News

  Dubai / Emirates Business As part of its strategy to reach out to the promising markets of the world, especially the African markets and to promote Dubai and its business competitiveness, the Dubai Chamber of Commerce and Industry has finalised preparations for its trade mission to Kenya and Ethiopia from October, 3-7. The 15-member Dubai Chamber delegation, which includes ...

  Dubai / WAM The 18th edition of Water, Energy, Technology, and Environment Exhibition (WETEX) 2016, will be the largest exhibition so far in terms of display area, number of exhibitors, and anticipated number of visitors, according to a top official. “This year, WETEX is expected to attract 1,900 exhibitors from 46 countries around the world, compared with 1,696 exhibitors last ...

  Liverpool / AFP Distracted by a bitter leadership contest, Britain’s main opposition Labour party has struggled to present a vision of Brexit to challenge the ruling Conservatives— and many fear the re-election of Jeremy Corbyn will do little to change this. There are concerns the lack of an alternative could result in a “hard Brexit”, where Britain agrees to ...

  Sao Paulo / AFP Brazilian police on Monday arrested Antonio Palocci, a former finance minister and senior figure in the last two governments, as part of the Petrobras corruption probe, news reports said. Police said only that a former minister was arrested. The state-run Agencia Brasil and other news outlets identified the person as Palocci, 55, who served as ...

  Bloomberg Lanxess AG agreed to buy U.S. competitor Chemtura Corp. for about $2.1 billion in cash, more than doubling the size of its additives business and accelerating a shift towards specialty chemicals. Shareholders of the maker of lubricant additives and flame retardants will get $33.50 a share under the terms of deal, Cologne, Germany-based Lanxess said in a statement ...

  Frankfurt / AFP German business confidence soared to its highest level in more than two years in September, the Ifo economic institute said on Monday, recovering from a post-Brexit slump and signalling a rosier outlook for Europe’s largest economy. The closely-watched index unexpectedly jumped to 109.5 points from 106.3 points in August to reach its highest reading since May ...

  Bloomberg Traders are growing increasingly pessimistic about Mexico’s ability to stave off a credit-rating downgrade. It costs 0.23 percentage point more to insure Mexico’s bonds against nonpayment than debt from lower-rated Panama, based on trading in credit-default swaps. That’s the most in six years. Mexico is also more costly to protect against default than Peru, which shares the same ...

  TOKYO/ AP Japanese Prime Minister Shinzo Abe pledged on Monday to accelerate his mix of policies to prop up Japan’s economic recovery and speed up parliamentary approval of the Trans-Pacific Partnership trade pact. In his policy statement opening the 66-day parliamentary session, Abe outlined an extra set of stimulus measures to help the economic recovery and spur more consumer and ...

  Bloomberg China National Chemical Corp. sought European Union approval for its $43 billion takeover of Syngenta AG, one of a trio of mega-deals reshaping the global agrichemicals industry already described as “quite concentrated” by the bloc’s antitrust chief.The European Commission set an initial Oct. 28 deadline to rule on the deal, according to a website filing on Monday. ChemChina ...

  Manila / AFP Philippine President Rodrigo Duterte said on Monday he would seek closer economic ties with China and Russia, as the local currency and stock market extended declines following Western criticism of his deadly war on crime. The peso hit a seven-year low to the dollar on Monday and foreign investors pulled out from local shares for a ...