News

Mexichem tumbles with ICA after deadly blast at Mexico plant

  Bloomberg Mexichem SAB and Empresas ICA SAB fell the most on Mexico’s benchmark index after a deadly blast at a petrochemical plant where both companies had operations. Mexichem dropped 3.4 percent, capping a two-day decline of 8.4 percent after the on Wednesday explosion at a facility the company co-owns about 600 kilometers from Mexico City. ICA, which was upgrading ...

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Yahoo to narrow field of bidders as soon as next week

  Bloomberg First-round bidders for Yahoo! Inc. could find out as early as next week whether they’ve made it through to the next stage. Yahoo’s advisers will spend the weekend narrowing down the field of bidders after receiving more than 10 initial offers for the Internet company ranging from about $4 billion to $8 billion. Several first-round bidders will be ...

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TransCanada agrees to Quebec environmental review for pipeline

  Calgary, Alberta / Reuters TransCanada Corp agreed to submit to a Quebec environmental review of its Energy East pipeline, avoiding a potential legal battle with the province by putting the controversial project through an extra round of scrutiny. The resolution removes a potential hurdle but also introduces another approval process for the nearly 4,600 km cross-Canadian pipeline, which will ...

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Etihad Airways app to enhance travel experience

  Abu Dhabi / Emirates Business Etihad Airways, the national airline of the UAE, has launched a mobile application for the iPhone that enables guests to organise and manage their journey with even greater ease as the airline continues to adopt innovative technology to reimagine the flying experience. Etihad Airways guests will enjoy 10 percent off flights, and members of ...

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Awqaf and Minors Affairs posts 19% revenue rise

  DUBAI / Emirates Business Dubai’s Awqaf and Minors Affairs Foundation (AMAF) has issued its annual report for 2015, recording a 19 percent growth in revenue to hit AED172 million compared with AED144 million in 2014. Over the past year, the Foundation has emerged as a global model for endowment development and nurturing of minors. In 2015, AMAF’s five endowment ...

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Louvre Hotels to announce MENA expansion plans

  DUBAI / Emirates Business Cementing its position as a major player in the Middle East and North Africa (MENA) hospitality market, Louvre Hotels Group, one of the largest hospitality groups in the world, has announced that it will open 11 new hotels in the region this year, including six hotels in the GCC. The move forms part of an ...

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Virgin Mobile MENA recognised for impressive record

  Dubai / Emirates Business The Virgin Mobile Middle East and Africa has been recognised for the most successful MVNO (Mobile Virtual Network Operators) globally at the MVNO World Congress of 2016. Following high competition in the region, Virgin Mobile MEA won top honour of the main award at this year’s ceremony for its unparalleled success breaking into and innovating ...

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Tadweer holds ‘Your Happiness is Our Goal’ initiative

  Abu Dhabi / Emirates Business Tadweer (the Center of Waste Management – Abu Dhabi) organised “Your Happiness is Our Goal” initiative at Al Ain Centre for Care and Rehabilitation by its Al Ain Branch, the initiative targeting the disabled people who require special care and attention from all members of the society. This initiative comes as part of a ...

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Eastern govt tried to export 650,000 barrels: Libya’s NOC

  TRIPOLI / Reuters Libya’s National Oil Corporation (NOC) said the country’s eastern government attempted to export 650,000 barrels of oil this week, but that workers at the Marsa el-Hariga terminal had refused to load the shipment. “This had the potential to be a very ugly incident and I am pleased that it has been resolved peacefully without injury to ...

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India’s Reliance mulls long term oil supplies from Iran

  MUMBAI / Reuters Reliance Industries Ltd , India’s biggest oil refiner, said it is looking to buy more crude from Iran as the company seeks to rebuild ties to benefit from shorter shipping distances. The company had made small purchases from Iran in the current quarter and was currently engaged in talks for bigger supplies, indicating that it could ...

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