FUJAIRAH / WAM A wide range of development projects are underway in the UAE’s East Coast Emirate of Fujairah as it seeks to diversify its economy. The Port of Fujairah, its adjacent anchorage and the Fujairah Oil Industry Zone, FOIZ, are already well-established as the second largest oil bunkering centre in the world, with a new 250,000 barrels per day ...

Bloomberg Luckin Coffee Inc, a challenger to Starbucks Corp in the race to dominate China’s growing coffee culture, climbed in its trading debut after raising $561 million in an expanded US initial public offering. The Xiamen-based company, which opened at $25, climbed as much as 53 percent in New York trading. Luckin sold 33 million American depositary shares for $17 ...

Bloomberg Tata Group-controlled Indian Hotels Co Ltd has joined hands with Singapore’s wealth fund, GIC Pte, to invest as much as $600 million over three years in buying hotels in India. The partners will acquire fully-operational hotels mainly in the luxury, upper scale and upscale segments and house these in a separate special purpose vehicle with its own funding, according ...