News

  Bloomberg Japan Display Inc., a struggling Japanese maker of smartphone screens, agreed to a 75 billion yen ($637 million) injection of cash from a government-backed fund. The supplier to Apple Inc. will issue 45 billion yen of convertible debt to Innovation Network Corp. of Japan, already its largest shareholder, Japan Display said in a statement in Tokyo on Wednesday. ...

  Mumbai / AFP Indian internet and telecoms company Reliance Communications said on Wednesday it had agreed to sell its mobile phone tower business to Canadian asset management giant Brookfield for $1.6 billion. Reliance Communications said the deal represented the largest investment by a foreign investor in Indian infrastructure and comes as Brookfield seeks to capitalise on liquidity constraints at ...

  Bloomberg Cyrus Mistry, the ousted chairman of Tata Sons Ltd., wants an Indian court to restrain the family scion from attending board meetings, according to a filing made by the executive against his abrupt dismissal from the post. Mistry also asked the National Company Law Tribunal to appoint an administrator to manage Tata Sons, according to the filing seen ...

  Bloomberg China called for better coordination to cut emissions after a sixth day of heavy smog engulfed much of the northern part of the country and spurred the year’s highest alert. With the toxic haze shrouding the capital Beijing, coastal Tianjin, and surrounding Hebei province, the environmental protection ministry called for cities to coordinate anti-emission measures such as halting ...

  DUBAI / WAM The total trade between Dubai and Spain reached AED3.4 billion during the first half of this year, Dubai Customs revealed. ‘‘Imports, exports and re-exports stood at AED2.77 bn, AED389 million exports, and AED271 mn respectively,’’ said Ahmed Abdul Salam Kazim, Director of Strategy and Corporate Excellence at Dubai Customs, as he briefed a visiting Spanish delegation ...

  DUBAI / WAM The Federal National Council (FNC) on Tuesday endorsed the UAE federal budget for 2017, set in late October by the Cabinet at AED48.7 billion, with a prime focus on education, social development and health. The approval came at a third session of the FNC’s 16th legislative chapter, presided over by Dr. Amal Abdullah Al Qubaisi, Speaker ...

  DUBAI / Emirates Business Dubai’s Department of Finance (DOF) launched the fourth stage of the Smart Fiscal Planning programme (SFP) in a ceremony that witnessed a wide representation of 35 government entities. Launching the new phase followed the DOF’s remarkable progress in implementing the previous phases. Meanwhile, efforts are still being made in order to complete the comprehensive system ...

  DUBAI / Emirates Business Azizi Developments – a leading UAE-based real estate developer with global reach into international markets – announced an unprecedented launch of 50 new developments, which will comprise of residential, commercial and retail space in 2017. The announcement of such a high number of projects, ahead of the festive season and the New Year, demonstrates the ...

  Abu Dhabi / WAM The Board of Directors of the Central Bank of the UAE has approved a number of applications of banks and other financial institutions working in the UAE to expand their activities and open new branches. The decision was taken during the board’s 11th meeting at the Central Bank office in Abu Dhabi, under the chairmanship of ...

  AL AIN / WAM Mohammed bin Zayed Falconry and Desert Physiognomy School, the first institution in the world to teach original Arab falconry traditions, rules and ethics, was officially inaugurated on Tuesday in Al Ain City. Named after His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, ...