October, 2016

• 4 October

  Dubai Chamber opens Nairobi office

    Dubai / WAM The Dubai Chamber of Commerce and Industry (DCCI), today opened an office in Nairobi, Kenya, looking to strengthen economic ties with the continent and to promote Dubai and its business competitiveness in the African market. The new office, being the fourth in Africa after Ethiopia, Ghana, and Mozambique, is the sixth Dubai Chamber international office after Azerbaijan ...

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• 4 October

  DFM to hold Int’l Investor Roadshow in New York

    Dubai / WAM Dubai Financial Market’s (DFM) International Investor Roadshow will be held from October, 17-18 in New York City, with co-sponsorship from Bank of America Merrill Lynch (BofAML) to enable 13 companies listed on DFM and Nasdaq Dubai to update international fund managers about growth strategies and recent developments through one-on-one meetings, the DFM announced on Tuesday. “The DFM represents ...

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• 4 October

  Dubai’s RTA offers taxis via e-hail service Careem

    Dubai / WAM All taxis in Dubai will soon be available through the Careem app under a new agreement between the e-hail taxi company and the Roads and Transport Authority (RTA). RTA signed the agreement with Careem Networks Company on Tuesday making all its 9,841 taxis and 4,700 limousines available on Careem app. According to Mattar Al Tayer, Director General ...

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• 4 October

  World Green Economy summit to commence in Dubai today

  

    Dubai / Emirates Business The World Green Economy Summit (WGES) 2016, held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, is set to open tomday at Dubai International Convention and Exhibitions Centre in New Za’abeel Hall 6. The 2016 Summit marks the third ...

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• 4 October

  Jack Ma in Indonesia shows ‘explosive’ online sales growth

  

    Bloomberg In a testament to the rising consumer potential of the world’s No. 6 emerging market, Indonesia’s President Joko Widodo has tapped for guidance the king of Chinese e-commerce: Jack Ma. Jokowi, as Indonesia’s leader is known, further intensified the buzz surrounding his country’s $2 billion e-commerce market with a stop at Jakarta’s sprawling Mangga Dua bazaar last month, ...

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• 4 October

  India’s biggest oil processor to boost refinery expansion plan

  

    Bloomberg Indian Oil Corp. is scaling up an expansion plan for its biggest refinery in northern India at a cost of 150 billion rupees ($2.3 billion), as it races to meet demand in one of the world’s fastest-growing crude consumers. India’s top refiner will expand its Panipat refinery to 25 million metric tons a year (500,000 barrels a day) ...

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• 4 October

  IMF issues warning over China debt load

  

    Beijing / AFP China’s dependence on debt is growing at a “dangerous pace” and it must act to head off a brewing crisis, the IMF warned on Tuesday. The International Monetary Fund also said the country’s leaders should kick on with vital reforms or risk a painful correction in the world’s number two economy, adding that Beijing’s “unsustainably high” ...

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• 4 October

  Hanjin Group CEO apologises for shipping chaos

  

    Seoul / AFP The chairman of South Korea’s Hanjin Group on Tuesday apologised for the “cargo chaos” caused by the collapse of its shipping unit, but insisted the company could, and should, be salvaged. Hanjin Shipping, the world’s seventh largest shipping company, is seeking bankruptcy protection at home and in the US after creditors rejected its latest plan to ...

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• 4 October

  Japan’s business confidence at multi-year low

  

    Tokyo/ AFP Business confidence among Japan’s largest manufacturers is at its lowest since Tokyo introduced measures to kick-start the struggling economy more than three years ago, a central bank survey showed in a report. The Bank of Japan’s closely watched Tankan report comes after data showing weak growth in the second quarter and as soft inflation and spending figures ...

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• 4 October

  UK sees ‘Global Britain’ as tactic, not slogan

  

    The key difficulty facing the U.K. as it leaves the European Union is easy to articulate: how to curb the free movement of people while maintaining vital trading relationships with its peers. It’s increasingly clear that two premises underpin the government’s position on the trade issue: first, that the other EU 27 members will realize there’s no economic benefit ...

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