May, 2018

• 23 May

  Efforts to strengthen Dubai’s private sector competitiveness discussed

  

  Dubai / WAM The Dubai Chamber of Commerce and Industry’s Board of Directors on Wednesday discussed strategic decisions, initiatives and efforts aimed at attracting foreign investment to the UAE and enhancing the competitiveness of Dubai’s private sector. This came during board meeting, chaired by Majid Saif Al Ghurair, Dubai Chamber Chairman, focused on major initiatives which were recently announced by His ...

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• 23 May

  FCA, Ministry of Interior discuss cooperation in combatting drugs

  Abu Dhabi / WAM The Federal Customs Authority (FCA), the Anti-Narcotics Federal General Directorate of the Ministry of Interior and local customs departments from around the country have discussed, during a meeting that was held at the FCA’s headquarters in Dubai, the means of strengthening their cooperation in combatting drugs and protecting the community from its negative effects. The meeting ...

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• 23 May

  Dubai Customs participates in Shenzhen Security Summit

  Dubai / WAM Dubai Customs participated in Shenzhen Security Summit in China. Ahmed Mahboob Musabih, Director of Dubai Customs and Younis Othman, IT Director attended the event. The participation aimed at learning about the best practices in security that can help protect borders and entry points, control and monitor passenger traffic and implement latest techniques in risk management. Dubai Customs ...

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• 23 May

  RAK sees global interest in bidding for oil, gas exploration

  

  Ras Al Khaimah / Emirates Business With proven hydrocarbon reserves in place, diverse exploration plays, easily accessible existing infrastructure, attractive production sharing terms and commercialization plans, plus a team of international experts already working on the ground, the tendering process to explore for oil and gas resources in Ras Al Khaimah has received positive interest on a global scale. Launched ...

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• 23 May

  Top China wind power producer shines as fewer turbines idled

  

  Bloomberg The Chinese government’s moves to ramp up renewable energy consumption have sparked optimism over the future of China Longyuan Power Group Corp, the country’s biggest wind power producer. Around half of the 29 analysts covering Longyuan have raised their price targets for its Hong Kong-listed stock over the past month, according to data compiled by Bloomberg. Following a 29 ...

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• 23 May

  Australia’s Santos rejects $10.9bn takeover bid from Harbour Energy

  Bloomberg Santos Ltd. rejected Harbour Energy Ltd.’s $10.9 billion final offer and terminated talks. The Australian oil and gas producer said its independent directors, managing director and chief executive officer unanimously decided to reject the proposal because it didn’t represent the full value of the company. Oil prices and shares of its peers traded in Australia have rallied 14 percent ...

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• 23 May

  ZTE faces $3bn in losses from US technology ban

  

  Bloomberg ZTE Corp. is estimating losses of at least $3.1 billion from a US technology ban that’s halted major operations as clients pull out of deals and expenses mount, people familiar with the matter said. The telecoms gear and smartphone maker however is hopeful of striking a deal soon and already has a plan in place — dubbed “T0” — ...

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• 23 May

  Jaguar to spend $5.3bn on new models, tech

  

  Bloomberg Jaguar Land Rover will spend about 4.5 billion pounds ($5.3 billion) in the current financial year on new models and technologies as the luxury carmaker looks to spur sales that grew at a slower pace. “We will continue with over-proportional investment in new vehicles, manufacturing facilities and next generation automotive technologies in line with our autonomous, connected, electric and ...

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• 23 May

  Now, Tesla’s Model X 6% cheaper in China

  

  Bloomberg A day after China delivered on its promise to cut auto import tariffs, Tesla Inc. lowered prices in the country by about 6 percent, passing on some of the savings to consumers as competition heats up in the world’s largest electric-car market. The price of a Model S has been reduced to as low as $111,000 and the Model ...

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• 23 May

  Hon Hai’s FII to raise $4.3bn in Chinese IPO

  

  Bloomberg Foxconn Industrial Internet Co. plans to raise $4.3 billion selling stock in an initial public offering, kicking off the largest mainland Chinese debut since the 2015 stock market crash. Shares will be offered at 13.77 yuan apiece, valuing the company at about $43 billion — larger than eBay Inc. The smart factory unit of Hon Hai Precision Industry Co., ...

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