News

  Abu Dhabi / Emirates Business As part of the ongoing national initiative to promote awareness of healthy lifestyle in the community, the Ministry of Health and Prevention represented by the Health Education and Promotion Department in the Health Centers and Clinics Sector has launched in a press conference the ‘Healthy Restaurant’ initiative in different emirates. The press conference was ...

  Abu Dhabi / Emirates Business The international technical review committee of the UAE Research Program for Rain Enhancement Science meets on May 4 and 5 in Abu Dhabi to assess the 91 pre-proposals received in its first phase. Comprising experts drawn from across the world, the committee will announce its final shortlist of candidates on May 17. The UAE ...

  DUBAI / Emirates Business Under the patronage and attendance of H.H. Sheikh Abdulaziz bin Ali bin Rashid Al Nuaimi, UAE’s “Green Sheikh”, Goumbook announced the launch of its nation-wide campaign to minimize plastic bottled water consumption and reduce plastic waste across the UAE. The event took place on May 3 and was hosted and sponsored by the Sofitel Downtown Dubai ...

  Abu Dhabi / Emirates Business Gulf Capital — one of the largest and most active alternative investment firms in the Middle East — has announced that it has acquired 100% of Multibrands Trading Co, one of largest food and beverage (F&B) distributors in the Kingdom of Saudi Arabia, with an annual turnover in excess of US$100 million. Founded in ...

  Canberra / AFP Australia’s government on Tuesday unveiled an election-focused budget to shore up economic growth amid a rocky transition from dependence on mining, doling out tax cuts for individuals and businesses. The annual announcement came as the central bank slashed interest rates to a new record low of 1.75 percent, following recent unexpectedly weak consumer prices, in order ...

  Bandar Seri Begawan / The Diplomat On April 20, the Bank of China Hong Kong Limited (BOCHK) was granted regulatory approval by Brunei’s Monetary Authority to open a branch in the sultanate, making it the first Chinese financial institution to do so. While China’s penetration into Brunei’s economy is not new, the move will be read as a sign ...

  New Delhi / Bloomberg India has rejected Apple Inc.’s request to import and sell refurbished iPhones to the world’s second largest mobile population, dealing a blow to its plans to court price-conscious consumers there. The US company’s application has been turned down, a telecommunications ministry official told reporters in New Delhi on Tuesday, declining to be identified because of ...

  Hong Kong / AFP China and Japan’s economies are expected to slow sharply over the next two years but Asian growth will remain strong as domestic demand takes up the slack from weak global trade, the IMF said on Tuesday. Government stimulus measures, lower commodity prices and low unemployment will help drive regional expansion, the International Monetary Fund said, ...

  Sydney / AFP A Chinese-led consortium has withdrawn its $281.5 million bid for Australia’s vast Kidman cattle empire after the government indicated the deal was not in the national interest, the seller said on Tuesday. Australia’s biggest private landholder S. Kidman and Co. had selected the bid by Chinese-owned Dakang Australia Holdings and ASX-listed Australian Rural Capital (ARC) as ...

  Bloomberg The European Commission told the euro area’s largest economies to reduce debt and modernize labor markets as it again slashed its inflation forecast and warned of slower-than-predicted growth across the 19-nation bloc. France, Spain and Italy, which have persistently failed to hit European Union budget targets, are still off track, the Brussels-based commission said. Gross domestic product in ...