News

  DUBAI / WAM The role of commercial arbitration in settlement of disputes and in ensuring an investment-friendly environment was the main topic of discussion at a meeting held by the Dubai International Arbitration Centre (DIAC), with a high-ranking Chinese delegation. The meeting touched on ways of exchanging expertise in areas of arbitration, being an ideal alternative to litigation in resolving ...

  ABU DHABI / WAM Abu Dhabi University, ADU, announced on Thursday its plans to open a new campus in Dubai offering master’s degree programmes in law, business and engineering. The announcement was made during ADU’s participation at Gulf Education & Training Exhibition, GETEX, the leading student recruitment event that’s currently underway in Dubai. The university’s expansion drive is aligned with ...

  Bloomberg The spectacular failure of what was once the world’s biggest renewable-energy company has turned into a smorgasbord of wind and solar farms being gobbled up by infrastructure investors, clean-power developers and even a vegan soccer team. Since filing the largest US bankruptcy of 2016, SunEdison Inc. has hosted the biggest-ever sale of renewables assets. It’s shed at least ...

  Bloomberg Drawn to India by an explosion in metro-rail projects, Alstom SA and Bombardier Inc are now poised to use the nation known for being the world’s back-office as a manufacturing export hub. The French and Canadian multinationals set up manufacturing and engineering operations between 2008 and 2010 to tap into India’s rapidly-growing urban transportation market and will now ...

  Bloomberg PetroVietnam Power Corp., Vietnam’s second-largest power producer, said the sale of a 49 percent stake to strategic investors and through an initial public offering could fetch about $600 million. PV Power, as it is better known, is open to selling as much as 60 percent of the company, contingent on government approval, according to a document posted on ...

  Bloomberg The UK is eyeing a deal with the US to give London-based banks free access to Wall Street, International Trade Secretary Liam Fox said as he predicted Britain’s economy would thrive even without a Brexit deal. In an interview with Bloomberg, Fox said he wanted to open up commerce with the US “in every sector” including financial services, ...

  Bloomberg Europe is likely to end the wheat season with the smallest stockpiles in 13 years. Inventories of wheat held in the European Union will probably plunge 37 percent to 10.1 million metric tons at the end of June, according to Tallage SAS, publisher of the Strategie Grains report. The combination of a poor harvest, strong consumption and higher-than-expected ...

  Dubai / WAM Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, launched on Wednesday the UAE National Space Program and approved the program’s strategy. The ...

  SHARJAH / WAM Sharjah FDI Office Invest in Sharjah the entity responsible for intensifying the Sharjah Government’s efforts to promote the emirate’s business and investment opportunities in key international markets, concluded its maiden trade mission to Italy. During their three-day promotional tour from April 10-12, Invest in Sharjah organised a Sharjah-Italy Seminar in the city of Padua, and participated ...

  DUBAI / WAM Saudi Arabia’s debut US Dollar-denominated Islamic bond has attracted more than US$25 billion of investor orders so far, according to Bloomberg. The fall in global oil prices has prompted the kingdom to prepare what may be the world’s largest initial public offering of state-owned oil company, Saudi Arabian Oil Co, Aramco. The company last week sold ...