News

  Abu Dhabi / Emirates Business A UAE delegation headed by the Ministry of Economy is currently participating in the 14th United Nations Conference on Trade and Development (UNCTAD 14) which officially launched in the Kenyan capital of Nairobi under the theme ‘From decision to action: Moving towards an inclusive and equitable global economic environment for trade and development.’ The ...

  DUBAI / WAM Continuing its local and global successes, Emirates Central Cooling Systems Corporation, Empower, the world’s largest district cooling services provider, signed a contract with Nakheel to provide district cooling services to Jumeirah Village Circle and Jumeirah Village Triangle, with a total value of AED1.8 billion. Empower will build up to 6 cooling plants in the two locations, ...

  ABU DHABI / Emirates Business The Arab Brazilian Chamber of Commerce noted thriving trade between Brazil and the Arab World as attested to by the impressive numbers issued by the organization covering Brazilian exports to Arab countries during the first half of 2016. These positive numbers reflect the great strides that companies across various sectors are making towards strengthening ...

  DUBAI / WAM Dubai has a huge opportunity to boost growing real estate investment from Chinese investors in the wake of Britain’s decision to leave the EU, developers and property marketers have been told. Uncertainty in Europe following the Brexit vote could attract a new wave of Chinese investment in Dubai based on the Emirate’s offer of quality new ...

  Bloomberg Asia is embracing bullet trains like never before. Singapore and Malaysia signed an agreement on Tuesday that will bring a high-speed rail link to Kuala Lumpur by 2026. The long-envisioned plan, six years behind an earlier target completion date, follows a $5.5 billion project already underway in Indonesia. India last year chose Japan to build a $15 billion ...

  Bloomberg Facebook Inc. is piloting a feature in India allowing users to save videos to watch offline, chasing a similar program from Google’s YouTube, as the companies attempt to crack a market ridden with poor internet connectivity. The move followed feedback from users in the country citing poor video experiences because of limited mobile coverage, Facebook said in a ...

  Bloomberg Singapore Exchange Ltd., whose stock market suffered a five-hour halt last week, said the issues were caused by a hard disk failure and an application that didn’t detect the fault. The exchange has replaced the disk and submitted an interim report to the Monetary Authority of Singapore, CEO Loh Boon Chye told reporters on Tuesday. Investigations are ongoing ...

  Bloomberg Malaysia’s ringgit posted the biggest two-day slide since Britain voted to exit the European Union amid the subdued mood in emerging markets as oil and stocks fell. Crude prices dropped for a second day, damping the outlook for government finances for Asia’s only major net oil exporter before the International Monetary Fund updates its projections for world growth ...

  Bloomberg Takata Corp., the air-bag supplier behind the industry’s largest ever recall, routinely manipulated results of air-bag inflator tests reported to Honda Motor Co., according to an ongoing audit commissioned by the parts maker and its biggest customer. Takata engineers removed some test results to artificially reduce variability in air-bag inflator performance, Brian O’Neill, a former Insurance Institute for ...

  Bloomberg Turkey’s central bank slowed the pace of interest rate cuts at its meeting on Tuesday after the failed coup attempt triggered a sell-off in the currency and sovereign debt. The bank lowered its overnight lending rate by 25 basis points, which fell short of the 50-basis-point cuts it delivered during the past three meetings but matched the median ...