News

  Bloomberg Tata Sons Ltd., reversing course after ousting Chairman Cyrus Mistry, plans to seek Indian approval to pay $1.17 billion to estranged partner NTT Docomo Inc. as it looks for an amicable solution to their legal tussle, people with knowledge of the matter said. Ratan Tata, who suddenly returned to the helm of India’s largest conglomerate last week, has ...

  Bloomberg South Korea’s government said it will take steps to ease overheating property markets in Seoul, Sejong, and some areas in Gyeonggi and Busan. Finance Minister Yoo Il-ho said the government will limit resale of rights to buy new apartments and strengthen bidding requirements for new apartments in the regions, while monitoring markets and designating anti-speculation property zones if ...

  ABU DHABI / WAM Abu Dhabi-based National Petroleum Construction Company (NPCC) won a US$141 million (AED 520 million) contract from India’s Oil and Natural Gas Corporation Ltd (ONGC). The project involves replacement of 10 wellhead platform topsides at ONGC’s Mumbai High North and South fields, MHN and MHS, respectively. Out of these 10, four are on the MHN field ...

  Dubai / WAM The Department of Economic Development (DED) in Dubai is launching a consumer choice programme from December so that customers in Dubai’s retail, hospitality and entertainment sectors can rate their experience and share reviews. The bilingual (Arabic and English) programme called ‘Customer Choice’ is being launched by the Commercial Compliance and Consumer Protection (CCCP) sector under DED. ...

  AJMAN / WAM The Ajman Tourism Development Department (ATDD) is set to attend the World Travel Market (WTM), one of the world’s largest trade fairs, taking place from November 7-9 at ExCeL – London. The delegation will focus on promoting the finest of the emirate’s hotels, resorts, cultural and heritage attractions with the aim of attracting more visitors from ...

  ABU DHABI / WAM The Supreme Petroleum Council (SPC), presided over by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces and Vice-Chairman of the SPC, on Wednesday approved the 2030 strategy of Abu Dhabi National Oil Company (ADNOC), five-year business plan and operational budget, aimed ...

  Abu Dhabi / Emirates Business Following the official handover ceremony of the former New Scotland Yard site from London’s Mayor’s Office for Policing and Crime (MOPAC) to Abu Dhabi Financial Group (ADFG), Northacre, London’s leading property development arm and a subsidiary of ADFG, has been appointed to commence the construction and development of the scheme, which will be named ...

  Dubai / WAM The Telecommunication Regulatory Authority (TRA) is participating with a high-level delegation at the World Telecommunication Standardisation Assembly (WTSA) meeting currently being held in the resort of Yasmine Hammamet,Tunisia. The meeting is held every four years with the participation of official delegations from various countries, in addition to more than 1,000 guests interested or involved in the information ...

  Dubai / WAM The Express Mail Service (EMS) in the UAE has grown 49.6 percent in the four years from 2012 to 2015, driven by increased volumes from e-commerce, Small and Medium-sized Enterprises, traders and wholesalers, according to the Emirates Post Group (EPG). Abdullah Mohammed Alashram, Acting CEO of the EPG, shared this information while addressing the EMS General Assembly ...

  Abu Dhabi / Emirates Business The GCC’s successful record of overcoming extreme water scarcity in one of the driest parts of the world will be a cornerstone of the fifth International Water Summit (IWS), to be held in Abu Dhabi in January 2017. All 21 countries in the Middle East and North Africa (MENA) are expected to fall below ...