News

  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 ...

  London / AFP Britain’s economy grew faster than expected in the third quarter, revised official data showed, indicating no impact yet from the nation’s looming exit from the European Union. Gross domestic product expanded by 0.6 percent in the three months to the end of September, up from the previous estimate of 0.5 percent, the Office for National Statistics ...

  Bloomberg Tesla Motor Inc. and Panasonic Corp. will begin production of solar cells and modules next year at a plant in Buffalo, New York. Production will begin in the summer, with the factory’s output capacity expanding to 1 gigawatt by 2019, the companies said in a statement on Tuesday. Panasonic will invest more than 30 billion yen ($256 million) ...

  Lima / AFP It powers everything we do, yet remains one of our biggest mysteries. But thanks to an unusual Peruvian museum dedicated entirely to the brain, visitors can get up close and personal with the most complex organ in the human body. The “brain library” at the Santo Toribio de Mogrovejo Hospital in Lima has a massive collection ...