News

DUBAI / WAM The Roads and Transport Authority (RTA) announced the extension of the deadline set for submitting documents for pre-qualification of developers and potential bidders for the design, construction, financing, operation and maintenance of the Union Oasis project until the 28 February. RTA has also introduced extensive and significant financial enhancements to the investment structure of the Project through ...

DUBAI / WAM The Al Manal Initiative, launched by HH Sheikha Manal bint Mohammed bin Rashid Al Maktoum to activate humanitarian work at a local, regional and international level, has announced the launch of its “Step Up For Girls’ Education” campaign in support of Dubai Cares girls’ education programmes in developing countries. The campaign, which donates AED 1 towards girls’ ...

ABU DHABI / WAM Ministry of Education signed on Monday a Memorandum of Understanding (MoU) with the Ministries of Science and Education in the Republic of Montenegro. The MoU aims to establish and enhance cooperation in the field of higher education and scientific research. The Memorandum was signed by Dr. Ahmed Belhoul Al Falasi, Minister of State for Higher Education ...

Beijing / AFP China’s overcapacity in heavy industries is wreaking “far-reaching” damage on the global economy, with steel production “completely untethered” from market demand, the European Union Chamber of Commerce in China said on Monday. The Asian giant’s steel industry manufactures more than the next four largest producers combined — Japan, India, the US, and Russia — the chamber said ...

Kuala Lumpur / DPA While companies are holding tight to cash, Axiata Group Bhd is going against the grain with the purchase of Nepal’s No.1 mobile operator, Ncell Pte Ltd, for US$1.37 billion. We have been eyeing that market for two years but we only got really serious in the past few months,” Axiata group chief financial officer Chari TVT ...

Tokyo / DPA The Japanese government has decided to offer a yen loan of about 10 billion about $88,829,700) to support construction of a gigantic solar power plant with a large-capacity storage battery system in Egypt. Egypt is expected to hold a public tender open only to Japanese companies with advanced battery technology. The government hopes this will give the ...

Islamabad / AFP Pakistan has authorised the import of an expensive Hepatitis-C drug from the United States to improve treatment for the estimated eight million people carrying the blood infection, officials said on Monday. Hailed by experts as a game-changer, Sovaldi, which has been on the market since 2013, costs around $1,000 per pill in the US or $84,000 for ...

Beijing / Bloomberg China will halt the implementation of a drug-coding system that’s developed and operated by Alibaba Health Information Technology Ltd. to identify counterfeit medicines. China Food & Drug Administration suspended the new electronic coding system as it made draft amendments to existing rules, allowing the use of other methods to build a system that tracks medicines back to ...

Bloomberg With Jeb Bush’s departure from the presidential race on Saturday, a mighty fundraising army scattered. The question the troops face: pick another side or retreat? Bobbie Kilberg chose quickly. A top Republican fundraiser in Virginia, she got the news of Bush’s withdrawal Saturday night over text messages at a dinner. By the next morning, she was giving interviews about ...

Bloomberg The co-founder and former chief executive officer of Devon Energy Corp. has signed on to shape energy policy for Florida Senator Marco Rubio, who is running for the Republican presidential nomination. Larry Nichols will lead Rubio’s energy steering committee. Nichols, who cut a $50,000 check to the super PAC supporting Rubio in December, also will host a Feb. 26 ...