August, 2016

• 6 August

  Mohammed hails RTA 2030 projects

  

    DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, commended the infrastructure projects being implemented by RTA Dubai as part of its 2030 strategy, in line with the Dubai Strategic Comprehensive Plan 2021, to achieve sustainable development. While visiting the RTA’s head-office in Umm Al Ramol …

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• 6 August

  Khalifa congratulates Bolivian President on Independence Day

    ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan sent a congratulatory cable to President of Bolivia Evo Morales on Independence Day. Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy …

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• 6 August

  Ops at DXB return to normal

    DUBAI / WAM Dubai Airports on Saturday confirmed that all operations and flights at Dubai International Airport have returned to normal after an incident involving Emirates Airline’s flight EK521, arriving from India, occurred at the airport on Wednesday, affecting the air traffic there. In a statement, the airport operator noted that the strategic plan of giving priority to wide-bodied …

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• 6 August

  India’s top utility seeks to end imported-gas supply deal

  

    Bloomberg State-run NTPC Ltd., India’s biggest power producer, is seeking to terminate a long-term supply contract for imported natural gas as it says the fuel is too expensive to be used in power generation, according to people with knowledge of the situation. The New Delhi-based electricity generator has written to state-run GAIL India Ltd., which supplies the fuel sourced …

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• 6 August

  Indian steelmakers advance after import curbs extension

    Bloomberg India extended its floor price regime on steel imports for a further two months, as the world’s third-biggest producer seeks to insulate domestic mills from a global glut. Steelmakers gained in Mumbai. The country extended minimum import prices, ranging from $341 to $752 a metric ton depending on the type of product, until Oct. 4, the commerce ministry …

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• 6 August

  Japan automakers urge Abe to act after yen deals $5 billion hit

  

    Bloomberg Japan’s auto industry is going back to tried-and-tested plays to ease the pain of yen strength as Toyota Motor Corp.’s prediction for a 37 percent plunge in earnings threatens to end the era of record profits. A resurgent yen wiped almost half a trillion yen ($5 billion) off the operating income of Japan’s seven automakers in the first …

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• 6 August

  Leading Russian mobile operator leaves troubled Uzbek market

    Almaty / AFP Major Russian mobile operator Mobile TeleSystems (MTS) has abandoned its stake in a lucrative joint venture in Uzbekistan, the Central Asian country’s communications ministry said late on Friday. The ministry’s announcement, which the company also confirmed later, said the state-owned Center of Radio Communication, Broadcasting and Television had become “sole owner” of the pair’s joint venture …

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• 6 August

  Indonesian growth beats forecasts as Widodo embarks on spending spree

  

    Bloomberg Indonesia’s second-quarter growth beat expectations as President Joko Widodo’s government embarked on a spending spree to boost an economy grappling with a slowdown in China and low commodity prices. Gross domestic product increased 5.18 percent from a year earlier, compared with a revised 4.91 percent in the first three months, the statistics bureau said in Jakarta on Friday. …

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• 6 August

  Japan’s top steelmaker cedes crown to Arcelor as yen soars

  

    Bloomberg Japan’s biggest steelmaker is top of the pile no more, as a resurgent yen hands a competitive advantage to overseas rivals amid an unprecedented global glut. Nippon Steel & Sumitomo Metal Corp. has been overtaken as the world’s most valuable producer by Europe’s ArcelorMittal and is neck and neck with a revitalized Posco in South Korea for second …

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• 6 August

  Duke to narrow bidders for $2 billion LatAm sale

  

    Bloomberg Duke Energy Corp. has invited Canada’s Brookfield Asset Management Inc. and French utility Engie SA to submit binding bids for its Latin American power assets, people with knowledge of the matter said. State-owned electricity generator China Three Gorges Corp. was also chosen to proceed to the next round, according to the people, who asked not to be identified …

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