News

  Dubai / Emirates Business Dubai Courts has launched ‘Rased,’ a judicial work indicator, as a major leap in its smart transformation efforts and a boost to its ongoing initiatives to achieve leadership in the judiciary sector. The smart technical system provides a unified tool to enhance corporate governance, effectively attain strategic goals, and promote high excellence in its main ...

  Abu Dhabi / Emirates Business Abu Dhabi Terminals (ADT) announced the arrival of three of the largest ship-to-shore quay cranes in the world to accommodate growing volumes and demand at Khalifa Port Container Terminal (KPCT). Transported from China on specially-built vessels, the latest additions complement the current 9 STS cranes already operational at the facility. The Super Post Panamax ...

  Dubai / WAM In an effort to involve the youth in development initiatives, Shamma bint Sohail Faris AlMazrui, Minister of State for Youth Affairs, launched the title and logo of “Oil Ambassadors” under the Youth Councils’ initiative in local and federal areas. During a meeting with the members of the UAE Youth Council for Oil in Dubai, she said such ...

  Sharjah / Emirates Business Members of the UAE’s Japanese community were recently treated to a sold-out showing of one of their country’s most highly regarded films. The festive screening of ‘Spirited Away’ at Al Qasba, Sharjah’s premier leisure, tourism and family destination, had been sold out weeks in advance, with expatriates from Japan keen to use the occasion as ...

  Bloomberg The purchase of 55,000 tonnes of sugar by Egypt’s state commodity buyer GASC on Monday was a direct, non-tender deal, traders said on Tuesday. GASC, the General Authority for Supply Commodities, said on Monday had bought the white sugar for delivery between Jan. 7 and Jan. 20. Dealers said on Tuesday the purchase was made in Egyptian pounds ...

  Bloomberg Toshiba Corp. can’t get past its accounting problems. The Japanese company, which paid a record fine a year ago for its bookkeeping practices, warned that it may now have to take another charge of several billion dollars related to an acquisition made by US unit Westinghouse Electric. The company’s shares fell 12 percent to 392 yen at the ...

  Bloomberg Profits at industrial firms in China accelerated in November, with raw material producers leading gains, as prices of products such as coal and metals continued to advance. Industrial profits rose 14.5 percent from a year earlier to 774.6 billion yuan ($111 billion), the National Bureau of Statistics said on Tuesday. That compared with the 9.8 percent increase in ...

  Bloomberg A South Korean court handling the bankruptcy case of STX Offshore and Shipbuilding Co., said Tuesday that only a single bidder had submitted a binding proposal to buy the shipyard’s profitable French unit. Italian shipbuilding giant Fincantieri SpA, Netherlands-based Damen Shipyards Group and French state-controlled naval shipbuilder DCNS had initially expressed interest in acquiring STX France, which specialises ...

  Bloomberg A private university in Thailand has begun accepting rice in payment for tuition fees as the nation struggles under a grain glut that’s hurting farm incomes. Students enrolled at Rangsit University in Bangkok’s northern suburbs can pay all or part of next semester’s costs with rice, said Worachat Churdchomjan, a dean who helped set up the program. The ...

  Bloomberg Issuance of CLOs (Collateralized Loan Obligation) in Europe in 2017 may exceed this year’s record for post- crisis sales with a well-stocked pipeline of new deals, no let-up in investor demand and supportive credit conditions. Themes seen in recent months look set to carry over into next year, with the issuer and investor base diversifying, more CLO refinancings ...