News

  Bloomberg Sitting in the middle of almost 270 billion tons of coal reserves, the city of Taiyuan in northern China is an unlikely place to look for a leader in the battle for a greener future. This after all was China’s pollution poster child, a grimy industrial city of 4.3-million people that owed its growth to the coalfields of ...

  Bloomberg Mitsui & Co., Japan’s second-biggest trading house, agreed to purchase a 15 percent stake in New Ocean Capital, the asset manager that was founded by XL Group Ltd. and Stone Point Capital to make insurance-related bets. Mitsui also committed $100 million of investment capital to the private fund platform, Bermuda-based New Ocean said recently in a statement. XL, ...

  Madrid / AFP After basking in its best tourist summer season in 15 years, Spain now sees dark clouds on the horizon as popular destinations reach saturation point and holidaymakers are more thrifty, industry experts say. The 2016 summer season proved exceptionally good, with an influx of tourists fleeing other popular destinations recently hit by attacks, said Jose Luis ...

  Washington / AFP The European Union gave Belgium a barely 24-hour ultimatum on Sunday to say whether it can back an EU-Canada trade deal, warning otherwise it will cancel a summit to sign the accord with Ottawa. In an embarrassment for the 28-nation EU, Belgium has so far been unable to sign up to the CETA trade deal because ...

  Bloomberg Time Warner Inc. and AT&T Inc. have survived the evolution of color TV and cable over the decades. Now they’re merging to adapt to the latest technological shifts: smartphones and streaming. More consumers are getting their entertainment online from Netflix Inc. and watching on iPhones instead of TVs. That’s putting pressure on traditional entertainment companies and pay-TV providers. ...

  ABU DHABI / WAM The Executive Committee of Abu Dhabi Executive Council approved an AED104mn project to construct an road network in Al Ain city, at a meeting chaired by Saeed Eid Al Gafli. The project will include the construction of stormwater drainage and sewerage systems as well as drinking water pipelines and the provision of lighting and other ...

  Amman / EMIRATES BUSINESS Masdar, Abu Dhabi’s renewable energy company, completed a key step in the development of the largest solar power plant in the Hashemite Kingdom of Jordan. The Power Purchasing Agreement (PPA) for a 200-megawatt (MW) photovoltaic (PV) plant was signed on Saturday by Mohamed Al Ramahi, Chief Executive Officer of Masdar, and Abdul Fattah Daradkeh, Chief ...

  Dubai / EMIRATES BUSINESS Azizi Developments, a leading UAE-based real estate developer with global reach into international markets, has won ‘Developer of the Year’ award by the Construction Innovation Awards Middle East 2016 which took place on October 19, at the Westin Dubai Mina Seyahi Beach Resort & Marina and it was a glorious affair. The ceremony was presented ...

  DUBAI / EMIRATES BUSINESS The Mohammed Bin Rashid Fund (MBRF) in Dubai SME, the agency of the Department of Economic Development (DED) mandated to develop the small and medium enterprise (SME) sector, announced the launch of a receivable finance facility through ‘Invoice/LPO Finance’ to help entrepreneurs launch their business projects without worrying about operating expenses or funds required to ...

  Sharjah / Emirates Business The Sharjah Investment and Development Authority (Shurooq) wrapped up its recent participation at the 2nd UAE – India Economic Forum 2016 (UIEF), which took place on October 19-20 at Madinat Jumeirah’s Mina A’Salam. Shurooq’s participation at UIEF, headlining as a platinum sponsor for its 2nd edition, resulted with a richer economic outlook on investments between ...