Abu Dhabi / WAM The 2017 edition of Abu Dhabi Sustainability Week (ADSW) slated to begin next Monday is expected to attract 38,000 attendees from 175 countries. Hosted by Masdar, this year’s theme is, ‘Practical Steps Towards a Sustainable Future’. The week’s anchor event, the World Future Energy Summit, WFES, will be celebrating its 10-year anniversary with a strong focus ...
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‘UAE-India biz ties have strong potential for further growth’
Abu Dhabi / Emirates Business A high-level delegation from the UAE is participating in the 8th eighth Vibrant Gujarat Global Summit which kicked off on January 10 – under the theme of ‘Sustainable Economic & Social Development’ and will conclude today in Gandhinagar, the capital of Gujarat state in Western India. The group is headed by HE Dr Rashid ...
Read More »Trump’s choice for top US diplomat talks tough on China
WASHINGTON / AP Pointing towards possible confrontation, Donald Trump’s selection for secretary of state likened Beijing’s island-building in the South China Sea to a takeover of another country’s territory and spoke of forcing Beijing to fully apply sanctions on North Korea. China will likely be alarmed by former Exxon Mobil CEO Rex Tillerson’s Senate confirmation hearing remarks on Wednesday. ...
Read More »Bumpy recovery road as India cuts purchases of soaps to cars
Bloomberg India’s economy is set for a choppy recovery from the world’s most sweeping currency policy change in decades. Inflation continued to slow in December as the cash ban squelched demand while a volatile factory output gauge rose in November, according to Bloomberg surveys before data due at 5:30 pm in New Delhi on Thursday. Companies are bracing for ...
Read More »China auto market looks for weaker 2017 outlook
AP China’s auto market had a bumper year in 2016 as sales grew by 15 percent, with drivers rushing to buy cars before a tax break expired at the end of the year. The data released on Thursday showed that automakers sold 24.4 million cars, minivans and sport-utility vehicles in China. Booming sales, driven by strong demand for SUVs, ...
Read More »Australia lawmaker seeks 20-fold raise in iron ore tax
Bloomberg The world’s biggest mining companies producing iron ore from Australia aren’t paying their fair share in taxes, according to a lawmaker who wants a 20-fold raise in a state levy that’s been unchanged since the 1960s and the era of imperial pounds, shillings and pence. The proposal has “overwhelming†support and Rio Tinto Group and BHP Billiton Ltd.’s ...
Read More »Blackstone to vie with Warburg, Chinese Group for GLP
Bloomberg Blackstone Group LP is considering an offer for Global Logistic Properties Ltd. (GLP), potentially pitting it against Warburg Pincus and a separate Chinese group in the bidding for the $8.6 billion warehouse operator, people with knowledge of the matter said. Warburg Pincus is forming a consortium to bid for the Singapore-based company and has been speaking with banks ...
Read More »VW officials destroyed e-mails, files as diesel scheme unravelled
Bloomberg Volkswagen AG’s nearly decade-old plot to cheat US emissions tests — all while marketing its diesel cars as environmentally friendly — was quickly unraveling by 2015. A campaign to mislead regulators was failing so badly that top executives signed off on a script for employees to use when questioned. It didn’t work. The next day, August 19, 2015, ...
Read More »Data suggests Brexit failed to knock tech investment in UK
Bloomberg UK tech companies raised more capital than any other European country in 2016, while SoftBank Group Corp.’s acquisition of ARM helped Britain achieve a record year for tech deals, according to a survey conducted by the UK capital’s promotional company, London & Partners. The report, which was based on data compiled by research firm PitchBook Data, showed that ...
Read More »UAE paved its way into the future: VP
Dubai / WAM “The UAE has paved its way into the future and has built a generation of innovative and excellent achievers and leaders who deserve to be celebrated,†said Vice President and Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, as he attended the Mohammed bin Rashid Government Excellence Award ...
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