April, 2016

• 2 April

  ‘Yemeni refugees are trapped between a rock and a hard place’

  

  Obock / AFP Under a scorching sun, refugees who fled Yemen’s war struggle on in a camp on Djibouti’s rocky shores, a year after Saudi-backed air strikes began devastating their homeland. Over 2,000 Yemenis have made the Markazi camp their home, fleeing the Arabian Peninsula to Djibouti across the narrow Bab Al Mandeb straits—the “Gate of Tears” in Arabic—the key ...

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• 2 April

  Debtors among UAE family heads in Abu Dhabi decline

  

  ABU DHABI / WAM The percentage of debtors among UAE family heads in the Emirate of Abu Dhabi has declined during 2015 for the second consecutive year to reach about 19.9 per cent on average from its previous rate of 24 per cent in 2014, according to the National Family Status Observatory’s 2015 report. Issued by the Department of Economic ...

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• 2 April

  Dubai gets one of largest roof-top arrays in Mena

  

  DUBAI / WAM Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA) has inaugurated one of the largest single-rooftop arrays in the Middle East and North Africa, a 1.5 megawatt direct current (MWdc) photovoltaic generation project at Jebel Ali Power Station (JAPS), and successfully connected it to DEWA’s grid. This supports the Shams Dubai initiative, ...

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• 2 April

  Senaat’s revenues exceed AED14bn

  

  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 ...

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• 2 April

  ADM to build playgrounds for children’s worth AED30mn

  

  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 ...

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• 2 April

  Al Zeyoudi meets quarry operators

  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 ...

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• 2 April

  Foxconn buys Sharp for $3.5bn

  

  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 ...

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• 2 April

  Indonesian group prepares for $2bn Newmont mine bid

  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 ...

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• 2 April

  HCL Tech to buy Geometric Ltd for US$186 million

  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, ...

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• 2 April

  Malaysia’s 1MDB subsidiary settles US$769mn loan

  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 ...

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