News

  Dubai / Emirates Business mCarbon, India’ leading mobile technology service provider, is the largest supplier of airtime advance and credit in the world and has established itself as a clear leader in the space. The company has chosen Dubai as its Middle Eastern headquarters. With 8 million transactions a day, the product touches almost 400 million subscriptions every month. ...

  Dubai / Emirates Business Azizi Developments, a leading UAE-based real estate developer with a global reach into many growing international markets, announced on Thursday that it has been awarded its “Certification of Completion” for its residential building, Azizi Yasamine, in Al Furjan, Dubai. Located minutes away from the World Expo 2020 site, the Azizi Yasamine Residence is a 12-storey ...

  Dubai / Emirates Business In the line with UAEs’ initiative for the care of orphans and minors launched in 2015 by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai and in support of orphan children. The Habtoor Grand Resort in Dubai hosted children, care-givers and administrative staff ...

  Sharjah / Emirates Business du delighted 45 children with disabilities from the Sharjah City for Humanitarian Services (SCHS) in Dubai with a special Arabic premiere of Ice Age: Collision Course at VOX Cinemas in Mirdif City Centre. Regularly engaging fans through its du Tuesday and du Live! platforms, the leading entertainment telco gave the children, accompanied by their parents ...

Bloomberg Countries in the Middle East and North Africa led by Egypt, Kuwait and Morocco are boosting liquefied natural gas import capacity, taking advantage of low prices to meet rising energy demand. The region plans to add permanent terminals and temporary, off-shore units that will increase annual capacity by 58.2 billion cubic meters in 2021, energy lender Arab Petroleum Investment ...

  NEW DELHI / AFP Indian business leaders on Thursday hailed the passage of a landmark tax reform bill that paves the way for a new national sales tax and the creation of a common market across the country for the first time. Lawmakers voted late on Wednesday in favour of introducing the long-awaited Goods and Services Tax (GST), which ...

  Bloomberg Toyota Motor Corp. reported Thursday a 14.5 percent drop in profit for the fiscal first quarter as sales fell and a strong yen slashed earnings for the Japanese automaker. Two powerful quakes in southwestern Kumamoto in April that had disrupted production also hurt results. Toyota’s April-June profit totaled 552.4 billion yen ($5.4 billion), down from 646.3 billion yen ...

  Bloomberg India’s biggest electricity producer plans to fuel a proposed power project on the country’s southern coast with domestic coal, switching from its original plan to use overseas supplies equivalent to almost 9 percent of this year’s forecast imports. The state-owned company NTPC Ltd. made the decision after the federal power ministry and the state government of Andhra Pradesh, ...

  BLOOMBERG South Korea’s Hollys Coffee, which popularized 430-calorie sweet potato lattes as an unusual alternative in the caffeine-addicted country, has started looking for a new owner. Buyout firm IMM Private Equity Inc. has kicked off an auction of its controlling stake in the homegrown cafe chain, which it is seeking to sell for as much as $300 million, according ...

  AFP A string of overseas investments has shone a new spotlight on Chinese conglomerate Fosun, after the mysterious disappearance — and re-emergence — of its tycoon chairman rattled investors. In the space of three days last week, the Shanghai-based company bought a stake in an Indian drugmaker for $1.26 billion, acquired a Brazilian investment firm and announced plans to ...