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 ...

The Nuclear Security Summit, which concluded on Friday in Washington, did not rule out catastrophic nuclear attacks. It was a global forum that gathered the world leaders to find ways to avert such apocalyptic scenarios. The timing of the summit was important as it came in the wake of attacks in Paris and Brussels that have killed dozens and exposed ...

Vishal Arora SPECIAL TO EMIRATES BUSINESS U Htin Kyaw is the president of Myanmar’s first civilian government following 56 years of military junta rule, but all eyes remain on Nobel laureate Aung San Suu Kyi to lead the country. While she is likely to accept and play that role, as per the wishes of her people, the hope for a ...

Seen from a distance, Peru is a Latin American dynamo. Its economy has been surging since the early 2000s and investment has been rebounding. Its universal health- care program has won accolades, and the number of those living in poverty fell 32 percent between 2001 and 2014. So why is the April 10 presidential election turning into such a fiasco? ...

Sharjah / WAM The most effective ways of enhancing business between Sharjah and Portugal were high on the agenda at a key meeting organised by Sharjah Investment and Development Authority (Shurooq) in collaboration with AICEP Portugal Global Trade and Investment Agency. More than 50 business stakeholders attended the premium roundtable event, which was held at Sharjah Chamber of Commerce and ...

Sharjah / Emirates Business Thousands of children and families flocked to Al Qasba, Al Majaz Waterfront, Al Montazah and Heart of Sharjah, during the weekend, to enjoy a plenty of exciting activities and entertainment shows held as part of the 10th edition of the Sharjah Food Festival at the emirate’s four premier tourist destinations. Organised by the Sharjah Investment and ...