The corruption probe that former Brazilian President Luiz Inacio Lula da Silva is facing, seems more politically-motivated. Though, he has to come clean. He was detained briefly for questioning over a massive embezzlement and bribery conspiracy revolving around state oil giant Petrobras. It is not yet clear whether reports that Lula has hinted the possibility of running for the presidency ...

The Andaman and Nicobar Islands, located in the Bay of Bengal, northwest of the pivotal maritime choke point at the Strait of Malacca, are an immensely valuable geopolitical asset for India, particularly as it looks to ‘Act East’ and play an increasingly more visible role in the eastern Indian Ocean and beyond. The islands host an Indian tri-service command, the ...

China has offered to expand its military aid to Afghanistan, the Wall Street Journal reports, following a visit to the country by a top Chinese general. Outlook Afghanistan put the total value of the proffered military aid at 480 renminibi ($73 million). The offer came during a visit to Afghanistan by General Fang Fenghui, chief of China’s joint staff department, ...

BLOOMBERG Dubai stocks advanced the most among Middle Eastern equities as the European Central Bank’s monetary stimulus boosted demand for emerging-market assets, adding fuel to bullish sentiment in the emirate. The DFM General Index climbed 1.4 percent to 3,401.03, extending four weeks of gains, the longest streak since April. Emirates NBD PJSC, the emirate’s biggest lender, added 4.6 percent to ...

ABU DHABI / EMIRATES BUSINESS The Emirates Securities Market Index has decreased by -0.42% to close at 4491.06 points. Accordingly the Market Capitalization has lost AED 3.04 billion attaining AED 728.51 billion. A total of 0.83 Billion Shares were traded with a total value of AED 1.13 billion during the trading session of 13-03-2016 through 9679 transactions. The number of companies which ...

ALKESH SHARMA / EMIRATES BUSINESS United Arab Emirates (UAE) is globally famous for its unbound luxury and inestimable hunger for excellence. Gauging the immense tourism potential in the Emirates’ market, many overseas companies have set up their base here in a bid to satiate the upscale demands of this region. One such leading name is ‘Magnificent’, a Greece-based ultra-luxury concierge ...

ALKESH SHARMA / EMIRATES BUSINESS Offering unmatched security solutions to UAE-based enterprises, dorma+kaba is aiming to capitalise upon immeasurable business opportunities that this region offer. This Switzerland-based company, which is riding high on its recent merger, is catering to its UAE clients from its Dubai corporate office. Dorma is the trusted global partner for premium access solutions and services, and ...

Emirates Business Saudi Aramco President and CEO Amin H. Nasser called for a new era of industrial diversification, anchored by specialty chemicals, and underpinned by a widespread and rapid in-Kingdom expansion of small to medium enterprises that produce high-value finished and semi-finished products in the petrochemicals conversion sector. This approach will unlock opportunities for the Kingdom’s economic diversification, job creation ...

Bloomberg Iran plans to boost crude output to 4 million barrels a day before it will consider joining other suppliers in seeking ways to rebalance the global oil market. “They should leave us alone” until then, Oil Minister Bijan Zanganeh said, according to the Iranian Students News Agency. “After that we will work with them.” Saudi Arabia, Russia, Venezuela and ...

Emirates Business Saudi Arabia’s ACWA Power International said that it has acquired 70 per cent of Sunrise Solar Energy Psc, which is developing a 50-megawatt solar power plant in Mafraq Governorate, a statement by the Saudi company said. The value of the deal was not revealed, but experts estimate that a plant of such capacity is worth more than $200 ...