Abu Dhabi / Emirates Business Abu Dhabi Fund for Development (ADFD), the leading national entity for international development aid, has allocated $21 million (AED77 million) to finance a specialised ophthalmology hospital in Mauritius as part of its commitment to boosting the healthcare sector in the island nation. HE Mohammed Saif Al Suwaidi, Director General of ADFD, and HE Mohamed Iqbal ...
Read More »
Dubai / Emirates Business Dubai Cruise Tourism, a department of Dubai’s Department of Tourism & Commerce Marketing (Dubai Tourism), alongside its public and private sector partners welcomed cruise ship Oceana into Dubai for the debut of UK-based, P&O Cruises into the region as it homeports for the season. With Dubai as its official winter hub, the luxury vessel will commence ...
Read More »
Bloomberg The US and South Korea reached a cost-sharing deal for American forces on the Korean Peninsula, relieving pressure on the seven-decade alliance after the Trump administration demanded that Seoul pay as much as 50 percent more. The State Department said in a statement that the US reached an agreement with South Korea on the so-called Special Measures Arrangement. The ...
Read More »
Bloomberg India’s power retailers may need to start paying in advance for their electricity purchase in a bid to ease financial stress at generators. Concerned over delayed payments to generators, the federal power ministry has formed a panel to examine if distribution companies should pay generators in advance for electricity purchases, according to a power ministry document reviewed by Bloomberg. ...
Read More »
Bloomberg In a twist to the tale of two rival billionaire brothers in India, a bankruptcy filing by Anil Ambani’s wireless carrier could have one clear winner — his elder sibling’s disruptive mobile phone unit. The process initiated in Mumbai, once admitted by the court, would leave Ambani’s Reliance Communications Ltd., or RCom, 270 days to repay debt or liquidate. ...
Read More »
Bloomberg US and California officials agreed on one thing about auto emissions standards: they’re still miles from an agreement, with a crucial deadline just two months away. In separate comments, Sacramento and Washington’s top environmental regulators said they’ve yet to overcome a long-running impasse over the Trump administration’s proposal to cap auto emissions and fuel economy standards after 2020 and ...
Read More »
Bloomberg Johnson & Johnson, the world’s largest maker of health-care products, has agreed to settle the bulk of consumers’ lawsuits alleging it sold defective artificial hips and misled patients about their dangers, according to a lawyer for the plaintiffs. “The parties have reached an agreement that hopefully will resolve most, if not all, of the litigation,’’ said attorney Mark Lanier, ...
Read More »
Bloomberg When Siemens AG and Alstom SA unveiled their rail merger in 2017, the former arch-rivals hailed the deal as a historic union, forming the basis of a European champion with the heft to take on an expansionist Chinese competitor. The plan may well go down in history books, but not for the reasons the companies hoped. Rather, the European ...
Read More »
Abu Dhabi / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, have discussed with His Holiness Pope Francis the friendly relations between the UAE and ...
Read More »
ABU DHABI / WAM Etihad Rail, the developer and operator of the UAE’s national railway network, has revealed details of their new strategy and brand identity, following the recent financing approval for Stage Two of the UAE’s national rail network. Operating under the directions of HH Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of Etihad Rail, the new ...
Read More »
The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.