The South Asian nation, where agriculture makes up about 14 percent of the economy, produced 24.5 million tons of urea in the year ended March 2016, compared with consumption of around 32 million tons during ...

  Bloomberg Bain Capital agreed to invest about $816 million in Hugel Inc. to gain control of the South Korea-based maker of beauty products, including botox. Hugel shares rose by the most this year, pacing gains by a rival maker of the anti-wrinkle treatment. Bain will pay 354.7 billion won ($312 million) for 985,217 new shares in Hugel and 100 ...

  Bloomberg Chemical companies are preparing for a potentially disruptive Brexit as the UK withdrawal from the European Union threatens an integrated market underpinning more than 40 billion euros ($42 billion) a year in two-way trade. Marco Mensink, director general of the European Chemical Industry Council representing manufacturers such as BASF SE, Akzo Nobel NV and Dupont Co., said the ...