May, 2019

• 29 May

  Emirates expects busy travel weekend on Eid

  

  Dubai / Emirates Business Emirates anticipates a busy weekend ahead of the Eid holiday with heavy traveller volumes to and from Dubai. The busiest time for departures in Terminal 3 will be on Friday May 31 with over 80,000 passengers travelling abroad. Customers are reminded to arrive at the airport at least three hours before their flight departure to avoid ...

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• 29 May

  UAE president confers Order of Independence on Swiss ambassador

  

  Abu Dhabi / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, has conferred the Order of Independence, First Class, on Maya Tissafi, Ambassador of Switzerland to the UAE, in recognition of her efforts during her tenure, which contributed to enhancing and boosting friendly ties between the two countries. HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign ...

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• 29 May

  3,000 year-old evidence of social life found in Al Ain

  

  Abu Dhabi / WAM Research conducted by the Department of Culture and Tourism – Abu Dhabi, at the Hili 2 archaeological site, part of the Unesco World Heritage Site of Al Ain, has revealed stunning new evidence on social life in the region 3,000 years ago. The results of the work have provided important insights into the daily lives of ...

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• 29 May

  WTO to probe charges against Qatar over UAE products’ ban

  

  GENEVA / WAM The World Trade Organisation (WTO), on Wednesday agreed to look into the complaint filed by the United Arab Emirates against the ban imposed by Qatar on Emirati products. The WTO has decided to constitute an arbitration committee to investigate the UAE’s complaint. The UAE has stressed that the Qatari ban on Emirati products is a flagrant violation ...

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• 29 May

  Malaysia in talks with China firms for compensation on $2.24b pipeline projects

  

  Bloomberg Malaysia is in discussions with China-based contractors for compensation relating to pipeline projects worth 9.4 billion ringgit ($2.24 billion). The government is negotiating with China Petroleum Pipeline Engineering Co. and Huanqiu Project Management Beijing Co. on the total compensation to be paid by Suria Strategic Energy Resources Sdn., which was overseeing the projects, for the termination of the work, ...

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• 29 May

  American refiners face summertime hurdles

  Bloomberg A global shortage of heavy crude will create hurdles for America’s key refining belts just as they ramp up gasoline production for summer driving season. In the Gulf Coast, dwindling heavy oil supplies have suppressed refining margins, while Midwest refiners may not reach the high run rates seen last summer. Gulf Coast profits from coking — a process where ...

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• 29 May

  SoftBank’s Son pays 6 senior execs $83m in push for talent

  

  Bloomberg Masayoshi Son is making top executives at SoftBank Group Corp some of the highest-paid in Japan as he recruits talent to his growing investment empire. While Son’s own salary remains modest by global standards, his company paid a total of 9.1 billion yen ($83 million) in compensation to six lieutenants, according documents released for a shareholder meeting on June ...

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• 29 May

  India’s Bharti Airtel plans London IPO for its Africa unit

  

  Bloomberg Bharti Airtel Ltd is planning a share sale for its Africa unit in London as part of a push by the Indian wireless operator to cut a debt load that’s ballooned to more than $16 billion. The initial public offering by Airtel Africa Ltd would comprise new shares and the sale would seek a free float of at least ...

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• 29 May

  CVC-backed Softex mulls $500m IPO

  Bloomberg PT Softex Indonesia, a sanitary product maker backed by PE firm CVC Capital Partners, is planning an initial public offering that could raise as much as $500 million, according to people with knowledge of the matter. The Tangerang-based company has met with potential advisers for a share sale in Indonesia that could happen as soon as this year, the ...

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• 29 May

  Sun Pharma profit halves, chief moved amid scandal

  

  Bloomberg Sun Pharmaceutical Industries Ltd’s fourth-quarter profit halved from a year ago as the fallout from a corporate governance scandal caused it to take a 10.85 billion-rupee charge ($155.7 million) and led to the brother-in-law of billionaire founder Dilip Shanghvi moving to a non-executive role. Shares rose by as much as 2 percent on Wednesday morning trading as investors cheered ...

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