News

  AJMAN / Emirates Business Ajman Chamber of Commerce and Industry signed a Memorandum of Understanding (MoU) with Coface Emirates Services and National General Insurance Company (NGI) to extend trade credit solutions and risk management services to member companies of the Chamber. The agreement, signed by HE Abdullah Omar Al Marzouqi, Executive Director of Membership Registration and Transactions Services at ...

  Abu Dhabi / Emirates Business Café 302, the newbie of Abu Dhabi became the finish post to the MENA’s adventurous biker group on the weekend. Known as Hawks MC, this group encompasses individuals who are professionals of the corporate world with a passion towards biking. They travel together around the country on their massive Harley Davidson machines, which cannot ...

  DUBAI / Emirates Business du’s highly anticipated Cyber Security Conference, which was held at Madinat Jumeirah in Dubai on proved to be a resounding success as luminaries from across the globe shared their knowledge and experience about the threats posed by cyber security, and the opportunities this opened for the development of future technologies. Eminent international speakers raised key ...

  Abu Dhabi / Emirates Business Academics, scholars, heritage specialists and researchers will gather in Abu Dhabi for the 4th GCC Heritage and Oral History conference, on the theme, ‘Technology and Sustainable Gulf Heritage: Archiving Reality and Future Prospects.’ Organised by Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi), the conference will welcome delegates from history and heritage departments ...

  Bloomberg Orange SA’s Egyptian unit is set to become the country’s second 4G mobile-phone operator after acquiring an airwaves license Thursday, joining the state-controlled landline monopoly Telecom Egypt. Orange Egypt will pay $484 million for 2 x 10 megahertz of 4G spectrum and $11.3 million for a virtual fixed-line license, Jean Marc Harion, chief executive officer of the unit, ...

Bloomberg Egypt has appointed Citigroup Inc. as financial adviser to help with a potential sale of its stake in Arab African International Bank, according to people familiar with the matter. Central bank authorities are still determining the size of the holding they want to sell and whether to pursue an initial public offering or a sale to a third party, ...

  Beijing / Bloomberg A merger of Sinochem Group and China National Chemical Corp. would create a new oil-refining challenger to established state-run behemoths that dominate the country’s fuel-making business. The prospective tie-up, combining two companies with assets of more than $100 billion, would create the largest oil refiner behind China Petrochemical Corp. and China National Petroleum Corp., according to ...

  Beijing / AFP One of the disinflationary pressures that’s gripped the global economy for the past five years is abating. China’s factory gate prices — falling since the start of 2012 — turned positive in September, squeaking out an increase of 0.1 percent from a year earlier. Given China’s status as factory to the world, that means prices of ...

  Bloomberg Essar Group, controlled by India’s billionaire Ruia brothers, signed binding agreements to sell a combined 98 percent stake in its refinery unit to Russian energy giant Rosneft PJSC and a consortium of Trafigura and United Capital Partners. The Indian conglomerate agreed to sell 49 percent each of Essar Oil Ltd. to Rosneft and the consortium for an enterprise ...

  BLOOMBERG Steinhoff International Holdings NV agreed to buy Fantastic Holdings Ltd. of Australia for A$361.4 million ($275 million) as the South African retailer seeks to expand its footprint in the southern hemisphere. The company offered A$3.50 a share in cash, a 43 percent premium to Thursday’s closing share price, Fantastic Holdings said in a statement on Friday. The deal ...