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Dubai / WAM Gulf Capital announced that one of its portfolio companies, Middle East Glass (MEG) has acquired 100% of Misr Glass Manufacturing (MGM), which is specialised in the manufacturing and marketing of container glass for the food and beverage industry. This acquisition creates the largest glass packaging manufacturer not only in Egypt but also in the MENA region and ...

ABU DHABI / WAM Samsung Gulf Electronics held a Developer Day as part of its vision for technology, connectivity and increased collaboration with the local tech community. Held at the Westin hotel in Dubai, the event brought together academia, independent developers and partner organizations including Dubai Electricity and Water Authority (DEWA), Dubai Police and Dubai Smart Government. Samsung also announced ...

DUBAI / EMIRATES BUSINESS It is no secret that the Internet has become the main source of information for users from across the world. With an increasing number of Arab Internet users, and an ever-growing reliance on the Web to retrieve vital information about different medical, cultural and social topics, the need for a comprehensive and integrated platform dedicated to addressing ...

New Delhi / Bloomberg Lockheed Martin Corp. has offered to build its flagship F-16 fighter jet in India, as the South Asian nation scrambles to modernize its aging defense fleet while trying to establish the country as a manufacturing base. Lockheed Chairman, President and Chief Executive Officer Marillyn Hewson, made the offer to Indian Prime Minister Narendra Modi in September, ...

Tokyo / Bloomberg The world’s biggest buyer of liquefied natural gas said imports fell the most in more than six years as nuclear reactors restarted and warm weather cut demand. Shipments of the super-cooled fuel to Japan fell 14.1 percent in January, the biggest drop since May 2009, to about 7.2 million metric tons from a year earlier, according to ...

Shanghai / AFP Apple on Thursday launched its mobile payment service Apple Pay in China, pitting the US technology giant against strong domestic rivals in a large but already crowded market. Success in the world’s second-largest economy is crucial for the California-based firm. Apple Pay is available in only a few other countries including the United States, Britain, Canada and ...

Tokyo / AFP Toyota said on Thursday it was recalling 2.87 million vehicles globally due to the possibility that their rear seatbelt could come apart in a crash and cause injuries. The recall involved Toyota’s RAV4 sports utility vehicle made between July 2005 and August 2014 and between October 2005 and January 2016. The announcement also involves its Vanguard SUV ...

Singapore / AFP Vietnamese budget carrier VietJet Air said on Thursday it had signed a $3.04 billion deal with US engine maker Pratt & Whitney, underscoring the growth potential of Southeast Asia’s low-cost airline market. The engines will power the 63 Airbus A320neo and A321neo aircraft ordered by the carrier, VietJet said in a statement at the Singapore Airshow. The ...

Riyadh / Bloomberg A record 47,431 rooms and 124 hotel projects are currently under development in Saudi Arabia, according to a new report. The majority of projects are in the final construction and pre-opening stages with 52 projects and almost 20,000 rooms set to open to the public throughout the Kingdom this year, says the new report by TOPHOTELPROJECTS commissioned ...

London / Bloomberg Buy-to-let landlords are rushing to purchase U.K. homes ahead of an increase in the stamp-duty sales tax in April. The number of homes acquired by rental homeowners rose 71 percent in January from the same month a year earlier, according to data compiled by Countrywide Plc. the U.K.’s largest realtor. Landlords purchased 21 percent of all the ...