News

Bloomberg Ontario is selling a stake in Hydro One Ltd. for C$1.71 billion ($1.3 billion) five months after completing Canada’s largest initial public offering since 2000. In the so-called bought deal, where banks commit to buying the entire offering for resale to investors, the province is selling 72.4 million shares of Hydro One at C$23.65 apiece, the Toronto-based utility said ...

Bloomberg Argentina called on bondholders to give the country more time to repay about $12 billion in debt still owing from its 2001 default as a court hearing prevents the government from making the payment within the deadline. The New York Appeals Court will begin to hear the case on April 13, one day before Argentina has to make the ...

Bloomberg For Kia Motors Corp. Mexico’s historic car boom isn’t working out as planned. A dispute with a recently elected state leader may prevent the start of production next month at a northern Mexico car factory representing more than $1 billion in investment, Kia said on Tuesday. The plant is in the cross hairs of Nuevo Leon Governor Jaime Rodriguez, ...

Bloomberg A year after Brazilian oil giant Petroleo Brasileiro SA took a writedown of $2.1 billion because of the sweeping corruption scandal known as Carwash, another state-run company is getting closer to reporting its own price tag from graft losses. The team of lawyers and specialists hired by Centrais Eletricas Brasileiras SA has finished the bulk of its investigation to ...

DUBAI / WAM Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum on Tuesday visited Dubai Municipality, where he praised the progress of various ongoing projects which are part of His Highness vision for a green and sustainable city by 2021. Sheikh Mohammed was accompanied by HH ...

DUBAI / WAM As per the directives of Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, the 5th World Government Summit will be held from February 12 to 14, 2017. The Summit will expand its agenda and session topics to include economy and finance as well as health, education and government ...

SHARJAH/ WAM Investors from Great Britain will have the opportunity to find out about the advantages of doing business in Sharjah thanks to a special business–to-business (B2B) forum being held in London. Organised by the Sharjah Investment and Development Authority (Shurooq) under the banner ‘Sharjah Day,’ the April 8 event will introduce British investors and businesspersons to prominent opportunities in ...

SHARJAH / WAM The Sharjah Airport International Free Zone Authority (SAIF ZONE) concluded a series of seminars that have been organised successfully in a number of Indian cities to promote and highlight the diversified trade and investment opportunities provided by the Authority. The tour was part of the global marketing campaign carried out by the authority to review its investment ...

SUNAINA RANA Emirates Business Women’s participation at workplace has increased manifold over the last decade, but at the same time it is being witnessed that due to busy schedules and lack of office flexibility many working mothers are giving up their careers midway. According to a recent survey of professional women in the GCC by MCG Group, 76 percent respondents ...

RITIKA SHARMA / EMIRATES BUSINESS The heightened competition in the sector is motivating retailers in the UAE to grow further. Backed by researches that say Emirates retail market will be valued at US$53.7 billion in 2016, up 7 percent over 2015, major players are expanding their businesses after posting good profits in the last quarter of 2015. Waqas Hassan, Managing ...