News

    Tokyo / Bloomberg Japan’s Norinchukin Bank bought more than $2.9 billion of UK mortgage-backed bonds sold by Cerberus Capital Management, according to people familiar with the matter. The cooperative lender, which serves as the central financial institution for Japanese farmers and fisherman, acquired senior-ranking notes in a 6.1 billion pound deal that priced earlier this month, said the ...

  Melbourne / Bloomberg Telstra Corp. and a Ping An Insurance Group Co. unit said their agreement over the sale of a $1.6 billion stake in China’s Autohome Inc. is binding, indicating the transaction will go ahead despite the emergence of a higher management buyout proposal. Ping An Trust & Investment Co., which agreed to buy a 48 percent stake ...

  NEW YORK / AP India’s finance minister says his country’s needs include everything from more housing and factories to becoming more business friendly but that it’s also committed to protecting the climate. Arun Jaitley spoke about India’s future at the Asia Society in New York. Jaitley says there’s widespread support for reform in India. He says India’s states will ...

  Tokyo / Bloomberg Sony Corp. shares climbed the most in two months in Tokyo trading as concerns abated that a quake at the southern Japanese island of Kyushu will cause a major disruption in the supply of image sensors for mobile phones. The shares rose 6.5 percent to 2,914 yen on Tuesday, the biggest jump since Feb. 15. The ...

  Vienna / AFP Natural disasters have caused more than $7 trillion (6.2 trillion euros) in economic damage worldwide since 1900, with floods and storms accounting for nearly 60 percent of the total, researchers said. The death toll from such natural calamities — which also include earthquakes, volcanoes, droughts, heatwaves and wildfires — topped eight million from 1900 to 2015, ...

  SHARJAH / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan sent a cable of condolences to President Rafael Correa of Ecuador, and Tsugunomiya Akihito, Emperor of Japan, on the victims of the earthquake that hit both countries leaving many people killed and injured. His Highness Sheikh Khalifa also expressed his condolences and sympathy to the families of ...

  ABU DHABI / WAM Abu Dhabi Ports, the master developer, operator and manager of ports and Khalifa Industrial Zone in the Emirate, and Khalifa University in Abu Dhabi, signed a Memorandum of Understanding (MoU) that will pave the way for knowledge sharing, joint research projects, and job opportunities for students. Abdullah Humaid Al Hameli, Acting Executive Vice President – ...

  DUBAI / WAM The Roads and Transport Authority (RTA) announced the introduction of a new app for smart phones to facilitate the job of parking inspectors, and ease the processing of parking permits in the Emirate of Dubai. The step is part of RTA’s relentless efforts to equip inspectors with top-notch devices, and ensure the speedy processing of parking ...

  PARIS / WAM Emirates Central Cooling Systems Corporation, Empower, awarded a contract that will boost the company’s production by 30,000 Refrigeration Tonnes (RT), according to Ahmad bin Shafar, Chief Executive Officer. “Being the world’s largest district cooling services provider in terms of capacity, we continuously work on increasing our operations to cater to the needs of our rapidly increasing client-base ...

  Dubai / Emirates Business Abu Dhabi Commercial Bank (ADCB) on Monday announced its participation for the sixth year in a row in Bonds, Loans & Sukuk Middle East 2016 as a Gold Sponsor. The conference, which brings together issuers, borrowers, investors and bankers to discuss the developments of local and international bond, syndicated loan and sukuk markets, is being ...