News

  Bloomberg An Indian court issued arrest warrants for Malaysian billionaire T. Ananda Krishnan and Ralph Marshall, deputy chairman at Krishnan-controlled Astro All Asia Networks Plc, in connection with an investigation into alleged phone-license corruption. Krishnan controls Malaysia’s Maxis Group. A court in New Delhi said on Saturday it will split the matters into separate cases for allegations against Krishnan ...

  Bloomberg Six years ago, India’s biggest share sale was in commodities. Now, as the IPO market heats up again, the key to investors’ hearts lies in finance. ICICI Prudential Life Insurance’s float has attracted strong demand, drawing orders of 10.5 times the amount of stock available to raise as much as 60.6 billion rupees ($909 million). It’s the nation’s ...

  Dubai / Emirates Business Trade exhibitions related to technology, real estate, education, healthcare and upcoming themeparks are all set to boost the temporary staff requirements as per Dulsco, a regional leader in human resources and waste management. UAE is one of the most sought after destination in the Middle East for the MICE sector (Meetings, Incentives, Conferences and Exhibitions). ...

  Sharjah / Emirates Business Under the patronage of H.H. Sheikh Dr. Sultan bin Mohammed Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, Expo Centre Sharjah hosts, with the support of the Sharjah Chamber of Commerce and Industry, the 41st edition of the MidEast Watch & Jewellery show from September 27 to October 1. Expo Centre Sharjah ...

  Gordon Haff Special to Emirates Business There lingers the misperception that DevOps is mostly for companies that sport ping-pong tables and have free sushi for lunch. Trendy Web giants out on the technology bleeding edge. Firms that manufacture construction equipment and have large swaths of legacy computer code? Not so much. It’s really not surprising that this misperception exists. ...

  Bloomberg Turkey’s sovereign credit rating was cut to junk by Moody’s Investors Service, which concluded a review initiated after an unsuccessful coup attempt on July 15. Moody’s cited rising risks related to Turkey’s external financing needs and a weakening in its credit fundamentals as economic growth slows. The rating was cut to Ba1 from Baa3, leaving Fitch Ratings as ...

Reuters Vodafone Group Plc is getting squeezed in Egypt as its state-backed partner embarks on a solo push into wireless services — crowding the market with a fourth provider while potentially leaving its U.K.-based ally to fend for itself. To finance its own network, Telecom Egypt may sell its 45 percent stake in an existing venture with Vodafone, according to ...

  Fujairah / WAM Fujairah’s quest to develop its energy sector within the UAE’s national energy strategy has catapulted the country to become a world leading bunkering hub, HH Sheikh Mohammed bin Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah, said on Thursday. “The launch on Wednesday of the first Very Large Crude Carrier Jetty on the Indian Ocean ...

  DUBAI / WAM Foreign investors purchased AED726.2 million worth of shares on the Dubai Financial Market (DFM) and sold AED664.4 million over the week, DFM said on Thursday. Net foreign investment on the market reached AED61.8 million as aggregate buy. Value of shares bought by foreigner investors comprised 48.1 percent of the total value of stocks traded during the ...

  Dubai / EMIRATES BUSINESS Antigua and Barbuda is expecting to see a significant boost in investment and travel from the Middle East. An exclusive exposition style conference is set to take place in October 2016 at Dubai’s Palazzo Versace Hotel highlighting the islands’ exceptional investor and citizenship benefits. Antigua and Barbuda’s low-tax structure, offering investment free from personal income ...