Dubai / Emirates Business The Dubai Chamber of Commerce and Industry announced that it recorded a 61% year-on-year increase in the number of companies from the UAE and GCC applying for the 10th cycle of the Mohammed bin Rashid Al Maktoum (MRM) Business Award. The number of companies in the region applying for the 2nd cycle of the MRM Business ...

Bloomberg As corporate defaults pile up in China’s onshore bond market, a unit of a once-promising energy conglomerate with $4.8 billion of debt and a checkered past said it won’t be able to meet its payment obligation on Monday. CEFC Shanghai International Group Ltd., a unit of the privately-held CEFC China Energy Co., failed to repay 2 billion yuan ($313 ...

Bloomberg Oil advanced towards $72 a barrel as Venezuela’s election results escalated the risk of US sanctions against the OPEC nation, adding to mounting concerns about supply following curbs against Iran. Futures in New York rose as much as 0.9 percent. President Nicolas Maduro won the elections in Venezuela, increasing the prospect of US sanctions that could curb the nation’s ...