News

  Emirates Business Cerba healthcare and Menalabs Management F.Z. L.L.C have jointly announced that they have established a partnership to accelerate and expand the presence of both companies in the Middle East and Levant regions. Under the agreement, Cerba healthcare will own 51% of MENALABS and will operate under the name of Menalabs, A Division of Cerba healthcare. It will ...

  Sharjah / Emirates Business The Heart of Sharjah (HOS), the largest heritage tourism project undertaken by Sharjah Investment and Development Authority (Shurooq), has been decorated with colourful lights and lanterns in celebration of Ramadan. The enhancement of the area has been undertaken in conjunction with an extension of its store working hours to facilitate Ramadan timings and attract more ...

  Winnipeg / Reuters Saudi Arabia’s agriculture company has taken control of the majority investor in grain handler G3 Canada Limited, according to a filing, reducing Bunge Ltd’s stake and strengthening the kingdom’s efforts to secure food supplies. G3 Global Holdings, the joint venture of U.S. agribusiness Bunge and Saudi Agricultural and Livestock Investment Co (SALIC), bought 50.1 percent of ...

  Dubai / Emirates Business Gidea Technology Company launched a new service to the payment sector market in Saudi Arabia, which facilitates the linking system of electronic for Saudi banks with UnionPay network “the global payment network that serves the world’s largest cardholder base” through the Saudi Payments Network System (MADA) in cooperation with the Saudi Arabian Monetary Agency. It ...

  Dubai / Emirates Business Nissan has signed a historic Memorandum of Understanding (MoU) with the Greater Amman Municipality in Jordan as part of a landmark initiative to provide the Kingdom with its first 100 Nissan LEAF and Nissan e-NV200 electric vehicles (EVs). The vehicles, to be supplied by Bustami & Saheb (BSTC), Nissan’s exclusive distributor in the Kingdom, will ...

  Bloomberg The IMF weighed in once more with its thoughts on Britain’s referendum, warning the U.K. could slide into a recession if it quits the EU. In a 64-page document, the Washington-based fund said that the size of the hit would depend on a multitude of factors, though its overall assessment is that the U.K. “would likely be worse ...

  Bloomberg It’s almost upon us: the week when Britain takes the historic decision of whether to remain in the EU. And whatever the polls say in the days to come — and regardless of the result on June 24 — the pound is set for a wild ride. One-week anticipated volatility surged to the highest on record, posting the ...

  Bloomberg The surge in demand for sovereign debt that drove yields on German government bonds to record lows this week is poised to resume before the U.K. referendum on EU membership on June 23. While yields on the Germany’s 10-year bunds halted a three-week decline on Friday, they dropped below zero on June 14 for the first time on ...

  Bloomberg The U.S. and the European Union should impose stronger sanctions against Russia to kill the country’s plan for a natural gas pipeline supplying Germany because it would raise prices for consumers and jeopardize energy security, said Andriy Kobolyev, chief executive officer of National JSC Naftogaz of Ukraine. Naftogaz, Ukraine’s state oil and gas company, is calling on the ...

  Bloomberg Prices fell and volume surged in a week of heightened anxiety for U.S. investors, whose dreams of reaching a record high anytime soon all but faded away. A streak of six weeks without a 1 percent drop was broken as the S&P 500 Index dropped 1.2 percent to 2,071.22, the worst retreat since April. Shares slid on four ...