Uncategorized

ABU DHABI / Emirates Business Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for corporates and individuals, announced on Wednesday its financial results for the year 2017. The company reported strong results with its net profit of AED227.3 million for 2017, representing an increase of 11 percent over the same period last year. Commenting ...

Dubai / WAM Dubai-based flydubai has announced the start of flights to Kinshasa, the capital of Congo from April 15. The daily flights will operate with an en route stop in nearby Entebbe and will also be available for booking through the Emirates codeshare agreement. flydubai becomes the first UAE carrier to operate flights to N’djili Airport (also known as ...

Abu Dhabi / WAM The Abu Dhabi National Oil Company (ADNOC), announced on Wednesday, that it has launched the implementation phase of its new In-Country Value (ICV), strategy, aimed at increasing the company’s ICV contribution and strengthening its relationship with the UAE’s private sector. All business partnerships with ADNOC now include an ICV assessment as part of the tender evaluation ...

Bloomberg The US is pushing to get Pakistan placed on an international terror-financing watchlist a month after President Donald Trump suspended about $2 billion in military aid to the nuclear-armed nation. The US, along with the UK, have reported to the Financial Action Task Force that Pakistan hasn’t complied with terrorism regulations, Rana Muhammad Afzal Khan, a junior Pakistani minister ...

Bloomberg Prime Minister Narendra Modi has allowed India’s subsidy bill to balloon in the lead up to crucial elections, at the risk of breaching his budget deficit goals. Although Modi has a reputation for reducing India’s huge subsidy expenditure, data shows he’s missed the chance to rein it in. And as he prepares for state and national elections, subsidy reforms ...

Bloomberg Toshiba Corp. is bringing in an outsider to lead the Japanese electronics maker battered by accounting scandals, record losses and divestment of businesses. Nobuaki Kurumatani, 60, representative director of CVC Capital Partners Ltd. in Japan and former vice president at Sumitomo Mitsui Banking Corp., will become chief executive officer and chairman of Toshiba Corp., the Tokyo-based manufacturer said in ...

Bloomberg The Trump administration is signaling progress on Nafta talks, particularly with Mexico, as Republican lawmakers voice support for a trade deal President Donald Trump has threatened repeatedly to abandon. The US is making “headway” in its efforts to renegotiate the North American Free Trade agreement, Trade Representative Robert Lighthizer said at a meeting with the president and a bipartisan ...

Bloomberg Businesses in the Czech Republic are fretting over a debate about a new referendum law, warning it has the potential to trigger a vote on a Brexit-style departure from the European Union that would devastate the economy. The pushback from business came after Prime Minister Andrej Babis’s ANO party held talks last week on introducing referendums with a far-right ...

Bloomberg With no let-up in sight for listed UK real estate agents, the companies could find themselves the targets of a wave of M&A activity. So say industry analysts and executives, who note that traditional high-street players like Foxtons Group Plc and Countrywide Plc face a stagnant housing market while losing market share to online competitors. Investors are running out ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, on Tuesday received Roberto Azevedo, Director-General of the World Trade Organisation (WTO), who is participating at the World Government Summit (WGS 2018). During the meeting, Sheikh Mohammed and Azevedo discussed a number of topics related to global trade ...