News

  Abu Dhabi / Emirates Business ADNOC Distribution announced on Monday the opening of a Vehicle Inspection Centre (VIC) for light vehicles within the Motor World service station located in the Al Shamkha area in Abu Dhabi. The opening ceremony was attended by Saeed Mubarak Al Rashdi, Acting Chief Executive Officer of ADNOC Distribution, Brigadier Ali Khalfan Al Dhaheri, Director-General ...

  Abu Dhabi / Emirates Business Etihad Airways Engineering signed an agreement with Kenya Airways to perform mandatory checks on its Boeing 787-8 fleet. This is part of an integration programme for the newest additions to the airline’s fleet. The first of six scheduled Boeing 787 C-checks begins this month, with the last one planned for October 2017. The airline ...

  Sharjah / Emirates Business The UK’s famous ‘Ministry of Science Live’ is coming to Sharjah with a brand new show and some bizarre new experiments to spread the word that physics is fantastic, chemistry is crazy and that every child has the chance to become a life-changing scientist. Under the theme ‘The world is one classroom’, many elements of ...

  Dubai / Emirates Business “Investing in knowledge is essential in our efforts to reach Mars and explore the universe,” asserted His Excellency Jamal bin Huwaireb, CEO of the Mohammed bin Rashid Al Maktoum Knowledge Foundation (MBRF) on the sidelines of the second workshop of the third annual Nobel Museum. MBRF – a member of the Mohammed bin Rashid Al ...

  Bloomberg OPEC has never taken supply cuts so seriously, and hedge funds are loving it. Investor optimism that West Texas Intermediate oil prices will rise reached an all-time high as the Organization of Petroleum Exporting Countries delivered on pledges to reduce production. The International Energy Agency said the group has achieved a record 90 percent initial compliance with an ...

  Bloomberg For investors considering financing Tanzania’s proposed 27.6 trillion-shilling ($12.3 billion) borrowing program, the government’s handling of its power utility’s debt problems may give pause for thought. Last month, President John Magufuli fired the Tanzania Electric Supply Co.’s chief executive officer and vetoed its decision to raise electricity prices, ignoring International Monetary Fund advice that higher tariffs may help ...

  Bloomberg Singapore’s Finance Minister Heng Swee Keat outlined a set of targeted measures in his budget speech to help the struggling offshore and energy services industry and spur construction. The government will bring forward S$700 million ($493 million) worth of infrastructure spending and defer levies on foreign workers in the marine and process sectors for another year, Heng told ...

  Bloomberg Makeblock Co., a Chinese maker of DIY robotics parts, is seeking to raise funding at a $200 million valuation as the Sequoia Capital-backed startup expands into classrooms and hobbyist’s workshops globally, people familiar with the matter said. The Shenzhen-based company us seeking to raise about 200 million yuan ($29 million) in a series B round, the people said, ...

  Bloomberg Douyu, the live-streaming service backed by Tencent Holdings Ltd. that’s been compared to Amazon’s Twitch, is in talks to raise a billion yuan ($145 million) in funds at a valuation of about $1.2 billion, according to a person familiar with the matter. The three-year-old company, whose name means “fighting fish,” needs capital to expand beyond games-streaming and fend ...

  Bloomberg Japan posted a bigger-than-forecast trade deficit in January as auto exports declined and energy import costs increased. Economists cautioned against reading the single month’s figures negatively, noting that global demand should support Japan exports this year. Exports rose 1.3 percent from a year earlier (versus +5 percent estimate). Imports climbed for the first time in two years, by ...