News

  Dubai / Emirates Business Malabar Gold & Diamonds’ the leading jewellery retailer won Oman’s ‘Most Trusted Award’ in the jewellery category after a long process of voting by the public. The award was handed over by H E Yahya Al Jabri- Chairman, Capital Markets Authority, Chairman, Special Economic Zone Authority, Duqm to Abdul Salam KP- Group Executive Director, Malabar ...

Abu Dhabi / Emirates Business Masdar Institute of Science and Technology (MIST) and the US National Academy of Sciences (NAS) in partnership with Petroleum Institute (PI), Khalifa University of Science Technology and Research, and New York University Abu Dhabi, on Sunday jointly announced they will host the Fourth Arab-American Frontiers of Science, Engineering and Medicine Symposium in Abu Dhabi. The ...

  Abu Dhabi / Emirates Business According to Xpress Money, one of the world’s most dependable money transfer brands, the remittance industry is possibly one of the few industries that posts year on year growth, despite global market conditions. In 2008, when the world faced an economic meltdown, the remittance industry remained resilient and since 2010, the remittance industry has ...

  Reuters Petrochemicals giant Sabic is scouting for more overseas ventures to ease its dependence on domestic Saudi Arabian natural gas as it pushes ahead with its largest foreign investment with U.S. partner Exxon Mobil. “We do have projects that we evaluate with our existing partners or potential partners… We are a global company, we have the capability to start ...

  Bloomberg Brazil’s state-run oil company Petroleo Brasileiro SA settled four lawsuits brought by investors including Pacific Investment Management Co. after the nation’s biggest-ever corruption case torpedoed the company’s market value. Petrobras’ board approved agreements with Pimco Total Return Fund, Janus Overseas Fund, Dodge & Cox International Stock Fund and Al Shams Investments, according to a statement filed with Brazil’s ...

  Emirates Business Preferred Hotels & Resorts, the world’s largest global provider of sales, marketing and distribution services to independent luxury hotels, continues to expand its Middle East portfolio with the addition of two new five-star hotels in the Kingdom of Saudi Arabia and another five-star hotel in the Kingdom of Bahrain. The three additions consist of a duo of ...

  Jakarta / AFP Apple is battling to gain a foothold in Indonesia after nationalistic regulations hit the US tech giant’s efforts to compete in the booming emerging market against Samsung and other rivals. The iPhone 6S and 7 are yet to be released in Southeast Asia’s top economy as Apple struggles to fulfil requirements that phone makers must have ...

  Beijing / AFP Asian lenders are spending millions of dollars developing applications using blockchain, a technology that promises to slash transaction costs, expedite cross-border payments and reduce the risk of fraud. Banks active in the region from Standard Chartered Plc to National Australia Bank Ltd. have in recent months started developing and testing systems utilizing the distributed-ledger technology in ...

  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, ...