News

  Dubai / Emirates Business The holy month of Ramadan is a special time to embrace the spirit of giving and make a difference in the community. The month is also an ideal time for business leaders to reflect on the importance of corporate philanthropy. Encouraging this very concept of corporate social responsibility, Al Noor Training Centre is back with ...

  Manama / Tribune news service Residents of 1,300 rundown homes in the Muharraq Governorate are refusing to renovate their homes according to heritage specifications and threatening to knock them down themselves. Homes in the historic Muharraq, Hidd and Arad neighbourhoods are under a banned list, which means that the Muharraq Municipality can’t grant their owners permission to bulldoze and ...

  Reuters Bankers are expecting to be notified soon about the line up to lead Saudi Arabia’s debut international bond transaction after pitches took place in Riyadh. The Kingdom is likely to hire from the list of banks that underwrote a US$10bn loan in May, which was coordinated by JP Morgan, HSBC and Bank of Tokyo-Mitsubishi, though a number of ...

Reuters Importers in Iran have bought at least 250,000 tonnes of Brazilian raw sugar in the first purchases since international sanctions were lifted on Tehran in January, trade sources said. One source said the purchases were between 250,000 and 300,000 tonnes for May to June shipment, while another said the quantity was probably bigger than that. “Buyers in Iran have ...

  Manama / Tribune news service Old and outdated systems running the oil and gas sector in the Gulf are vulnerable to cyber attacks, according to a security expert. Hackers keep exploiting this weakness which is reflected in the sharp rise in the number of attempts reported by a global cyber security watchdog monitoring the situation. “The underlying technology that ...

  Beijing / Bloomberg The International Monetary Fund’s No. 2 official urged China to take immediate steps to tackle rising corporate debt or risk “dangerous detours” during the country’s transition to a consumption-oriented economy. “Corporate debt remains a serious — and growing — problem that must be addressed immediately and with a commitment to serious reforms,” David Lipton, the IMF’s ...

  New Delhi / Bloomberg India’s Home Ministry has rejected Google’s plan to include photography of the country’s roads, tourist attractions, rivers and mountains in its free Street View mapping service. A panel consisting of security agencies and defense forces concluded Alphabet Inc.’s Google could not offer the 360-degree imagery to users due to security concerns, said a government official ...

  New Delhi / Tribune News Service Dr. Reddy’s Laboratories Ltd, India’s second-largest drug maker, on Saturday said that it will acquire a portfolio of eight abbreviated new drug applications (ANDA) in the US from Teva Pharmaceutical Industries Ltd and an affiliate of Allergan plc for $350 million. The company said it will buy this portfolio on a cash free, ...

  Karachi / AFP Pakistan awarded a $395 million 4G licence to Norwegian telecom giant Telenor, as it seeks to capitalise on a booming domestic mobile market some two years since broadband Internet arrived in the country. In 2014, Pakistan auctioned its first 4G broadband licence to China’s Zong for $210 million, along with 3G licenses to Zong, the UAE’s ...

  Tokyo / Bloomberg Line Corp. is aiming to raise as much as Â¥113 billion ($1 billion) in an initial public offering (IPO) in July, putting it on track to deliver the biggest market debut for a technology company this year. The sale of new and existing shares, in the US and Japan, values Japan’s most popular mobile-messaging service at ...