News

  Dubai / Emirates Business Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has been named as the ‘Preferred Remittance Centre of the Year’ at The Filipino Times (TFT) Awards 2016. TFT Awards aims to recognize the most influential brands amongst the Filipino community as well as acknowledge the brands that Filipinos love the most. Husam ...

  Dubai / Emirates Business Abu Dhabi Airports has installed a new Automated Tray Return System (ATRS) to speed up the process of hand luggage screening at Terminal 3 in Abu Dhabi International Airport (AUH). The new system allows for the processing of more than four times the number of baggage that conventional screening lanes do, reducing screening wait times ...

  Dubai / WAM Passenger traffic at Dubai World Central (DWC) increased by more than 95 per cent in the first half of 2016, according to a report issued by Dubai Airports. The first six months of the year saw passenger traffic reach 410,278, up 95.4 per cent compared to 209,989 passengers recorded during the corresponding period in 2015. Passenger traffic ...

  Sharjah / WAM The Sharjah Chamber of Commerce and Industry (SCCI), has announced that September 29 would be the deadline to receive entries for the Sharjah Economic Excellence Network (ShjSEEN) Award, which is aimed at spreading the culture of quality and excellence among the private sector various bodies and implementing the practices which contribute in setting comprehensive quality standards and ...

  Bloomberg China National Chemical Corp. received approval from U.S. national security officials for its takeover of Swiss agrochemical and seeds company Syngenta AG, seen as the biggest regulatory hurdle that the $43 billion acquisition faces. The Committee on Foreign Investment in the U.S. has cleared the transaction, the companies said in a statement on Monday. The deal, expected to ...

  Bloomberg NTPC Ltd., India’s biggest power producer, reported a 4 percent increase in its first-quarter profit on the back of higher energy sales. Profit for the three months ended June 30 rose to 23.7 billion rupees ($353 million) from 22.76 billion rupees a year ago, according to a stock exchange filing. Revenue climbed 11 percent to 189.4 billion rupees ...

  Bloomberg Shanghai Electric Power Co. said it’s seeking a stake in K-Electric Ltd., the $2.3 billion Pakistani utility, in what could become its largest overseas deal. The Chinese company is doing preliminary preparation work on acquiring a stake in K-Electric and hasn’t decided how much it will buy, it said in a Shanghai exchange filing Monday. Shanghai Electric Power ...

  Bloomberg Developer Bo San had already sold all the units in his 12-story high-rise in Yangon in Myanmar when he was forced to halt construction. Three months later he faces the task of having to remove two floors to comply with new height regulations, at a cost of $8 million. Since May, the regional government of Aung San Suu ...

  Bloomberg Japan’s Renesas Electronics Corp. is in talks to acquire U.S. chipmaker Intersil Corp. for about 300 billion yen ($3 billion), a person with knowledge of the matter said. No agreement has been reached, and the discussions may not result in a deal, the person said, asking not to be identified as the information is private. Renesas shares erased ...

  ABU DHABI / Emirates Business Continuous improvement, innovation, and environmental sensitivity have become the watchwords for the cleaning industry in the region as more and more companies in the sector are sourcing products and equipment keeping sustainability in mind. Globally, the market for green cleaning products is expected to reach US$51 billion in value terms with a CAGR of ...