Uncategorized

  Dubai / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has approved a number of initiatives and policies related to societal development, voluntary work and promoting the standard of services provided in the emirate. He gave the approval during Executive Council meeting at Etihad Museum. The ...

  Sharjah / WAM Sharjah Islamic Bank (SIB) plans to issue convertible sukuk equivalent to 10 per cent of the lender’s capital, it said on Sunday. Funds raised through the sale will be used by Islamic endowments selected by the government of Sharjah. The bank also authorised a capital increase to around AED2.66 billion, it said in an emailed press ...

  ABU DHABI / WAM Abu Dhabi Securities Exchange (ADX) announced that foreign investors’ purchases in February 2017 reached AED2.306 billion, representing 44.8 percent of total trades, whereas their sales stood at AED2.158 billion, representing 41.9 percent of total trades. In its statement, ADX added, “Subsequently, the net foreign investment in February reached AED148 million, whereas institutional investments in February ...

  Bloomberg China’s economy has shown signs of improvement in the first two months of the year with little risk of a hard landing, senior Chinese officials said. China’s macroeconomy stabilized in the beginning of 2017, Ning Jizhe, head of the National Bureau of Statistics, said at the sidelines of the annual legislature meeting in Beijing. Industrial output in January ...

  BEIJING/ AP China’s industry minister defended a manufacturing development plan and rejected complaints foreign makers of electric cars and other goods might be pressured to hand over technology or forced out of promising markets. Miao Wei, minister of industry and information technology, tried to reassure foreign companies that the “Made in China 2025” industry plan treats all companies equally. ...

  WASHINGTON / AP Less than twenty-four hours after Donald Trump had won the White House, House Speaker Paul Ryan triumphantly proclaimed the start of a new era of Republican leadership that would “hit the ground running.” Six weeks into Trump’s administration, Republicans are running — just in different directions. As congressional leaders move forward with efforts to undo former ...

  Bloomberg Vitol Group BV, the trader that shipped the first cargo of US crude after export restrictions ended in late 2015, predicts the country’s oil exports will grow “a lot more” because of rising production in Texas. US crude shipments briefly surged to a record 1.21 million barrels a day in mid-February, up from 32,000 in 2010, when most ...

  ROCKLAND / AP Hitachi Ltd. is aiming to expand its rail business in the US by bidding for streetcar and light-rail projects as President Donald Trump pledges to spend as much as $1 trillion to upgrade infrastructure across the country. The Japanese conglomerate “sees quite a big opportunity” in the US, Alistair Dormer, chief executive officer of Hitachi Rail ...

  Bloomberg German-based chipmaker X-Fab Silicon Foundries SE expects to raise about 500 million euros ($530 million) via an initial public offering in order to fund its global production expansion. The company with headquarters in Erfurt, central Germany, said it intends to list shares on the Euronext Paris exchange in a primary offering of new shares worth 250 million euros ...

  Dubai / WAM Expo 2020 Dubai’s successful apprenticeship programme is being integrated with a corresponding scheme at Jebel Ali Free Zone (Jafza) to give young Emiratis a greater chance of taking a positive first step on the career ladder. The Memorandum of Understanding, MoU, will absorb the tried and tested structure and content of Expo 2020 Dubai’s programme into the ...