News

Jakarta / Bloomberg An Indonesian consortium led by veteran investment banker Agus Projosasmito is in talks to raise $1 billion of debt to back its bid for control of Newmont Mining Corp.’s copper operations in the country, according to the group’s financial adviser. The investor group is in discussions with banks on borrowing $750 million in senior loans and $250 ...

Bangkok / DPA Thailand’s power peak will hit a new record this year when electricity usage is expected to hit 28,500 megawatt, according to an estimate by the Electricity Generating Authority of Thailand under the assumption that average temperature would rise by 4 percent to 38.5 degree Celcius. The electricity consumption should hit a new peak some time during April ...

Bandar Seri Begawan / DPA The Ministry of Communications is looking to use public-private partnership (PPP) to make the Brunei International Airport on par with the best in the world. Interior refurbishment of the Brunei International Airport will need to be done to make it one of the best in the world,” Mustappa Sirat said at 12th Legislative Council (LegCo) ...

Tokyo / AFP A former Toshiba president has been questioned by Japan’s markets watchdog and may face criminal charges over his alleged involvement in a falsified earnings scandal, reports said on Saturday. The company has been roiled by a profit-padding scandal, in which bosses for years systematically pushed their subordinates to cover-up weak financial figures. Hisao Tanaka was quizzed by ...

Emirates Business Etihad Rail — the developer and operator of the UAE’s $11 billion national rail network — has announced that it has been awarded the Estidama 2 Pearl Construction Rating by the Abu Dhabi Urban Planning Council (UPC) for seven sustainable buildings at its depot in Mirfa, Al Gharbia. It is a significant achievement to receive 2 Pearls for ...

Sunaina Rana / EMIRATES BUSINESS The demand for automobile parts and accessories is on the rise in UAE, according to Ahmed Pauwels, CEO of Messe Frankfurt Middle East, as the region’s leading exhibition organizer is gearing up for the 14th edition of Automechanika Dubai 2016. The event, which will be held from May 8-10 at the Dubai International Convention and ...

EMIRATES BUSINESS Champions were crowned on the final day of the Dubai Autodrome Motorsport Club (DAMC) organised by NGK Racing Series at Yas Marina Circuit. At the end of races, Costas Papantonis was crowned champion in Class 1, Al-Qassim Hamidaddin won his first UAE championship in Class 2 and Alex Annivas clinched the Clio Cup title in the double points ...

Sunaina Rana / EMIRATES BUSINESS Popular hotel-apartments Al Bustan Centre and Residence will be the official host hotel of Fazza and Dubai Club for Disabled Championship Tournament. The company is gearing up to offer top services and hospitality to make the event a success. The Dubai Club for the Disabled Tournament — a part of 8th Fazza Athletics Championship Grand ...

EMIRATES BUSINESS The sixth edition of the SIKKA Art Fair continues to host an exciting line-up of music, dance, plays, poetry recitals, improvisational performances and open- air cinema screenings till March 24, featuring local and international talents at the Al Fahidi Historical Neighbourhood in Bur Dubai. SIKKA Art Fair is the flagship arts and cultural initiative organised by Dubai Culture ...

EMIRATES BUSINESS Statistics Center — Abu Dhabi released a new issue of its monthly report on the consumer price index (CPI) and the inflation rate in the Emirate of Abu Dhabi for February 2016, replacing, with 2014 as the base year. This CPI is used in measuring inflation and represents an important input in conomic and monetary planning. As the ...