DUBAI / WAM DP World has announced a partnership with Zhejiang China Commodity City Group (CCC Group) to develop a ‘Traders Market’ at Jebel Ali Freezone (Jafza). DP World will hold a majority share in the 70/30 joint venture. The Traders Market project will span approximately 800,000 square metres, with Phase 1 development covering about 220,000 square metres. Phase 1 ...

Bloomberg India’s central bank approved a record 1.76 trillion-rupee ($24.4 billion) payout to the federal government, boosting New Delhi’s coffers at a time when it is under pressure to provide a fiscal stimulus to the slowing economy. The Reserve Bank of India’s (RBI) board approved a transfer, which includes 1.23 trillion rupees as dividend and 526.4 billion rupees from its ...

Bloomberg The firm that’s transforming an archipelago, desert and mountains — an area about the size of Belgium — on Saudi Arabia’s Red Sea coast into a global tourism destination is talking to banks to raise $3.5 billion, according to people with knowledge of the matter. The Red Sea Development Co. started discussions with local lenders for a 13 billion-riyal ...