News

  Abu Dhabi / Emirates Business Abu Dhabi National Exhibition Centre (ADNEC) is set to host the second Pakistan Property Exhibition at the eighth edition of the International Real Estate & Investment Show (IREIS 2016), highlighting key real estate investment opportunities in Pakistan and facilitating the investment of the UAE-based non-resident Pakistanis (NRPs) in the bourgeoning real estate market back ...

  Dubai / WAM Dubai Financial Market (DFM) announced on Monday that the rights issue of “Al Ramz Corporation Investment and Development” is due to be tradable on the exchange between October 25, and November 7. Trading of the rights issue enables existing shareholders of the company who do not wish to subscribe to the new shares, which the company plans ...

  Dubai / Emirates Business Emirates NBD, a leading bank in the region has been ranked the ‘Strongest Bank in the UAE’ by the prestigious Asian Banker’s ‘AB 500 Strongest Banks in 2016.’ The bank, the largest in the UAE, was rated highly for its sound growth record and its giant leaps in the digitisation of banking over the past ...

  Dubai / Emirates Business The eighth edition of the biennial Seatrade Maritime Middle East (SMME) exhibition and conference, which takes place in Dubai from October 31 to November 2, at the Dubai World Trade Centre, is organising a conference dedicated to the dynamic and rapidly growing tanker sector. Part of the Dubai Maritime Week, Seatrade Tanker Middle East, takes ...

  AFP Political stalemate and the conflict rocking Libya are preventing the North African country from taking advantage of its vast oil resources and pushing the economy towards collapse, experts say. When the 2011 uprising toppled the regime of dictator Moamer Kadhafi, Libyans dreamt of transforming their country into another Dubai. Today, they have somewhat lower expectations. “To live in ...

  Reuters Oman’s government is covering between 60 and 70 percent of this year’s budget deficit via international borrowing such as eurobond issues, direct placements of debt and other instruments, the central bank’s executive president said. The rest of the deficit will be financed locally by drawing down financial reserves, such as money held by the State General Reserve Fund, ...

  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 ...