Bloomberg ArcelorMittal South Africa Ltd will mothball its Saldanha Works plant to curb losses, as raw-material costs and regulated prices mean the operation can no longer effectively compete in steel export markets. Saldanha, on South Africa’s west coast, will be placed on care and maintenance in the first quarter of 2020 and its domestic customers will be served from another ...
Read More »
Bloomberg Hong Kong saw one of its most violent days since protests began in June, with clashes involving police and protesters leaving downtown paralysed, transportation networks hobbled and two men clinging to life. The chaos started on Monday when demonstrators, still angry after the first protest-related death last week, moved to disrupt the morning commute. A scuffle ensued outside a ...
Read More »
Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Sunday attended the 4th Abu Dhabi CEO Roundtable, where 30 of the world’s leading oil and gas companies gathered to discuss key industry challenges and opportunities in today’s fast evolving global economy. The ...
Read More »
ABU DHABI / WAM President Aleksandr Lukashenko of Belarus visited the Sheikh Zayed Grand Mosque in Abu Dhabi, along with his accompanying delegation, as part of his official visit to the UAE. The Belarusian President, commenced his tour by visiting the ossuary of the late Sheikh Zayed bin Sultan Al Nahyan, and recalled the Founding Father’s wise approach that enriched ...
Read More »
Dubai / WAM The second edition of the World Tolerance Summit (WTS), one of the initiatives of the International Institute for Tolerance (IIT), under the Mohammed bin Rashid Al Maktoum Initiatives, will be chaired by Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Chairman of the Board of Trustees of the International Institute for Tolerance (IIT), top officials ...
Read More »
Abu Dhabi / Emirates Business The world’s most influential oil and gas exhibition and conference, the largest-ever Abu Dhabi Petroleum Exhibition and Conference (Adipec), opens on Monday. As a global platform for industry best-practice and innovation, Adipec will set the agenda for the future of the energy, oil and gas sector. Over four days, the event will welcome more than ...
Read More »
Bloomberg Alibaba Group Holding Ltd is moving ahead with plans to raise as much as $15 billion in a Hong Kong share sale, people with knowledge of the matter said, a major win for a city rocked by months of civil unrest. Asia’s largest company by market value is now preparing for a listing hearing as mandated by companies that ...
Read More »
Bloomberg India’s electricity demand declined for the third straight month, another indication of an economic slowdown that seems to be deepening. Electricity demand from distribution utilities declined 13.2% in October from a year earlier, data from the Central Electricity Authority showed. The slump began in August when the power requirement dropped for the first time in more than two years. ...
Read More »
Bloomberg The US Justice Department’s (DOJ) top antitrust enforcer said data collection practices of technology companies can raise competition concerns, the latest warning directed at the industry amid a broad investigation of its biggest companies. Makan Delrahim, the head of the antitrust division, said in a speech at Harvard Law School that the department is paying close attention to the ...
Read More »
Bloomberg Lordstown Motors Corp, the electric-truck startup formed specifically to save a shuttered Ohio car factory, has acquired the highly politicised plant from General Motors Co. The acquisition that the two companies announced ends an era that began when GM opened the complex in 1966. The factory’s fate was largely sealed when the United Auto Workers union was unable to ...
Read More »
The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.