July, 2017

• 12 July

  Air India’s ashtrays, debt cloud pose challenges to sale

  

  Bloomberg Prime Minister Narendra Modi’s cabinet has signed off on a plan to sell all or part of Air India Ltd, a debt-ridden, state-run carrier with the most unusual baggage. The airline’s balance sheet includes commercial space near London Heathrow, land in Tokyo, Hong Kong and Nairobi, all bought during the heydays when the airline commissioned paintings by Indian modern ...

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• 11 July

  VP unveils AED5.5bn Dubai Food Park

  

  DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, in the presence of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Chairman of the Dubai Creative Clusters Authority, launched Dubai Food Park, the latest addition to Dubai Wholesale City, which ...

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• 11 July

  ADNOC plans retail unit IPO at $14bn

  Bloomberg Abu Dhabi National Oil Co. (ADNOC) is planning an initial public offering of its service stations unit and may seek a value of as much as $14 billion, according to people familiar with the matter. The company, may appoint investment banks for the share sale, likely to be on the Abu Dhabi stock exchange, as early as this week, ...

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• 11 July

  Global energy investment reached $1.7trn in 2016

  

  Paris / WAM After two years of unprecedented decline, global upstream oil and gas investment is expected to stabilise in 2017, according to a report issued by the International Energy Agency, (IEA). However, an upswing in US shale spending contrasts with stagnation in the rest of the world, signalling a two-speed oil market. At the same time, the oil and ...

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• 11 July

  Stocks end on high note driven by Emaar

  Abu Dhabi / WAM The UAE equity markets booked decent gains at the close of Tuesday’s session driven by selective purchases targeting banking and property shares and low price stocks below one dirham. The Dubai Financial Market General Index grew 0.64 percent to reach 3439 points, with Abu Dhabi Securities Exchange General Index closing 0.24% higher than Monday, at 4,408 ...

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• 11 July

  Abu Dhabi’s UPC portal wins global award in GIS mapping technology

  

  SAN DIEGO / WAM The Abu Dhabi Urban Planning Council (UPC), won a prestigious international award for its innovative use of Geographic Information System (GIS), mapping technology. The award took place during the 2017 Esri User Conference, which will run until July 14, organised by the International Environmental Systems Research Institute in San Diego, California. The UPC’s award-winning internal web ...

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• 11 July

  India diplomat urges defusing China border spat

  

  Bloomberg India’s top diplomat called for a de-escalation of tensions with China, saying ties between the countries were too intertwined to let a renewed border spat cause lasting damage. “India and China must not allow differences to become disputes,” Foreign Secretary S. Jaishankar, who served as India’s Ambassador to China from 2009 to 2013, said in a speech on Tuesday ...

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• 11 July

  Abe seeks to avoid repeat of his swift demise a decade ago

  Bloomberg Unpopular policies and a slew of scandals triggered a slide in public support for Japanese Prime Minister Shinzo Abe that led to a heavy election defeat. That was in 2007, when he abruptly resigned after losing the upper house of parliament, citing health issues. Ten years on, his situation looks uncomfortably familiar. Abe returned to Tokyo on Tuesday from ...

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• 11 July

  Investigators recommend trial for embattled Pakistan premier ­

  

  Bloomberg Pakistani Prime Minister Nawaz Sharif may face trial after a high-level inquiry found he was unable to account for the disparity between his wealth and his known sources of income, plunging the country deeper into political crisis just months before elections. The Supreme Court is due to review the findings and will convene a hearing into the allegations on ...

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• 11 July

  South Korea doubts Pyongyang has ICBM re-entry technology

  Bloomberg South Korea has disputed North Korea’s claim to have an intercontinental ballistic missile that can strike the US mainland, saying Kim Jong Un’s regime may not yet have re-entry capability for such projectiles. The re-entry feature of North Korea’s missile program is not established, said Yi Wan-young, a South Korean lawmaker who was briefed by National Intelligence Service chief ...

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