News

Bloomberg Noble Group Ltd. shares extended their decline to the lowest level since 2000 amid rising investor concern that the embattled commodity trader may not be able to engineer a turnaround even as it presses on in talks with core banks to try to secure more funding. The stock tumbled as much as 11 percent to 28.5 Singapore cents and ...

Bloomberg Congress should extend the US government’s borrowing authority before lawmakers depart for their traditional August vacation, the White House said, as the Trump administration sought to ratchet up pressure on Capitol Hill to avoid an unprecedented default on the national debt. “We’re looking for before they adjourn for August recess,” White House legislative affairs director Marc Short told reporters ...

Bloomberg BHP Billiton Ltd.’s board is being targeted for a sweeping overhaul by Tribeca Global Natural Resources Fund, opening a potential new front in the burgeoning activist campaign against the world’s biggest mining company. The Sydney-based hedge fund, which last month joined billionaire Paul Singer’s Elliott Management Corp. in calling for changes aimed at shifting strategy at BHP, believes about ...

Dubai / Emirates Business The UAE’s free trade zones are using advanced information management tools to drive the doubling of the global free trade zone GDP, experts announced. Globally, the contribution of free trade zones to the Islamic Economy is set to double to USD 117 billion by 2021, according to a recent report by researchers Salaam Gateway. The UAE ...

ABU DHABI / WAM The total monetary aggregate issued in the UAE amounted to AED78.3 billion during the first third of 2017, an increase of AED790 million over the end of 2016, according to UAE Central Bank statistics. According to CB figures, the total banknotes issued by the bank by the end of April are valued at AED77.2 billion, a ...

Dubai / Emirates Business The 2017 Bayt.com Middle East and North Africa Salary Survey, conducted by Bayt.com, the Middle East’s number one job site, and YouGov, a leading market research agency, revealed that almost half (44%) of UAE respondents believe that salaries are increasing in the UAE, and 24% believe that they are staying the same. In terms of current ...

ABU DHABI / WAM Dubai Municipality has started a project for the irrigation network and beautification of Al Khail Road from the Business Bay crossing to the Zabeel 1 intersection at a cost of AED30 million, to be completed within nine months, said Mohammed Ahmed, Acting Director of Sewage and Irrigation Department in Dubai Municipality. He added that the project ...

Abu Dhabi / Emirates Business New figures from Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi) show that Abu Dhabi welcomed 1.6 million guest arrivals year to end of April, a 7% growth compared to the same period in 2016, As a single month, April has continued to build on the strong performance of the opening quarter of the ...

Dubai / Emirates Business Tejar Dubai, an initiative of the Dubai Chamber of Commerce and Industry, recently launched SWOT Specialized Professional Institute (SSPI), a new training institute in Dubai’s Garhoud area which specialisies in aviation, logistics, and cargo safety. The institute is the 28th commercial project to be launched by Tejar Dubai to date, while it is also the third ...

Dubai / Emirates Business Emirates Insolaire LLC, a pioneer in the development of new solar technologies and a joint venture of Dubai Investments PJSC and SwissINSO Holding Inc., received strong enquiries for its sustainable, energy-efficient coloured solar panel technology, reinforcing the surging demand for Building-Integrated Photovoltaics [BIPV] across the globe. Emirates Insolaire, which offers the world’s-first Kromatix coloured solar panels ...