News

  Bloomberg Oyo Hotels, the once high-flying Indian startup, reported a narrower quarterly loss after curbing spending to cope with a slow recovery in travel following the pandemic. The loss shrank to 3.33 billion rupees ($40.8 million) in the three months through September from 4.14 billion rupees in the preceding quarter, the company said in a statement. Revenue was little ...

Bloomberg Bangladesh is on course to become a $1 trillion economy by 2040, driven by consumer optimism, innovation in emerging economic sectors and a young engaged workforce, according to Boston Consulting Group (BCG). With average annual growth of 6.4% between 2016 and 2021, the South Asian nation has outpaced peers such as India, Indonesia, Vietnam, the Philippines and Thailand, BCG ...

  Bloomberg India plans to sell small stakes in state-run firms including the world’s biggest coal miner and Asia’s largest zinc producer, to ride a stock market boom and boost revenue in the final quarter of the financial year, according to people familiar with the matter. The government is looking to sell 5%-10% in Coal India Ltd, Hindustan Zinc Ltd, ...

  Bloomberg Tesla Inc is recalling almost 81,000 electric cars in China — more than it typically ships from its Shanghai factory in any given month — due to a software issue and seat belt problems. The US EV maker will call back 70,434 imported Model S, Model X and Model 3 vehicles, and 10,127 China-made Model 3 cars, the ...

QUETTA / WAM Pakistan’s Army Chief of Staff General Qamar Javed Bajwa opened the Sheikh Mohamed bin Zayed Al Nahyan Institute of Cardiology, which was implemented in the city of Quetta, the capital of Balochistan province. The building is constructed on an area of 121,406 square metres, and at a cost of $27.30 million funded by the Abu Dhabi Fund ...

Dubai / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to the newly sworn-in Malaysian Prime Minister Anwar Ibrahim. HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, dispatched a similar message of congratulations to the Malaysian PM.

  Dhaka WAM The UAE participated in the Indian Ocean Rim Association’s (IORA) 22nd Council of Ministers (COM) meeting and the 24th Committee of Senior Officials (CSO) meeting held in Dhaka, the People’s Republic of Bangladesh. The UAE delegation was led by Ahmed Ali Al Sayegh, Minister of State, and included Dr Abdulnasser Al Shaali, UAE ambassador to India, and ...

  Dubai / WAM A total of 2,867 real estate transactions worth over AED15 billion were conducted during the week ending November 25, according to figures released by the Dubai Land Department (DLD). The DLD report revealed that Dubai saw the sale of 313 plots for AED1.57 billion, as well as 1,936 apartments and villas for AED4.48 billion. Al Hebiah ...

Abu Dhabi / WAM The Abu Dhabi Agriculture and Food Safety Authority (Adafsa) announced the launch of the first permanent livestock auction market in Abu Dhabi, located next to Al Wathba Slaughterhouse, to help breeders market their animals, develop the livestock sector, and promote self-sufficiency. Launching the auction came under the patronage of HH Sheikh Mansour bin Zayed Al Nahyan, ...

Abu Dhabi / WAM AD Ports group has signed a contract with China Harbour Engineering Company (CHEC) for the development of buildings and topside infrastructure for the cutting-edge CMA Terminals Khalifa Port, a joint venture owned by CMA CGM’s subsidiary CMA Terminals (with a 70 percent stake) and AD Ports group (30 percent stake). The agreement includes the development of ...