News

  Bloomberg The standoff between Tata Group’s patriarch and his estranged successor intensified in India’s biggest feud since a quarrel between the billionaire Ambani brothers broke out more than a decade ago. The Ratan Tata-led camp, which last month ousted Cyrus Mistry as chairman of the nation’s largest conglomerate, on Wednesday took steps to muscle Mistry out of the group’s ...

  London / AFP World stock markets reacted with a sharp initial downturn to maverick Republican Donald Trump’s shock election win on Wednesday, but quickly recovered their poise with surprising resilience. Asia kicked off a ‘Trump slump”, with Tokyo diving on concerns over the untested policies of the billionaire businessman and reality TV star. Europe followed suit, tipping about two ...

  Dubai / WAM Jebel Ali Free Zone (Jafza) and Investe Sao Paulo, a Brazil-based investment promotion agency signed a memorandum of understanding (MoU) to leverage Dubai as a business promotion hub to reach countries and customers in the GCC, Northern Africa, Asia and more. Sultan Ahmed bin Sulayem, Group Chairman and Chief Executive Officer of DP World, and Chairman ...

  DUBAI / WAM Dubai Electricity and Water Authority (DEWA) confirmed that the ACWA Power and Harbin Electric consortium has begun construction of the 2,400 megawatt (MW) Hassyan clean coal power station, based on the Independent Power Producer (IPP) procurement model. The plant will be the first of its kind in the region and is fully-compliant with set international standards, ...

  Dubai / WAM Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum inaugurated the second phase of the Dubai Water Canal, a 12 kilometre waterway that connects Dubai Creek with the Arabian Gulf. The Dubai Water Canal project has been built at a cost of AED 3.7 billion. Crown ...

  Abu Dhabi / WAM Ways to promote relations between the UAE and Armenia, and regional and international issues of common concern were the focus of talks held on Wednesday between His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Armenian President Serzh Sargsyan, who is on ...

  Dubai / Emirates Business Danube Properties, UAE’s leading property developer, announced the launch of their new AED 400 million project ‘Miraclz’ located at Dubai’s Arjaan neighborhood close to Miracle Garden. The project was announced at a press conference held at the Danube Properties Headquarters, where the residential tower was unveiled by the Founder and Chairman of Danube Group, Rizwan ...

  Dubai / Emirates Business Joyalukkas is all set to open its first showroom in the USA. This will now be the 12th country to have the presence of the world’s favourite jeweller thereby giving Joyalukkas a truly global presence. The opening of the new Joyalukkas showroom in Hilcroft, Houston is a sparkling example of a well planned and successful ...

  Dubai / Emirates Business The first Investment Attraction Desk in the UAE was launched in Dubai on Wednesday during the ‘Invest in Italy 2016’ roadshow attended by Ivan Scalfarotto MP, Italian Secretary of State, International Trade & Investment Attraction and HE Liborio Stellino, Italian Ambassador to the UAE. The launch was successfully attended by more than 100 investors, businessmen ...

  Dubai / Emirates Business The key to DP World’s success in Latin America will be the replication of the model it uses in Dubai, the company’s Group Chairman and Chief Executive Officer, His Excellency Sultan Ahmed Bin Sulayem said. Addressing delegates at the inaugural Global Business Forum on Latin America at the Atlantis the Palm hotel in Dubai on ...