News

  Bloomberg China’s crude oil imports increased to the highest in four months, while coal shipments jumped to the most since December 2014 as domestic production of both fuels declines. The world’s biggest energy user imported 32.85 million metric tons of crude in August, according to data released by the General Administration of Customs on Thursday. That’s about 7.77 million ...

  Bloomberg Japan’s economy expanded more than the government initially reported for the second quarter, helped by an upward revision in capital spending, private inventories and public investment. Key Points Gross domestic product expanded by an annualized 0.7 percent in the three months ended June 30, more than the initial reading of 0.2 percent, according to revised data from the ...

  Bloomberg Chinese investors hold just 0.38 percent of Australia’s agricultural land, Treasurer Scott Morrison said, citing a report which he said will allay concern among voters that the Asian nation is buying up farmland on a massive scale. A total of 13.6 percent of agricultural land is held by international investors, with 52 percent of that owned by U.K. ...

  Bloomberg Iron ore shipments from the world’s largest bulk-export terminal in Australia swelled to a record, offering fresh evidence of strong supply and underpinning forecasts of lower prices through the year-end. Exports from Port Hedland totaled 42.9 million metric tons in August from 38.7 million in July and 39.2 million a year earlier, data from the Pilbara Ports Authority ...

  ABU DHABI / WAM The UAE Space Agency announced on Wednesday the details of the National Space Sector Policy endorsed recently by the Cabinet chaired by Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum. The policy aims to build a strong and sustainable space sector in the UAE that supports ...

ABU DHABI / WAM Etihad Airways appointed National Bank of Abu Dhabi (NBAD), to establish an innovative and fully automated Supply Chain Finance programme, which will allow the national airline to extend a range of benefits to its strategic suppliers, while strengthening its supply chain. Supply Chain Finance is a set of solutions that optimises cash flow by allowing companies ...

  Dubai / Bloomberg Dubai Financial Group LLC is working with Citigroup Inc. to find a buyer for its stake in Omani lender Bank Muscat SAOG after the sale was triggered by an agreement with creditors, according to people familiar with the matter. The 12 percent stake is worth about $300 million based on current market prices, according to data ...

  Ras Al Khaimah / Emirates Business RAK Properties PJSC, Ras Al Khaimah’s biggest property developer listed on the Abu Dhabi Stock Exchange, revealed that its Julphar Residence property – the developer’s 24-floor residential tower on Abu Dhabi’s Al Reem Island – will be completed in Q4 2018. Speaking during this week’s Cityscape Global 2016 — the Middle East’s leading ...

  Dubai / WAM Emirates Airline said on Wednesday it expects high passenger traffic on its flights this upcoming weekend as travellers take advantage of the long Eid Al Adha weekend. Over 160,000 travellers will be passing through Emirates Terminal three from Thursday to Saturday, with consistently high passenger loads from Dubai also expected on September 11 and 12, the Dubai ...

  Abu Dhabi / Emirates Business Etisalat announced on Wednesday that it will offer free UAE WiFi by Etisalat – the telco’s high-speed public WiFi across malls, restaurants and cafes for residents in the UAE during Eid Al Adha period from September, 8-17 . UAE WiFi by Etisalat lets UAE’s residents connect to the Internet using their mobile devices in ...