News

  Bloomberg Singapore, which is vying to become a regional center for the trading of liquefied natural gas in Asia, picked Royal Dutch Shell Plc and Pavilion Gas Pte Ltd. as its next suppliers of the fuel. The companies will have exclusive rights to sell 1 million metric tons of LNG annually for up to 3 years, with imports beginning ...

  Bloomberg The number of Samsung Galaxy Note 7 owners demanding compensation for being inconvenienced by the smartphone’s troubles is starting to rise. In what may be the first Note 7 related class-action lawsuit filed in South Korea, 527 smartphone buyers are demanding Samsung Electronics Co. pay each plaintiff about 500,000 won (about $440) for time and effort lost when ...

  Bloomberg Japanese exports fell for a 12th consecutive month in September, rounding out a rough year for manufacturers struggling with a stronger yen and soft global demand. Yet the numbers were better than expected, and export volumes rose last month by the most in nearly two years, prompting some upbeat assessments by economists. “Today’s report confirmed that exports are ...

  AFP India’s Tata Sons dumped Cyrus Mistry as its chairman in a surprise announcement Monday, almost four years after his appointment as the first chief of the conglomerate from outside the Tata family. The decision comes as the steel arm of the sprawling $100 billion conglomerate struggles to offload its loss-making British assets while its carmaking business continues to ...

  ABU DHABI / WAM Abu Dhabi Commercial Bank (ADCB) on Sunday reported its financial results for the nine month period ended September 30, 2016. Ala’a Eraiqat, Member of the Board and Group CEO, commented on the results, saying, “The bank delivered strong financial results for the nine month period of 2016, reporting a net profit AED 3.153 billion and ...

  RIYADH / WAM A UAE delegation, headed by Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy, attended the 35th meeting of the GCC Petroleum Cooperation Committee, which opened in Riyadh on Sunday. The meeting was chaired by Saudi Minister of Energy, Industry and Mineral Resources Khalid bin Abdulaziz Al-Faleh and attended by GCC Secretary General Dr Abdullatif ...

  ABU DHABI / WAM SIAL Middle East 2016, the region’s fastest-growing professional trade exhibition for the food, beverage and hospitality industries, returns to Abu Dhabi National Exhibition Centre, (ADNEC) from December 5-7, under the patronage of HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister of the UAE, Minister of Presidential Affairs and Chairman of the Abu Dhabi ...

  Dubai / EMIRATES BUSINESS Obiang Nguema Mbasogo, President of the Republic of Equatorial Guinea, called upon Emirati investors to benefit from the various attractive investment opportunities offered by his country to overseas investors. Lauding Dubai’s economic growth, Mbasogo expressed his desire to enhance bilateral ties with the emirate’s businesses while assuring them of all cooperation and facilities in entering ...

  SHARJAH / WAM Air Arabia has announced the expansion of its international route network with a new service to Baku, the capital of Azerbaijan, following a joint cooperation between Air Arabia, Azerbaijan Airlines and local authorities. Adel Al Ali, Group Chief Executive Officer of Air Arabia, said, “Baku offers an exciting proposition as a gateway to witness the confluence ...

  ABU DHABI / WAM A delegation of Emirati entrepreneurs are to begin a visit to the US on Monday to learn about American business practices. The visit is being conducted as part of the International Visitor Leadership Programme, IVLP, supervised by the Bureau of Educational and Cultural Affairs at the US Department of State, and has been organised by ...