News

  CHIBA / Reuters Inpex Corp’s $37 billion Ichthys Australian liquefied natural gas (LNG) project will start shipping ultra-light crude known as condensate by end-2017 and LNG shipments next year, one of the partners in the development said on Tuesday. The comments from Total Chairman and CEO Patrick Pouyanne suggest further slippage in a project that has in recent months ...

  Bloomberg It didn’t take long for news that China would set up an economic zone near Beijing to touch off an investor frenzy. Within 24 hours of Saturday’s announcement that the government would create the Xiongan area in Hebei province — in the same spirit that Shenzhen and Shanghai’s Pudong was built — hordes of prospective buyers had thronged ...

  Bloomberg Coal India Ltd., the world’s biggest miner of the fuel, missed annual production and shipment targets for at least the fifth year despite reporting record volumes for both. Output grew 2.9 percent to 554.1 million tons during the year ended March, while shipments rose 1.6 percent 543.2 million tons, missing the target of 598.6 million tons for each, ...

  ABU DHABI / WAM UAE stock markets rose on Monday, led by a higher real estate sector, amidst high sentiments among companies and individuals alike. The Abu Dhabi Securities Exchange (ADX) rose for the second straight session supported by a hike in a number of real estate shares and Etisalat’s share which rose to AED17.95, thus edging towards the ...

  SHARJAH / WAM The aviation and tourism industry in the Middle East is set to be a driving force for the region’s economy, according to the 6th Arab Aviation Summit’s white paper report released on Monday. The region is expected to deliver a 5 percent growth, and connect an extra 258 million passengers to and from its airports by ...

  Sharjah / WAM The Sharjah FDI Office (Invest in Sharjah), the FDI office operating under the Government of Sharjah, has announced the emirate’s total foreign direct investment is expected to exceed a record AED 1 billion by the end of the year – an anticipated growth of 15 percent on 2016. The figures are a massive testament to Sharjah’s focus ...

  Sharjah / WAM A report published by Explori, an exhibition industry insights provider, showed the United Arab Emirates has ranked 1st in the MENA region for organising and hosting exhibitions. The report results were revealed during a meeting held by the Global Association of the Exhibition Industry (UFI) at Expo Centre Sharjah. The meeting was presided by Saif Mohammed Al-Midfa, ...

  Dubai / WAM In yet a new sign of the stability of the UAE realty market, the 13th edition of the International Property Show (IPS) the Middle East’s biggest real estate sales platform, started in Dubai, showcasing property worth AED1 trillion, according to real estate sources. IPS is an innovative event held annually in Dubai for international and local companies ...

  Dubai / WAM The Council of Arab Economic Unity, a body of the Arab League, will organise the first Digital Economy Conference at the Dubai International Convention Centre, promoting the theme ‘Seamless e-Commerce’, on May, 1-2, under the patronage of HH Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior. It will provide ...

  Dubai / WAM Expo 2020 Dubai unveiled on Monday the last major design in Al Wasl Plaza – an open space that combines breathtaking design, innovative technology and an intricate domed trellis incorporating a huge immersive projection experience. The plaza will be a unique space at the centre of the 4.38-square kilometre site that will make a dramatic impression on ...