June, 2019

• 1 June

  UAE confirms status as global tolerance centre, says report

  

  Abu Dhabi / WAM The UAE has continued to promote values of cross-cultural and religious interaction, tolerance, harmony and peaceful coexistence, during the month of May. The country launched various programmes and engaged in numerous activities and events to confirm its status as a global centre of tolerance. The Emirates News Agency (WAM), shed light on the major events during ...

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• 1 June

  UAE raises AED65m to help Rohingya refugees

  Abu Dhabi / WAM A nationwide campaign to support Rohingya refugees raised at total of AED65 million on the final day of its joint live stream, Friday, with residents across the country continuing to show full support via various social media platforms and other donation channels set by the participating charities, primarily the Emirates Red Crescent. Under the directives of ...

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• 1 June

  Abu Dhabi, Dubai among top ten cities for digital experts

  

  Dubai / Emirates Business The United Arab Emirates’ key business and innovation hubs have strong career appeal for the world’s digital talent pool, according to a new study by Boston Consulting Group (BCG) and The Network. In a report based on BCG’s 2019 study, titled Decoding Digital Talent, Dubai ranked as the sixth most appealing country to relocate to for ...

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• 1 June

  Trade war: China rallies energy giants

  

  Bloomberg China is mobilising its vast state-run energy industry to prepare for an economic tussle with the US that could escalate further and might last for years. Top oil executives were busy this week touting the need for energy security, and even discussing the previously far-fetched notion that the nation could be cut off from overseas supplies. The public comments ...

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• 1 June

  Wildfires hit Canadian Natural operations

  Bloomberg Canadian Natural Resources Ltd has evacuated its Pelican Lake and Woodenhouse operations in northern Alberta in the first major shut-in of oil production triggered by wildfires this year. The producer removed all 240 people working in the two sites, halting a combined 65,000 barrels a day of heavy crude, according to a statement. Three years ago, blazes razed entire ...

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• 1 June

  ReNew Power plans asset sale as IPO shelved

  

  Bloomberg India’s largest green energy company, ReNew Power Ltd, is considering raising funds through asset sales, after shelving plans for an initial public offering. Backed by Goldman Sachs Group Inc., the company has renewable assets of over 7 gigawatts, of which more than 4 gigawatts are operational. It makes sense to sell some assets when “the ability to execute and ...

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• 1 June

  Pentagon chief downplays US-China spat, hopes for deal

  

  Bloomberg Acting Defense Secretary Patrick Shanahan said the US and China would eventually resolve their differences, downplaying the significance of escalating trade tensions even as he ripped Beijing’s leaders for behavior that “sows distrust” in Asia. In a speech in Singapore that came hours after he met a top Chinese defense official, Shanahan indirectly blasted Beijing for employing a “toolkit ...

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• 1 June

  Indian PM hikes cash support program for farmers to $12.5b

  

  Bloomberg Prime Minister Narendra Modi began his second term by expanding an income support program for India’s small farmers, increasing the initiative’s annual cost to $12.5 billion for the new government that’s facing an economic slowdown. The newly-appointed cabinet approved extending the cash distribution plan to 20 million more farmers, taking the total beneficiaries to 145 million people who would ...

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• 1 June

  Reliance unit rushes asset sales ahead of repayments

  Bloomberg Beleaguered Indian businessman Anil Ambani is on an asset sale spree to raise funds to meet mounting debt obligations. New fundraising via such sales will help Reliance Capital Ltd, the last stronghold of the former billionaire’s wider conglomerate, to pay 11 billion rupees ($158 million) that comes due over the next month. The company is in talks to sell ...

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• 1 June

  Vedanta seeks arbitration in Zambia row

  

  Bloomberg Vedanta Resources Ltd, owned by Indian billionaire Anil Agarwal, said it’s seeking international arbitration to resolve a dispute with the Zambian government about its copper assets in the country. Zambia’s government this month began liquidation proceedings against Vedanta’s Konkola Copper Mines, after accusing Vedanta of lying about expansion plans and paying too little tax. The company says it is ...

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