News

  Dubai / Emirates Business Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economic Development (DED), recently concluded a successful mission to three cities in Italy, interacting with businesses across varied sectors looking at Dubai as a gateway to high-growth markets. Overall, the Dubai FDI delegation met with representatives of 21 companies across the cities of ...

  Dubai / Emirates Business Under patronage of HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, the Dubai Maritime Summit will be launched on Wednesday, to discuss the present and future of world maritime navigation, with a special focus on best practices in maritime innovation, arbitration and human capital ...

Reuters Egypt’s Suez Canal Authority expects revenue to increase to $5.7 billion this year after the waterway was widened, company executive Tamer Hammad said at a maritime conference in Dubai. The figure would be an improvement on the $5.175 billion achieved in 2015 and would continue an increase in revenues seen this year despite slowing global trade and initially sluggish ...

  AFP The Saudi energy minister said on Tuesday that a multi-billion-dollar technology investment fund the kingdom is developing in partnership with Japan’s SoftBank showed its determination to diversify its economy. Khaled al-Falih told an international forum that the proposed new fund “is simply one indication of this determination and the bold steps being taken” to reorient the economy of ...

  Bloomberg China is seeking to build up export markets for its power amid signs the nation has invested too much in new generation plants. State Grid Corp. of China, which runs the majority of the nation’s electricity distribution network, is considering how to build links to India, South Korea, Japan and Southeast Asia, a move that would require billions ...

  Bloomberg Sony Corp.’s second-quarter profit missed estimates, as a one-time charge and stronger yen weighed on profit from financial services and PlayStation games. Operating profit in the period ended September was 45.7 billion yen ($436 million), the Tokyo-based company said in a statement Tuesday. That compares with the 49.7 billion yen average of analysts’ estimates compiled by Bloomberg before ...

  Bloomberg A.P. Moller-Maersk A/S, owner of the world’s largest container line, said mergers like the combination of its three main Japanese rivals provide relief to an ailing industry that has been characterized by over-capacity. Nippon Yusen KK, Mitsui O.S.K. Lines Ltd. and Kawasaki Kisen Kaisha Ltd. said on Monday they plan to merge, giving them control of 7 percent ...

  Bloomberg China’s official factory gauge rose to the highest since July 2014, led by new orders, suggesting the economy’s stabilization continued into the fourth quarter as robust consumption underpins demand. Manufacturing purchasing managers index rose to 51.2 in October, the National Bureau of Statistics said Tuesday, from 50.4 in the prior two months PMI beat all economist forecasts in ...

  Bloomberg Royal Dutch Shell Plc reported third-quarter profit that beat analyst estimates after its acquisition of BG Group Plc boosted oil production, helping to counter a slump in prices. The shares rose. Profit adjusted for one-time items and inventory changes advanced 17 percent from a year earlier to $2.79 billion, Shell said Tuesday. That exceeded the $1.79 billion average ...

  Bloomberg Gasoline in New York jumped the most in almost eight years, and its premium to crude prices soared 60 percent after an explosion and fire in Alabama shut the largest fuel pipeline in the US, killing one person and injuring more. Traders rushed to book cargoes from Europe. December-delivery gasoline rose as much as 15 percent to the ...