August, 2017

• 14 August

  Gulf Navigation profit hits AED19mn

  Dubai / Emirates Business The Dubai based “Gulf Navigation Holding PJSC”, listed in Dubai Financial Market (DFM) under “GULFNAV”, has announced 33% growth in net profits by the end of the first half of 2017, compared with the same period of 2016. This announcement comes concurrently with the new phase the company is launching to strengthen its position and competitiveness ...

  Read More »
• 14 August

  CDA conducts sessions on social services

  Dubai / WAM The 10X initiative team at the Dubai Community Development Authority (CDA) concluded a series of interactive brainstorming sessions aimed at accelerating social initiatives in the emirate and transforming them into tangible courses of action to be tested and implemented on the ground. The sessions saw the participation of an integrated team of 45 members of human resources ...

  Read More »
• 14 August

  Troubled Georgia nuclear project seeks Trump’s aid

  

  Bloomberg President Donald Trump has vowed to revive America’s dying nuclear industry. Backers of a troubled Georgia nuclear project want him to prove it. They have asked the administration to come to the aid of a project to build two reactors to the Southern Co.’s Vogtle power plant, according to people familiar with the talks. That could include increasing or ...

  Read More »
• 14 August

  India’s ONGC plans first ever borrowing

  

  Bloomberg Oil and Natural Gas Corp. plans to tap the debt market for the first time, an opportunity that may be hard to pass up for bond bulls. India’s largest state-run energy producer may sell bonds and take out loans of as much as $4 billion to pay for the purchase of the government’s $5.2 billion stake in Hindustan Petroleum ...

  Read More »
• 14 August

  Egypt aims to reverse ‘agri-bans’

  

  CAIRO / Reuters Egypt is looking to reverse a series of bans on its agricultural products that has hit one of its most promising export sectors, Abdel Hamid al-Demerdash, the head of Egypt’s Agriculture Export Council told Reuters. Egyptian crops from strawberries to peppers have been hit by temporary bans on concerns over pesticides residues. Sudan introduced a blanket ban ...

  Read More »
• 14 August

  In a rare eclipse, gas will see its future as solar’s backup

  

  Bloomberg Natural gas is about to get a glimpse of its future role in the US power mix as solar energy’s backup. During the upcoming August 21 eclipse, operators of giant solar fields from California to the Carolinas will cede market share to fast-start natural gas generators as well as hydroelectric plants and other sources to fill the gaps as ...

  Read More »
• 13 August

  Equis Energy seeks binding bids for $4 billion power assets

  

  Bloomberg Equis Energy, the Singapore-based developer of power projects, has asked for binding bids for its $4 billion renewable energy business by late September, people with knowledge of the matter said. A consortium led by I Squared Capital is among suitors chosen to proceed in the bidding for the portfolio of Asia Pacific assets, according to the people. The infrastructure ...

  Read More »
• 13 August

  Indian billionaire Shanghvi offers ‘mea culpa’ post Sun’s loss

  

  Bloomberg The billionaire founder of Sun Pharmaceutical Industries Ltd. pledged that the drugmaker would do better after reporting its first loss in at least 12 years amid regulatory headaches and a weakening market for generic drugs. “The reason why we are suffering is our inability to execute,” Dilip Shanghvi said on a conference call with analysts after the results were ...

  Read More »
• 13 August

  Tencent, Weibo, Baidu probed over ‘law breach’

  

  Bloomberg China’s online watchdog has launched an investigation into reports of multiple violations at news services run by Tencent Holdings Ltd., Baidu Inc. and Weibo Corp., as the government continues to tighten scrutiny over internet content. The Cyberspace Administration of China said it’s instructed its Beijing and Guangdong branches to look into reports that some of the country’s largest online ...

  Read More »
• 13 August

  Suzlon profit hit by shift in India’s wind system

  

  Bloomberg Suzlon Energy Ltd. reported its lowest quarterly profit in a year as India’s support for auction mechanism to build wind energy projects slowed orders. The profit of $7.65 million during the usually quiet fiscal first quarter compared with a loss of 2.6 billion rupees in the year-ago period, according to a filing to the Indian stock exchange. The previous ...

  Read More »