ABU DHABI / WAM Senaat General Holding Corporation (“Senaat” or “the Group”), a leading industrial holding company in Abu Dhabi, has recorded a strong performance for the year, registering revenues of approximately AED 14.04 billion for FY 2015, a 5 per cent increase from AED 13.42 billion in revenues achieved in FY 2014. The increase in revenues reflects a stronger ...

ABU DHABI / WAM Abu Dhabi City Municipality (ADM) has unveiled the layout of 20 sites for children playgrounds to be constructed within parks during 2015-2016 at a cost of more than AED 30.542 million, spanning an area of over 14,000 square meters under the infrastructure projects in Abu Dhabi Mainland – North. These projects, which come as part of ...

DIBBA / WAM Dr. Thani Ahmed Al-Zeyoudi, Minister of Climate Change and Environment, met with some of the UAE’s crusher and quarry operators at the Fujairah Culture and Media Authority in Dibba, Fujairah. The meeting is part of Dr. Al Zeyoudi’s plans to conduct a series of visits to various parts of the country, aimed towards highlighting the Ministry’s commitment ...

Tokyo / Bloomberg Sharp Corp.’s President Kozo Takahashi and Foxconn Technology Group’s Chairman Terry Gou formally signed a rescue deal on Saturday, ending a takeover drama that spanned four years of often difficult negotiations. Takahashi and Gou, flanked by the flags of Taiwan and Japan, shook hands in front of more than 300 reporters gathered at the Osaka-based company’s Sakai ...

Kuala Lumpur / Bloomberg An Indonesian consortium led by veteran investment banker Agus Projosasmito is preparing to offer about $2 billion for control of Newmont Mining Corp.’s operations in the country after lining up bank financing, people with knowledge of the matter said. The investor group plans to bid for about 80 percent of local operating company PT Newmont Nusa ...

MUMBAI / Reuters India’s Geometric Ltd said it will sell its IT services business to HCL Technologies Ltd in an all-stock deal valued at 12.37 billion Indian rupees, as HCL looks to strengthen its engineering and automotive services portfolio. Geometric shareholders will receive 10 shares in HCL for every 43 shares of Geometric as part of the stock-swap. The deal, ...

Kuala Lumpur / DPA 1Malaysia Development Bhd (1MBD) said its subsidiary Powertek Investment Holdings Sdn Bhd has fully settled its 3 billion ringgit (US$769.8 million) loan ahead of its maturity date. In a statement, the state investment arm said this was made possible with the help of the 1MDB rationalisation plan initiated by the government. “1MDB is pleased to announce ...

New Delhi / Bloomberg Gail India Ltd. bought the second shipment of liquefied natural gas from Cheniere Energy Inc.’s Sabine Pass plant in Louisiana in a deal that makes it the first Asian importer of US shale gas. The nation’s biggest supplier will receive the cargo, bought on spot basis, at the Dabhol import terminal on the country’s west coast ...

New Delhi / Bloomberg The monsoon is set to bring cheers to Indian farmers this year after the first back-to-back shortfall in rainfall in three decades ravaged crops. Showers during the four-month rainy season starting June will probably be normal as the El Nino is seen returning to neutral conditions by the middle of the year, according to Skymet Weather ...

You have to give credit to China’s Anbang. Only days ago, the Chinese insurance group was shoved aside in its long quest to acquire U.S. hotel operator Starwood. A rival suitor, U.S. hotelier Marriott, had recaptured Starwood’s affections with a sweetened bid. Undeterred, Anbang roared back on Mar. 26 with an even juicier offer. Obviously, the company is not easily ...