News

  Dubai / Emirates Business Dubai Culture & Arts Authority (Dubai Culture), the Emirate’s dedicated entity for heritage, arts and culture, has successfully wrapped up its ‘Reading Corner’ installation at the 2016 edition of Modhesh World. The ‘Reading Corner’ by Dubai’ Culture’s Centre of Studies and Research, focused on inspiring children and young adults from across Dubai to pick up ...

  Emirates Business Azizi Developments, a leading UAE-based real estate developer with global reach into international markets, completed the official handover to owners of its Dubai-based property development – Azizi Yasamine Residence, in Al Furjan. Located just minutes away from the World Expo 2020 site, Azizi Yasamine Residence is a 12-storey property that boasts a mix of one to three-bedroom ...

  Dubai / Emirates Business IMG Worlds of Adventure, the world’s largest indoor theme park, opened its doors on Wednesdayfor the very first time. Wholly owned by the Ilyas and Mustafa Galadari Group and managed by IMG Worlds, IMG Worlds of Adventure is the first international mega-themed park to open in Dubai and will redefine the modern theme park experience ...

Bloomberg Iraq would support a proposal for OPEC and other major oil producers to freeze output at talks in Algeria next month, Prime Minister Haidar Al-Abadi said in Baghdad. The endorsement marks a slight shift by Al-Abadi, who was quoted by Reuters on Aug. 23 saying that Iraq still hadn’t raised production sufficiently. The country’s deputy oil minister, Fayyad Al-Nima, ...

  Reuters Egypt’s state grains buyer GASC received only one offer on Wednesday at its first wheat purchase since reinstating a zero-tolerance policy on ergot fungus, a near complete boycott that underscores the difficulty of sourcing grains under the rule. A ban on the common grain fungus caused huge disruption to Egypt’s massive wheat imports earlier this year, with global ...

  Bloomberg India is aspiring to compete with the likes of Singapore and Hong Kong for foreign entrepreneurs by offering residence in return for investment. Foreigners investing 100 million rupees ($1.5 million) over 18 months, or 250 million rupees over three years, would be eligible to live in India for 10 years, the government said in a statement in New ...

  Bloomberg India has set a one-month deadline to begin implementing steps to resolve a dispute over natural gas that migrated from Oil & Natural Corp.’s offshore block in the Bay of Bengal to the adjoining assets of Reliance Industries Ltd. Oil Minister Dharmendra Pradhan said Wednesday that a government panel has endorsed findings by an outside consultant that studied ...

  Bloomberg Foreign investors’ infatuation with Vietnam is waning. After pumping in $3.4 billion since 2006, overseas traders are set to be net sellers of assets traded on Ho Chi Minh City Stock Exchange this year for the first time in a decade, according to data compiled by Bloomberg. While the benchmark VN Index is near an eight-year high, MSCI ...

  Bloomberg China Evergrande Group’s debt-fueled expansion spree shows no signs of slowing down. Even as soaring interest payments and marketing costs ate into first-half profit, a top executive at the Chinese developer said late Tuesday that the company wants to acquire brokerage and trust companies as well as smaller rivals — deals that would add to about $6 billion ...

  Bloomberg Billionaire Guo Guangchang called China’s peer-to-peer lending industry “basically a scam,” arguing that players in the multi-billion dollar sector, troubled by collapses and frauds, lack the ability to price risk. Guo was responding to a question at a post-earnings briefing by his conglomerate Fosun International Ltd. in Hong Kong about any P2P investments by the firm. Chief Financial ...