News

  Dubai / Emirates Business MEED revealed the finalists for the Daman Corporate Health Awards for 2016. The number of award entrants increased by 32% compared to last year, with the finance, construction and hospitality sectors being represented. ‘’A well- executed corporate wellness plan can serve as an employer’s key differentiator in the market attracting new as well as retaining ...

  Bloomberg Australia rejected bids for electricity network Ausgrid from Hong Kong billionaire Li Ka-shing and State Grid Corp. of China, amid growing opposition to selling infrastructure assets to overseas investors. Treasurer Scott Morrison said it would be contrary to national security to allow the offers to proceed in their current form and said the bidders, which he didn’t name, ...

  Bloomberg Egypt reached an initial agreement with the International Monetary Fund over a $12 billion package designed to restore the confidence of foreign investors and ease a crippling dollar shortage hampering economic growth. The three-year agreement aims to “improve the functioning of the foreign exchange markets, bring down the budget deficit and government debt, and to raise growth and ...

  Bloomberg China’s infrastructure investors have had a tough two weeks, with plugs being pulled on at least $15 billion of potential deals in nuclear power and electricity distribution. Britain and Australia refused to sign off on investments where state-owned Chinese companies were ready to provide much-needed funding. In both cases, the long-term utility programs were halted in the later ...

Bloomberg For Indonesians seeking to bring back billions of dollars stashed overseas, the government just opened up more avenues to park their funds under a tax amnesty plan. Individuals who sign up to the amnesty will be allowed to invest in assets such as gold, property and infrastructure projects, according to the Finance Ministry. Participants can also move funds between ...

  Bloomberg Palm oil imports by India probably fell for a third month in July as some buyers switched to soybean oil. Imports dropped 20 percent to 585,000 metric tons in July from a year earlier, according to the median of five estimates in a Bloomberg survey of processors, brokers and analysts. Total vegetable oil purchases rose 11 percent to ...

  Bloomberg India’s coal ministry, at the urging of state miner Coal India Ltd., is asking the government to levy an environmental tax on a competing fuel in effort to maintain coal’s cost-competitiveness, according to people with knowledge of the matter. Petcoke, an oil-refining by product and a coal substitute, is more polluting than coal and should be subject to ...

  Dubai / Emirates Business Azizi Developments, a leading UAE-based real estate developer with an influence in many international markets, has on Wednesday announced the launch of its 271-unit, “Roy–Mediterranean” services apartment project – a high-end residential offering, with hotel facilities, located in the Al Furjan district of Dubai. Farhad Azizi, CEO of Azizi Developments, said: “Al Furjan, Dubai, is ...

  DUBAI / WAM The UAE prominently featured major developments in its e-services and ranked high in the latest UN Department of Economic and Social Affairs’ (DESA) E-Government Development Index (EDGI) Survey 2016, according to UN DESA’s Vincenzo Aquaro, Chief E-Government Branch, Division for Public Administration and Development Management. The statement reflects the huge success and progress in the country’s ...

  Dubai / Emirates Business The Dubai Airport Freezone Authority (DAFZA) discussed ways to develop mutual economic cooperation with the Spanish Business Council in order to enable Spanish companies to benefit from the available growth potentials at the Freezone, which provides an ideal gateway to the emerging markets in the Middle East, North Africa and South Asian regions (MENASA). This ...