News

CAIRO / Reuters Egypt has paid off $750 million of its debt to international oil companies and will make a second payment of the same amount at the start of next month, Central Bank Governor Tarek Amer said. Egypt has struggled to pay arrears to foreign oil and gas companies operating in the country, with outstanding debt at $3.5 billion ...

Bloomberg While Japan’s failure to spur inflation continues to generate angst about the nation’s future, gross domestic product data this week is likely to show that the economy has still managed to eke out five straight quarters of expansion. That would be the best run since 2006, during Japan’s last period of political stability under the leadership of then-Prime Minister ...

Bloomberg “Go west!” is the mantra Taiwanese companies lived by for the best part of three decades, turning China into their biggest trading partner. But with cross-strait relations at their worst in close to a decade, President Tsai Ing-wen is urging firms to turn south. Tsai wants to mitigate reliance on the mainland by bolstering trade with 18 countries in ...

Bloomberg Shares of Tata Steel Ltd. jumped after the Indian steelmaker said it has struck a deal to solve its long-running UK pension standoff, bringing the company a step closer to a possible joint venture with Thyssenkrupp AG for its European operations. The stock climbed as much as 5.1 percent to 479.95 rupees ($7.5) in Mumbai on Wednesday, the biggest ...

Bloomberg Henderson Land Development Co. outbid eight other developers and will pay a record HK$23.3 billion ($3 billion) for the first commercial land to be sold by Hong Kong’s government in the Central district since 1996. The Hong Kong company’s shares fell the most in the Hang Seng Properties Index on Wednesday, sliding as much as 2.9 percent. Henderson Land ...

Bloomberg The UK must “radically” overhaul its approach to trade policy if it is to land post-Brexit deals with other countries, the Institute for Government said. After decades of access to the European Union’s single market, the UK is facing a renegotiation of its trading relationship with the bloc and the need to strike deals with the rest of the ...

Bloomberg Modern office buildings are all the rage in central London, with a swath of companies including UBS Group AG moving into new premises in the last 12 months. The problem for landlords is finding someone to replace them. A growing number of unoccupied older properties caused the overall office vacancy rate to climb to 5.8 percent at the end ...

DUBAI / WAM Dubai Financial Market (DFM) announced on Tuesday that its UAE listed companies have showed a 100 percent compliance to disclose their Q1- 2017 results within the deadline of 45 days from the end of the quarter. Forty-seven UAE public joint stock companies listed on DFM successfully disclosed their quarterly results, with the exception of Al Firdous as ...

Dubai / Emirates Business Dubai Data held a press conference on Tuesday to release findings from the ‘Dubai Data Economic Impact Report’, which the Dubai Smart Office had commissioned to international audit, tax, and advisory firm KPMG. The study provides the Dubai Government with insights into the potential economic impacts of opening and sharing data and includes a methodology for ...

ABU DHABI / Emirates Business Abu Dhabi Convention Bureau, a division of Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi), is spearheading a delegation representing an array of new products to Germany to participate in IMEX Frankfurt 2017, the worldwide exhibition for incentive travel, meetings and events (MICE). The show, which runs from May 16-18, is regarded as Europe’s ...