Dubai / WAM Dubai’s Department of Tourism and Commerce Marketing, Dubai Tourism, has initiated efforts to release approximately AED250 million ($68 million) in bank guarantees that have been furnished by tourism-related service providers, following the waiver of this prerequisite regulatory requirement to start a travel and tour business in the emirate. The new deregulatory measure allows for instant liquidity to ...

Bloomberg Sinopec Corp’s trading losses shouldn’t deflect investors from the potential opportunity presented by its shares holding near a two-year low. The refining giant, officially called China Petroleum & Chemical Corp, has slumped 10 percent in the past month amid a global oil rout and after it reported losses on derivatives linked to crude prices at its main trading unit ...

Bloomberg Macquarie Infrastructure & Real Assets and NTPC Ltd, India’s largest power utility, are among companies interested in buying some of the renewable energy assets of beleaguered shadow financier Infrastructure Leasing & Financial Services Ltd, people familiar with the matter said. GAIL India Ltd and Solar Energy Corporation of India have also submitted expression of interest to buy the assets, ...