News

  Dubai / Emirates Business Abu Dhabi Airports has announced that it has completed the final de-propping of the last arch in the roof of the new Midfield Terminal Building (MTB), meaning that the structure is now completely self-supporting. The de-propping took three days and 90 jacking points were used around the building for support while the process was underway. ...

  Dubai / Emirates Business Dubai and Abu Dhabi have been ranked the most expensive cities to live in across the Middle East, according to Mercer’s 2016 Cost of Living Survey. The global rankings see Dubai as the 21st most expensive city in the world, a rise of two places in comparison to last year, with Abu Dhabi, 25th in ...

  Dubai / Emirates Business Following a string of recent awards for its funding activities and treasury practice, Etihad Airways swept top honours at the Treasury Today Adam Smith Awards in London. Etihad Airways’ treasury team collected the highest honour, winning the Top Treasury Team Award for overall excellence. The team also picked up the awards for Best Financing Solution ...

  Beijing / Bloomberg Tencent Holdings Ltd. will lead an $8.6 billion acquisition of gamemaker Supercell Oy, getting its hands on some of the industry’s most popular mobile titles through potentially its largest-ever overseas deal. China’s largest internet company is leading a group that will buy 84 percent of Supercell, including shares held by SoftBank Group Corp. and current and ...

  Sydney / AFP A huge cattle station that pours sediment into the Great Barrier Reef was bought on Wednesday by the government as efforts are stepped up to help the World Heritage site bounce back from mass bleaching. Global warming has been wreaking havoc on the reef, contributing to an unprecedented bleaching event this year that saw much of ...

  Singapore / AP Singapore’s central bank said Wednesday it will make financial investments in the Chinese yuan as part of its official foreign reserves from June, reflecting the currency’s increasing international acceptance. The Monetary Authority of Singapore (MAS) said its decision “recognises the steady and calibrated liberalisation of China’s financial markets, and the growing acceptance of (yuan) assets in the ...

  New Delhi / AFP The gleaming glass atriums and blue-clad “geniuses” that herald the arrival of an Apple store could soon be landing in India, after the government cleared the way for it to open in the rapidly growing smartphone market. Before now, the Silicon Valley giant has been just a bit-player in the country of 1.2 billion, selling ...

  Bloomberg Canadian provinces have reached an agreement with the federal government to expand the Canada Pension Plan, adding new payroll taxes to boost benefits while fulfilling a key pledge made by Prime Minister Justin Trudeau in the 2015 election campaign. The expanded CPP is aimed at countering dwindling workplace pension access for younger generations pinched by a weak economy ...

Bloomberg The real dropped after Federal Reserve Chair Janet Yellen signaled renewed doubts about the strength of the world’s largest economy, offsetting local optimism that Brazil’s government is making inroads toward cleaning up its fiscal house. The currency dropped 0.4 percent to 3.4083 per dollar at 5:10 p.m. in Sao Paulo, after earlier advancing as much as 1.2 percent following ...

  Bloomberg Rio Tinto Group looks like it’s putting about $9 billion of unwanted assets from coal and uranium to Canadian iron ore into a single basket ready to spin off, according to Sanford C. Bernstein. Incoming Chief Executive Officer Jean-Sebastien Jacques on Tuesday revamped the four key divisions of the world’s second-biggest mine operator. The new Energy and Minerals ...