February, 2017

• 25 February

  Sheraa helps launch startups in 54 hours

  

    Sharjah / Emirates Business Committed towards harnessing the entrepreneurial energy of youth to pioneer new businesses, Sheraa hosted 2017’s inaugural Startup Weekend at its state-of-the-art hub in American University of Sharjah. The Startup Weekend event is part of the global movement coordinated by TechStars and supported by ‘Google for Entrepreneurs’. In this edition, Sheraa provided a platform to over ...

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• 25 February

  Al Ansari Exchange, SriLankan Airlines to ease ticket payments

    Dubai / Emirates Business Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has recently signed an agreement with SriLankan Airlines, the national carrier of Sri Lanka. According to the terms of the agreement, SriLankan Airlines customers will now be able to make payments through more than 170 UAE-wide Al Ansari Exchange branches. The service will ...

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• 25 February

  SLC honours winners of Sharjah Ladies Run 2017

  

    Sharjah / Emirates Business Sharjah Ladies Club (SLC) honoured the winners of the Sharjah Ladies Run 2017, which took place at Sharjah University City. Characterised by fierce but friendly rivalry, the run saw the participation of about 1,500 female racers from 54 countries, with 66% Emiratis taking part. The competition was held in the presence of a large number ...

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• 25 February

  Wind power costs plummet in Asia’s first auction for contracts

  

    Bloomberg The cost of power generated from wind turbines plunged in Asia’s first auction for contracts to deploy the technology, a victory for India’s effort to reduce pollution and ensure supplies. Solar Energy Corp. of India Ltd., which conducted the auction for the government, said late on Friday that it received bids to supply wind power for 3.46 rupees ...

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• 25 February

  Oil slips from 19-month high as ample supply offsets cuts

  

    Bloomberg Oil retreated from the highest close since July 2015 in New York as record US crude inventories offset OPEC production curbs. Futures dropped 0.8 percent. US government data showed stockpiles rose 564,000 barrels to 518.7 million last week, the highest level in weekly data going back to 1982. Still, it was the smallest gain this year and coincided ...

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• 25 February

  ‘Bizarre’ trades pose menace for OPEC in its prized market

  

    Bloomberg OPEC pumped at will the past two years to defend its turf against rivals. Its recent volte-face has left it contending with additional threats in the world’s biggest oil market. Crude that’s rarely or never-before seen coming to Asia is now sailing from all over the globe to the region, with the door to the market seemingly held ...

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• 25 February

  Exxon’s new chief endorses carbon tax

  

    Bloomberg In his first blog post since succeeding Rex Tillerson, the new head of Exxon Mobil Corp. focused on climate change, calling for a carbon tax to discourage use of polluting fuels. Chairman and Chief Executive Officer Darren Woods said a revenue-neutral carbon tax “would promote greater energy efficiency and the use of today’s lower-carbon options, avoid further burdening ...

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• 25 February

  Pharma barons cite delay in digitizing labs in India

  

    Bloomberg Heads of two of India’s largest drug makers said integration of electronic systems to prevent quality lapses in factories is going slower than expected, as the industry looks to adapt to increased scrutiny from regulators in the developed world that have resulted in sanctions and slowed sales. “This is a much more digital world than where pharma companies ...

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• 25 February

  Hong Kong existing home prices rise to record, defying curbs

  

    Bloomberg Hong Kong’s existing home prices have climbed to a record, fueled by a surge in demand from local buyers and investors despite taxes and mortgage curbs designed to rein in prices. The Centaline Property Centa-City Leading Index, which tracks sales in the secondary market, rose to 147.74 for the week ended February 19, surpassing the previous high of ...

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• 25 February

  Tokyo’s housing boom may soon face an end

  

    Bloomberg Evidence is mounting that Tokyo’s housing boom is nearing an end. In the Kachidoki area facing Tokyo Bay, home to the city’s hottest market given its proximity to venues for the 2020 Olympic Games, real-estate broker Hayato Jo has a wall full of notices of apartments for sale, with a 20 percent increase in the number of people ...

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