News

  DUBAI / Emirates Business The third Global Islamic Economy Summit 2016 is all set to start at Madinat Jumeirah in Dubai under the theme “Inspiring Change”. Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the two-day summit is organised by Dubai Chamber of ...

  Beijing / AFP Chinese internet billionaire Jack Ma has bought a stake in cinema legend Steven Spielberg’s company, they said, the latest tie-up between China and Hollywood as they seek to make movies for audiences in the Middle Kingdom and beyond. Alibaba Pictures, a unit of Ma’s sprawling e-commerce conglomerate, has taken a minority shareholding in Spielberg’s Amblin Partners, ...

  HANOI / AP A court in central Vietnam rejected lawsuits from hundreds of fishermen seeking compensation from a Taiwanese steel company for losses caused by its release of toxic chemicals that killed a large number of fish and caused one of the country’s worst environmental disasters. Catholic priest Dang Huu Nam, who helped the fishermen file the lawsuits at ...

  Singapore / AFP Beleaguered Asian commodities trader Noble Group said on Monday it has agreed to sell its North American energy business to US power generator Calpine Corp for a total $1.05 billion. The Singapore-listed firm said the sale brings it closer to completing an initiative to raise $2.0 billion in capital as it strengthens its finances to turn ...

  Colombo / AFP Sri Lanka aims to make a record $3.5 billion from tourism this year on the back of its improved rights record under a new government after years of ethnic war, its tourism minister said on Monday. Tourism on the Indian Ocean island suffered heavily during a decades-long civil war that ended in 2009, but has been ...

  Bloomberg Foreign ownership of Malaysian government bonds dropped in September for the first time in 12 months, with the outflows likely to have been triggered largely by debt maturities. Overseas holdings decreased 0.4 percent to 213 billion ringgit ($51.4 billion), after climbing to a record in August, according to central bank data released in Kuala Lumpur on Monday. Sovereign ...

DUBAI / WAM Smart Dubai will bring together 55 partners from the government and private sector for the first collaborative exhibition to showcase a true smart city experience for Dubai. The exhibition will take place in a 3,800-square-metre pavilion during the 36th edition of Gitex Technology Week 2016 from October 16-20. An initiative, Smart Dubai is anchored in the vision ...

  Abu Dhabi / EMIRATES BUSINESS HE Engineer Sultan Bin Saeed Al Mansoori, UAE Minister of Economy, will be leading the country’s first government and economic trade delegation to visit the Republic of Bulgaria on October 11-13. The official visit is aimed towards promoting economic trade and investment cooperation between the two countries, placing strong focus on key sectors like ...

  Sharjah / WAM Air Arabia, the Sharjah-based low cost carrier, has been ranked number three on Airfinance journal’s list of top 50 global airlines. The list includes an evaluation of the performance of 137 airlines, based on a set of “operational and financial parameters, including Total Revenue, Net Income, Passenger Yield, Liquidity, and Leverage,” according to an Air Arabia ...

  DUBAI / WAM S.S. Lootah International has signed an AED184 million agreement with Oromia International Bank SC of Ethiopia to provide assistance in the coffee, agriculture and livestock sectors. The agreement was signed during the Dubai Chamber of Commerce and Industry-led trade mission to Addis Ababa. The agreement covers financing requirements for exports of production, export financing, warehousing and ...