March, 2017

• 23 March

  Abu Dhabi all set to launch Mother of the Nation Festival

  

    ABU DHABI / Emirates Business Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi) announced that preparations for Mother of the Nation Festival are in their final stages. The Festival will open its doors from 4pm until midnight on Sunday March 26 and run daily until April 4 on Abu Dhabi Corniche. The Festival will offer four diverse activity zones ...

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• 23 March

  MoE roadshow in China to promote UAE tourism

  

    Abu Dhabi / Emirates Business For the second year in a row, the Ministry of Economy (MoE) is organizing a promotional roadshow under the slogan ‘Visit UAE’ in the People’s Republic of China from March 27 to 28 in Shanghai and Beijing to showcase the UAE’s world-class tourism destinations. The delegation will be headed by Mohammed Khamis Al Mheiri, ...

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• 23 March

  Circular on safety of escalators issued

    Dubai / WAM Eng. Hussain Nasser Lootah, Director-General of the Dubai Municipality, issued a circular requiring all buildings and shopping centres to provide adequate safety requirements that would ensure public safety, especially for children. Khalid Mohammed Sharif, Assistant Director-General for Environment, Health and Safety Sector, explained that the municipality is keen on achieving strategic objectives of safety while ensuring ...

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• 23 March

  ADNOC opens service station in Al Rahba

    Abu Dhabi / Emirates Business ADNOC Distribution announced the opening of Gutouf service station in Al Rahba area of Abu Dhabi as part of the company’s strategic expansion plan to meet the growing demand for its high-quality products and services. Located near Golden Stars Stadium, the latest addition to ADNOC Distribution’s network takes the total number of stations in ...

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• 23 March

  Myanmar luxury property reels from foreign-buyer confusion

  

    Bloomberg Confusion over a law allowing foreigners to buy condominiums in Myanmar is prolonging a slowdown in its residential property sector, highlighting the challenges of regulatory flux in the frontier market. The legislation adopted in January 2016 leaves unanswered questions such as whether it applies to existing apartments, hurting efforts to woo investors. The outlook now depends partly on ...

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• 23 March

  Templeton to purchases $1.2bn of India Bonds

    Bloomberg Franklin Templeton Investments bought about 80 billion rupees ($1.2 billion) of Indian government bonds in two days this week, a person with knowledge of the matter said. The purchases, made on Tuesday and Wednesday, were largely for tenors maturing in 2021-2023, said traders who asked not to be identified because they aren’t authorized to speak publicly. JPMorgan Chase ...

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• 23 March

  Top India paper maker’s debt crisis deepens as imports rise

  

    Bloomberg Creditors of India’s largest paper maker Ballarpur Industries Ltd. may face costly unintended consequences from punitive US duties on some of the company’s Asian competitors. Ballarpur invested heavily in recent years to modernize its production facilities, and now may not be able to avoid defaulting on its debts, Fitch Ratings Ltd. said. The imposition by the US of ...

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• 23 March

  Westinghouse bankruptcy may limit Toshiba’s looming losses

    Bloomberg Toshiba Corp., reeling from an impending multibillion-dollar writedown in its Westinghouse Electric unit, has been battered to the point where a possible bankruptcy of the nuclear equipment business is being cheered by investors. Shares in the electronics conglomerate rose 6.9 percent in Tokyo, the most in a month, after Toshiba said Westinghouse’s board will decide whether to file ...

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• 23 March

  US probes banking of ex-Trump campaign chief

  

    WASHINGTON / AP US Treasury Department agents have recently obtained information about offshore financial transactions involving President Donald Trump’s former campaign chairman, Paul Manafort, as part of a federal anti-corruption probe into his work in Eastern Europe, The Associated Press has learned. Information about Manafort’s transactions was turned over earlier this year to US agents working in the Treasury ...

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• 23 March

  Former Russian lawmaker shot dead in Ukraine

    KIEV / AP A former Russian lawmaker Denis Voronenkov was shot and killed in Kiev on Thursday in what the Ukrainian president described as an “act of state terrorism” by Russia, an accusation that has been quickly rejected by the Kremlin. President Petro Poroshenko said Voronenkov’s killing “clearly shows the handwriting of Russian special services shown repeatedly in various ...

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